A structural trade deficit for Cameroon
With the other African countries, the trade balance is structurally in deficit. The average deficit per year over the period 2016 to 2023 amounts to 324.1 billion CFA francs. In 2023, the trade deficit amounted to 97.2 billion CFA francs, after 257.8 billion CFA francs in 2022, a reduction of 62.3%. In 2023, the weight of trade between Cameroon and its African partners represents 9.5% of the year’s overall import expenditure and 12.7% of export earnings
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10.6% increase in 2023 in export earnings to other African countries.
In 2023, export earnings from Cameroonian products to other African countries increased by 10.6% compared to 2022 and amounted to 379 billion CFA francs. Chad is Cameroon’s leading African customer in 2023 with a market share of 39.3%. It is followed by South Africa (12.6%), Nigeria (10.4%) and the Central African Republic (9.0%). The main products exported to African countries in 2023 are: crude petroleum oils (19.2%), household soap (14.5%), sawn wood (5.3%), food preparations (4.5%) and semi-milled rice (3.3%). 20.7% decrease in 2023 in import expenditure on products originating in other African countries In 2023, expenditure on imports of goods from African countries decreased by 20.7%, to 476.2 billion CFA francs compared to 600.6 billion CFA francs in 2022. These imports are made up of 18.9% palm oil; 12.5% of cement; 10.3% of petroleum oil and 9.5% of frozen fish. Côte d’Ivoire is the leading African supplier in 2023 with 15.9% of the African market share; it is followed by Morocco (9.9%), South Africa (9.7%), Egypt (9.6%) and Nigeria (8.3%).
