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Cameron's trade balance improved in 2022 despite a deficit

Cameron's trade balance improved in 2022 despite a deficit
  • Comments   -   Tuesday, 06 June 2023 13:17

(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.

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