(Business in Cameroon) - A report issued this month by the National Statistics Institute (INS) showed that during the second quarter this year, Cameroon recorded an increase by 8.3% in imports, compared to the same period last year.

This growth, INS said, is the result of combined increase in the import of goods (8.2%) and services (8.8%) over the period, translating into a negative contribution to GDP growth by 2.1 pts.

“The increase in import of goods stemmed from higher import of crude oil, electric devices, machines and equipment, grain mill products, chemicals, and refined oil products,” the document indicated.

However, the country less imported certain goods during the period under review. These include paper and paper products, agricultural processing products as well as refined and crude oil. Excluding oil, overall import grew by 2.7%.

With regard to exports, they fell by 10.8% compared to Q2 2017. This followed a shrink in export of goods (10.4%) and services (11.7%). Exports thus contributed -2.1% to GDP growth. The continued downward trend in goods exports is subsequent to lower exports of crude oil, and industrial and export agricultural products.

“The down turn in exports of goods in terms of volume is offset by higher exports of logged and processed wood (sawn, veneer and plywood), agricultural processing products, in particular cocoa paste and butter. Excluding oil, exports of goods in volume terms declined by 3.3%,” INS said.

S.A