Economy - overview:
Because of its oil resources and favorable agricultural conditions,
Cameroon has one of the best-endowed primary commodity economies in
sub-Saharan Africa. Still, it faces many of the serious problems
facing other underdeveloped countries, such as a top-heavy civil
service and a generally unfavorable climate for business enterprise.
Since 1990, the government has embarked on various IMF and World
Bank programs designed to spur business investment, increase
efficiency in agriculture, improve trade, and recapitalize the
nation's banks. In June 2000, the government completed an
IMF-sponsored, three-year structural adjustment program; however,
the IMF is pressing for more reforms, including increased budget
transparency, privatization, and poverty reduction programs.
International oil and cocoa prices have considerable impact on the
economy.
GDP (purchasing power parity):
$30.17 billion (2004 est.)
GDP - real growth rate:
4.9% (2004 est.)
GDP - per capita:
purchasing power parity - $1,900 (2004 est.)
GDP - composition by sector: agriculture: 43.7% industry: 20.1% services: 36.2% (2004 est.)
Labor force:
6.68 million (2004 est.)
Labor force - by occupation:
agriculture 70%, industry and commerce 13%, other 17%
Unemployment rate:
30% (2001 est.)
Population below poverty line:
48% (2000 est.)
Household income or consumption by percentage share: lowest 10%: 1.9% highest 10%: 36.6% (1996)