With a GDP growth rate of 3.5% in 2017 after 4.6% in 2016, the national economy continues to show its resilience. This relative performance can be explained by the gains made from a favourable international environment and the diversification of its economy. These two factors have indeed made it possible to achieve growth above the average of the CEMAC zone, which is negative by 0.5% in 2017; an improvement of half a point compared to 2016.
On the supply side, growth in 2017 was driven by the tertiary sector, which recorded a contribution to growth of 2.3 points, followed by the primary sector by 0.4 points and finally the secondary sector by 0.3 points. By branch of activity, trade and repair activities, construction and public works (BTP), agri-food industries (cocoa, coffee, tea, sugar, fats and meat and fish industry), manufacturing industries (manufacture of mineral products, metallurgical products, textiles and clothing and furniture) and subsistence agriculture drove growth in 2017. On the other hand, crude oil extraction (-1.1 points) and industrial and export agriculture had a negative impact on economic growth.
On the demand side, the growth in 2017 was mainly attributable to household final consumption, which contributed 2.8 points, followed by the private component of investment by 1.4 points. On the other hand, public consumption and public investment have reduced economic performance. Finally, although structurally in deficit, the balance of foreign trade in goods and services improved in 2017.
