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Cameroon Cameroon

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Cameroon – Quick View
ECR score30.18 (Mar 2011)
ECR rank135 (Mar 2011)
Economic
GDP at current prices 2010 eUSD 22.05 billion
GNI 2010USD 2,197
Inflation 2009 e3.1%
FDI inflow 2009USD 340.12 million
Central Bank Assets 2010 (Sept)USD 11,965.80 million
Unemployment rate 201130%
Government deficit 2010 pUSD 0.19 billion
Tax RevenueNA
Political
Government typeUnitary Republic
Recent political crisisNA
Economic freedom score136th
Freedom of information score129th
Corruption perception index 2010146th
Structural
Crude Birth rate 200936%
Population BalanceWomen over 60 – 5.8%
Population BalanceMen over 60 - 5.0%
Population BalanceUnder 14 - 40.9%
Life expectancy years 201051.7 years
Under-5 Mortality rate 2008131 (per ‘000)
Literacy rate 201067.9%
Internet access 20103.9%

[Top] Economic Overview

Cameroon’s economy is substantially supported by the service sector, which contributes 40% of GDP. Economic growth is hampered by weak infrastructure, business restrictions and incompetent bureaucracy.     

(Source: Heritage.org)

Gross domestic product (GDP)

Cameroon GDP (current prices)

(Sources: Central Bank(2005-09), imf.org(2010)) e = estimated

Cameroon’s GDP experienced steady increase from 2005 to 2008. In 2010, GDP is estimated to reach XAF 11,111.03 billion.

GDP Growth Rate

Cameroon Real GDP Growth Rate

(Source: Central Bank) e = estimated

In 2005, real GDP growth rate of the country was registered at 2.3%. The rate increased till 2007 reaching 4%. In 2009, it was estimated to fall to 2%.

Gross National Income (GNI) at Purchasing Power Parity (PPP)

Cameroon GNI at PPP

(Source: undp.org, page: 4)

Cameroon’s GNI at PPP shows consistent growth from 1995 to 2010. In 2010, GNI is recorded at USD 2,197. 

Inflation

Cameroon Inflation (average)

(Sources: Central Bank) e = estimate

Cameroon’s inflation rate recorded fluctuating movement 2005 to 2008. In 2009, inflation was estimated to reach 3.1%.

Tax Rate

Cameroon has a progressive income tax system. Individual income tax rate is 38.5% and corporate income tax is also 38.5%. VAT rate in the country is 19.25%.

(Source: Tax Rates)

Personal Income Tax

Income Range (XAF)

Tax Rate (%)

0 - 2,000,000

10

2,000,001 to 3,000,000 

15

3,000,001 to 5,000,000

25

Above 5,000,000

35

(Source: Tax Rates)

Foreign Direct Investment (FDI)

Cameroon FDI

(Source: Worldbank.org)

In 2009, FDI inflow in Cameroon amounted to XAF 340.12 million. 

Central Bank Assets

Cameroon Central Bank Gross Foreign Assets

(Source: Central Bank, Sheet 1)                                 

The ‘Banque des Etats de lAfrique Central (BEAC)’ is the regulatory authority of the country’s banking sector. From 2005 to 2008, the bank’s gross foreign assets show steady rise. As of 2010 (September), gross foreign assets are recorded at XAF 6,145,658 million.

[Top] Financial Indicators & Government Financial

Consumer Price Index (CPI)

Cameroon CPI

(Source: imf.org)                  

CPI in Cameroon registered a year-on-year increase from 190.1 in 2005 to 214.1 in 2009. In 2010, CPI is estimated to reach 219.93.

Deposit Interest Rate

Cameroon Deposit Interest Rate

(Source: Worldbank.org)

Cameroon’s deposit Interest rate experienced decline from 4.9% in 2005 to 3.8% in 2008.

Money Supply

Cameroon Money Supply

(Source: Worldbank.org)

From 2005 to 2009, Cameroon’s money supply consistent year-on-year increase. In 2009, Money and Quasi Money (M2) was XAF 2,323.8 billion.

Official Exchange Rate

Cameroon Official Exchange Rate

(Source: Central Bank)

Cameroon’s exchange rate experienced a fall against USD from 526.5 in 2004 to 445.7 in 2008. In 2009, the exchange value of XAF/USD was 470.3.

