Diplomatic representation: Ambassador Paul PONDI; Chancery at 2349 Massachusetts Avenue NW, Washington DC 20008; telephone (202) 265-8790 through 8794; US—Ambassador Frances COOK; Embassy at Rue Nachtigal, Yaounde (mailing address is B. P. 817, Yaounde); telephone [237] 234014; there is a US Consulate General in Douala
Flag: three equal vertical bands of green (hoist side), red, and yellow with a yellow five-pointed star centered in the red band; uses the popular pan-African colors of Ethiopia
- Economy Overview: Over the past decade the economy has registered a remarkable performance because of the development of an offshore oil industry. Real GDP growth annually averaged 10% from 1978 to 1985. In 1986 Cameroon had one of the highest levels of income per capita in tropical Africa, with oil revenues picking up the slack as growth in other sectors softened. Because of the sharp drop in oil prices, however, the economy is now experiencing serious budgetary difficulties and balance-of-payments disequalibrium. Oil reserves currently being exploited will be depleted in the early 1990s, so ways must be found to boost agricultural and industrial exports in the medium term. The Sixth Cameroon Development Plan (1986-91) stresses balanced development and designates agriculture as the basis of the country's economic future.
GDP: $12.9 billion, per capita $955; real growth rate - 8.6% (1988)
Inflation rate (consumer prices): 8.6% (FY88)
Unemployment rate: 7% (1985)
Budget: revenues $2.17 billion; expenditures $2.17 billion, including capital expenditures of $833 million (FY88)
Exports: $2.0 billion (f.o.b., 1988); commodities—petroleum products 56%, coffee, cocoa, timber, manufactures; partners—EC (particularly the Netherlands) about 50%, US 3%
Imports: $2.3 billion (c.i.f., 1988); commodities—machines and electrical equipment, transport equipment, chemical products, consumer goods; partners—France 42%, Japan 7%, US 4%
External debt: $4.9 billion (December 1989 est.)