Yaoundé - 09 June 2023 -

Electricity, oil, and gas dragged secondary sector growth down in Q3 2022

Electricity, oil, and gas dragged secondary sector growth down in Q3 2022
  • Comments   -   Wednesday, 22 March 2023 14:01

(Business in Cameroon) - The secondary sector in Cameroon ended the third quarter of 2022 with weak growth of 0.8%, contributing only 0.2 basis points to GDP. According to data published by the National Institute of Statistics (INS), the poor result was caused by the underperformance of electricity and hydrocarbon production activities.

"The dynamics of the secondary sector have been slowed down once again by the activities of production and distribution of electricity, which dropped by -0.1%, but especially by the continued recession in the extraction of hydrocarbons," INS explained. During the period under review, the production of hydrocarbons in Cameroon dropped by 5.7% QoQ due to the "1.7% decline in crude oil production and a 24.6% drop in natural gas production,” the stats institute reported.


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