Yaoundé - 08 July 2020 -

Covid-19: Cameroon’s international trade exchanges fell by 16% in H1-2020

Covid-19: Cameroon’s international trade exchanges fell by 16% in H1-2020
  • Comments   -   Tuesday, 30 June 2020 12:03

(Business in Cameroon) - Between January and June 2020, Cameroon's trade with the rest of the world fell by 16%. The information was revealed by the Minister of Trade, Luc Magloire Mbarga Atangana during a cabinet meeting chaired on June 25, 2020, in Yaoundé, by Prime Minister Joseph Dion Ngute.

This drop that saw imports fall by 16% and exports by 15%, is the result of the Covid-19 pandemic, which is currently raging around the world. Indeed, to curb the spread of this disease in Cameroon, the government closed the country's borders since March 17, 2020.

Despite the possibility for cargo planes and other ships carrying goods to continue serving Cameroon, the border closure has had a significant impact on international trade. This is because most of Cameroon's trading partners were also in total containment, thus making it impossible to trade with the outside world.

This led to a drastic drop in demand on the international market, forcing both exporters and importers to reduce their activities. The prices of raw materials such as banana, wood, oil, natural gas and cotton (which fell by 42% between January and April 2020, according to Minister Mbarga Atangana) did not encourage trade between international trading partners during this period either.

Brice R. Mbodiam

The financial statements of Cameroon’s Telecommunications Regulatory Board (ART) reveal a deficit of CFAF 2.2 billion at the end of the financial year...
On July 1, 2020, Afriland First Bank Democratic Congo (CD), one of the eleven subsidiaries of the banking group founded by Cameroonian billionaire Paul K....
To combat unemployment, the Cameroonian government intends to create 100,000 jobs over the 2020-2025 period. To achieve this, the government plans to...
In Cameroon, transit time was reduced from 40 to 5 days by the end of Q1-2020 thanks to digitalization and telecommuting, according to the single window...

Mags frontpage

Business in Cameroon n88: June 2020

Covid 19 Its impacts so far

Emmanuel de Tailly (SABC) : «Preserving jobs at all costs»

Investir au Cameroun n98 Juin 2020

Covid 19 Et maintenant, l’étendue des dégâts

Emmanuel de Tailly (SABC) : «Maintenir l’emploi coûte que coûte »