(Business in Cameroon) - Cameroon’s trade balance has improved considerably in 2022, reaching 2.3% of GDP, the national stats agency INS found. And although it remained in deficit, the balance in 2022 was better than the 3.7% of GDP recorded in 2021.

This improvement was the result of a more significant increase in exports compared to imports. The overall volume of exports over the period grew by 3.5% compared to the previous year, while imports only increased by 0.5%. INS attributes this sluggish import trend to the drastic drop in demand for crude oil, as the country's only refinery suffered a fire in 2019 that halted operations.