Concept

Economy of Cameroon

Summary
The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa. Agriculture In 2018, Cameroon produced:
  • 5 million tons of cassava (13th largest producer in the world);
  • 3.9 million tonnes of plantain (3rd largest producer in the world, only behind Congo and Ghana);
  • 2.6 million tons of palm oil (7th largest producer in the world);
  • 2.3 million tons of maize;
  • 1.9 million tons of taro (3rd large
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