As of 2011 (Mar), the rate is registered at 463.94.

(Source: XE)

Government finances

Fiscal Balance

Cameroon Fiscal Balance

(Source: Central Bank) p = projected, e = estimated

Cameroon’s fiscal balance witnessed continual surplus from 2005 to 2007. For the year 2010, fiscal surplus was projected to be XAF 98.5 billion.

Total Revenue
Cameroon Total Revenue

(Source: Central Bank)

Cameroon’s government’s total revenue increased steadily from 2005 to 2007. As of 2010, revenue was projected to amount to XAF 2,415.30 billion.  

Total Grants

Cameroon Total Grants

(Source: Central Bank)

In 2005, total grants received amounted to XAF 10.9 billion. Grants showed minor fluctuations in the period 2005-2009, with 2006 registering the highest grants amounting to XAF 2,225.90 billion. In 2009, the amount was recorded at XAF 111.0 billion.

Current Account Balance

Cameroon Current Account Balance

 

(Sources: Central Bank)

Cameroon’s current account balance remained negative from 2005 to 2008. In 2009, current account deficit was estimated to reach XAF 830.80 billion.

Balance of Payments

Cameroon Balance of Payments

(Source: Central Bank)

Cameroon’s balance of payments registered surplus from 2006 to 2008. In 2009, balance amounted to XAF 149 billion.

[Top] Labour Force and Employment Overview

‘Ministry of Labour and Social Security’ governs Cameroon’s social development and labour welfare. It promotes safe work labour welfare and social prosperity.

(Source: ilo.org) 

Minimum Wage

In 2011, Cameroon’s minimum wage is recorded at XAF 28,246 per month.

(Sources: All Africa)

Unemployment Rate

As of 2011, Cameroon’s unemployment rate is registered at 30%.

(Source: Cameroon Centre for Democracy & Human Rights)

Level of Unionisation

Federation of Trade Unions of Cameroon is the national representative of all Cameroon workers. National Union of Cameroon Workers (UNTC) and Union of Free Trade Unions function under the national federation.    

Strikes are permitted following mandatory arbitration under the Constitution and Labour Code.

(Source: Commonwealth of Nations) 

[Top] Political Stability

Cameroon’s government is a unitary republic following a multi-party system.

President exerts executive powers such as dismissal of judges, cabinet ministers and provincial governors. He is also authorized to repress opposition parties. 

Major political parties include:

  •         Rassemblement Démocratique du Peuple Camerounais (RDPC)
  •         Social Democratic Front (SDF),
  •          Union Démocratique du Cameroun (UDC)
  •         Union Nationale pour la Démocratie et le Progrès (UNDP)
  •          Mouvement Progressiste (MP)

As of 2011, Mr. Paul Biya is the President of and Mr. Ephraim Inoni is the Prime Minister of the country.

(Source: Edc.ca)

Regulatory Environment

Cameroon Economic Freedom Indices

(Source: Heritage.org)

Cameroon stands 136th on the 2011 Index of Economic Freedom with a score of 51.8. The country is ranked 27th amongst 46 countries of the Sub-Saharan Africa region.

(Source: Heritage.org)

Freedom of Information

In 2010, Cameroon is ranked 129th on the Press Freedom Index. The index contains countries with scores ranging from zero, implying most freedom, to about 105. Cameroon scores 44.30 points on this index indicating high regulations on the media.

(Source: rsf.org)

Corruption

The Corruption Perceptions Index (CPI) is a survey that measures the perceived level of corruption across countries worldwide. Cameroon is ranked 146th out of 178 countries in the 2010 index, indicating that it is perceived as highly corrupt.

(Sources: Transparency.org)

Judicial System

Cameroon’s judicial system is based on the English common law. The highest authority of the legal system’s hierarchy is the Supreme Court. It is distinguished into 3 levels: House Judiciary, Administrative Chamber and Chamber of Accounts.

Supreme Court comprises of Chief Justice, Presidents of Chamber, Advisors, Registrars, Attorney Generals and Lawyers. High Courts and judicial committees handle civil and criminal cases at regional levels.

(Source: Supreme Court of Cameroon)

[Top] Demographic Overview

Population

Cameroon Population

(Source: Central Bank(2005 to 2009), undp(2010), page: 182) e = estimate

Cameroon’s population shows a year-on-year rise from 2005 to 2010. Population increased from 17.2 million in 2005 to 20 million in 2010.

