A trade surplus for Cameroon
With the European Union (EU), the trade balance is in surplus of 201.5 billion CFA francs in 2023, down 71% compared to 2022, when the surplus amounted to 697.6 billion CFA francs.
22% drop in export earnings to the EU between 2022 and 2023
In 2023, merchandise export revenues to the European Union (EU) fell by 22% compared to 2022 and amounted to 1,524.6 billion CFA francs. This partner acquired 51% of Cameroon’s exports in 2023. However, these exports to the EU remain very undiversified and are dominated mainly by commodities or those that have undergone primary processing. They consist mainly of crude petroleum oils (43%), cocoa beans (17%) and liquefied natural gas (15%). Within the EU, the Netherlands is Cameroon’s leading customer in 2023 with 45% of the market share to this partner; it is followed by France (24%) and Italy (9%). The top seven customers account for 99% of Cameroon’s exports to the EU in 202344 and 2023 up 4% in import spending from the EU.
In 2023, import expenditure from the EU amounted to 1,323.5 billion CFA francs, up 4% compared to 2022. They represent 26.5% of Cameroon’s overall imports in 2023. The main imported product is fuel (22%), followed by wheat wheat (11%). France is the main registered supplier, with a weight of 29%, followed by Belgium (17%) and Germany (12%). The top ten suppliers in the EU account for 91% of the market share with this important partner.
