(Business in Cameroon) - The goods trade deficit in Cameroon dropped significantly in H1 2022, according to data from the National Institute of Statistics (INS).

The agency reported that strong exports coupled with a decline in imports have helped the country achieve this performance. During the period, "the exports of goods increased by 2.8% while the reverse movement decreased by 11.3%," INS said without providing the reasons behind this trend. Yet, the explosion of freight and raw material costs on the international market due to the Russian-Ukrainian crisis can be an explanation.

This gloomy global environment has led to higher production costs for local firms, dampening the enthusiasm of importers and other processors of raw materials. Final consumer prices have also risen, slowing demand for some imported products or products made from imported raw materials.

Written by BRM  

Translated from french by Firmine AIZAN