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Yaoundé - 26 June 2022 -
Economy

Extractive Industries: Production costs rose 57.6% YoY in Q4 2021 in Cameroon

Extractive Industries: Production costs rose 57.6% YoY in Q4 2021 in Cameroon
  • Comments   -   Monday, 23 May 2022 15:29

(Business in Cameroon) - The ex-factory prices in the industrial sector in Cameroon rose sharply in Q4 2022, following the same trend as in the previous quarter. In a recent note, the national stats agency reported that producer prices in the industrial activity as a whole rose by 14.8% YoY in the fourth quarter.

By segment, the INS revealed that the overall trend is driven by the extractive sector, where production costs have exploded, rising by 57.6% YoY in Q4 2021. "This increase is attributable to the rising costs of hydrocarbons, especially oil and gas, which are experiencing strong demand following the post-Covid-19 economic recovery," INS explained in the note on Industrial Producer Price Index (IPPI).

The upward trend was also reported in the paper, cardboard, and printing industries (+24.4%) and the metallurgy and metalworking industries (27.8%), etc. As a reminder, according to the INS, "the IPPI measures the evolution of transaction prices of industrial goods produced within the economic territory of Cameroon. These are ex-factory prices paid to producers, excluding taxes and subsidies, and excluding transport margins. The IPPI sample consists of 103 companies covering 328 company products, 177 lines, 48 business classes, 38 groups, and 24 divisions. The sample of companies surveyed covers the entire industrial sector and was selected using the cut-off method, to cover around 80% of the turnover of each segment.”

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