In 2009, population below 14 years of age constituted 40.9%. Men above 60 years of age made up 5.0% of total population and women constituted 5.8%.

(Source: un.org)

In 2010, the population of the nation is 20 million. 58.4% of Cameroon’s population is classified as urban.

(Source: undp, page: 182) 

The country’s gender ratio was recorded at 101.6 (men per 100 women) in 2010.

(Source: undp, page: 182) 

In 2010, average life expectancy in Cameroon is 51.7 years and median age is about 19.2 years.

(Source: undp, undp, page: 182) 

In 2008, under-5 mortality (per 1000 live births) was registered at 131.

(Source: undp)

In 2009, crude birth rate was registered at 36%.   

(Source: unicef.org)

Human Development Index

The country is ranked 131st on United Nation’s Human Development Index. It falls in the category of ‘Low Human Development.’ HDI integrates a country’s life expectancy, schooling and income. This signifies the overall social and economic development of a nation. A rank between 128 and 162 indicates ‘low human development’ on UNDP’s Index.

(Source: undp, page: 146) 

[Top] Soft Infrastructure

Education

The state’s duty is to provide education to every child. Basic education is compulsory in Cameroon. Education Law of 1998 determines the general educational framework. The framework covers formal and non-formal education.

Higher education policies are drafted by Council of Higher Education and Scientific and Technical Research. Teachers and district inspectors are responsible for application of school syllabus and administrative functions at school level. Provincial inspectors are in charge of performance evaluation at all school levels.

Main stages of school education include: Pre-primary, Primary and Secondary levels. Major portion of funding is derived from state budget.

Languages of instructions include French and other regional languages.

In 2010, Cameroon’s literacy rate is registered at 67.9%.

 (Source: ibe.unesco, undp) 

 Health

‘Ministry of Health’ is the governing body of Cameroon’s health sector. It promotes health sector research and ensures the availability of adequate healthcare services to people. It is responsible for provision of provision of health and health related services supported by Surgery units, Medicines and Specialities units, Home Resuscitation and Emergency centres, Obstetrics services and Technical units.            

The sector has also set up specialized centres for Oncology, Radiation, Hemodialysis and Neonatology.

Ministry of Health and Ministry of Finance allocate national health sector budget.

(Sources: Ministry of Health)

[Top] Hard Infrastructure

Public Transport

Means of public transport include taxis, motorcycle taxis, buses, taxi-buses and mini buses.

Roads

In 2010, Cameroon’s total road network is measured at 54,000 km.

(Source: All Africa)

Railways

Cameroon’s total railway network covers approximately 1,104 km.

(Source: Somali Press)

Major railway lines in the country are: Camrail (Central Line), Yaoundé-Ngaoundéré (Northern Line), Otélé-Mbalmayo, Douala-Mbanga-Nkongsamba and Mbanga-Kumba.

(Source: Train Web.org)

Sea Ports

The single sea port in Cameroon is the port of Douala.

(Sources: World Port Source)

Airways

Paved Airports

Airport

Runway Length (Ft.)

Bamenda

8,200

Douala

9,300

Foumban

6,800

Garoua

11,100

Maroua

6,800

N'gaoundere

8,800

Tiko

4,400

Yaounde

11,100

Yaounde/Ville

6,500

(Sources: Aircraft World Charter)

Cameroon has 38 airports, with the major ones being, Bamenda, Douala, Foumban, Garoua, Maroua, N'gaoundere, Tiko, Yaounde and Yaounde/Ville.

(Sources: Aircraft World Charter)

Telecommunication

Telephone Lines

Cameroon Fixed Telephone Lines

(Source: itu.int)

In 2009, the number of fixed telephone line users in Cameroon was recorded at 435,413.

Mobile cellular subscriptions

Cameroon Mobile cellular subscriptions

(Source: itu.int)

Cameroon’s Mobile subscriptions witnessed steady rise from 2005 to 2009. In 2009, the number of mobile cellular subscription users was recorded at 8,004,120.

‘Approximately 750,000 out of 19,294,149 people, i.e. 3.9% of population used the Internet in 2010. From 2000 to 2010, Internet users grew by 3,650.0 %.

(Sources: Internet World Stats)

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