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Yaoundé - 08 July 2020 -
Economy

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

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