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Cameroon: Economic activity recovers as trade balance holds – Report

APA-Yaoundé (Cameroon) The economy of Cameroon recovered by 4.4 percent during the second quarter of 2017 compared to the same period last year, except for crude oil extraction, which decreased in the second quarter of 2016, according to the economic report published Thursday by the National Institute of Statistics (INS).

The context was marked by an increase of 8.0 percent of the primary sector, a 0.7 percent trend change in the secondary sector and a recovery in the tertiary sector, with a growth of 5.3 percent.

In the second quarter of 2017, final consumption of households started a recovery (4.5 percent) after the slowdown of 2.1 percent observed three months earlier, with gross domestic product (GDP) growth driven mainly by the good holding of the private component, coupled with a slight increase in the public component.

The period under review was also marked by an acceleration in total investment (12.6 percent), driven by a sharp increase in public sector investment (42.8 percent), as global import volumes have increased by 5.6 percent, thanks to the combination of an increase in imports of goods (5.1 percent) and services (7.3 percent).

It recorded a decline in overall exports of 3.7 percent, compared with the second quarter of 2016, a situation following the decline in exports of goods (5.6 percent), combined with an increase in services (3 percent), exports contributing a negative 0.8 percentage point to quarterly GDP growth.

As is often the case over the years, the trade deficit in volume terms widened further between the second quarter of 2016 and the same period in 2017, marked by an observed 3.7 percent decreased in exports combined with a 5.6 percent rise in imports.

APAnews

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6 comments

  1. Happy to leasing

  2. The Good News is that a report about Cameroon used data from The National Institute of Statistics (INS). It always “World Bank , IMF or some other Fantom organization outside the Motherland”

    • That is one way to look at it. The other would be to ask which of the two our lending partners would look to for credible information. (Do not lose sight of the fact that even we ourselves have tended to prioritize outside institutions – World Bank, IMF, foreign healthcare providers, foreing news outlets in preference to our “feuilles de choux”, foreign universities to confer our honooris causas, foreign experts to carry out post-mortem examinations on the priests we kill etc).

  3. Biya will be rubbing his hands

  4. Korup Forest

    4,4 is peanuts for an African country, a growing country needs much more than 4,4 to progress.

  5. `Communal liberalism`, was written to paint a wonderful picture of how advanced,
    the country would be managed and how it will grow.
    If this is the picture today, then it has been a pure waste of time and flattery enough,
    to give a man so much mandate for nothing.
    All our capital that would have been effectively used for development, must be what
    is being wasted in partying, luxurious lifestyles abroad, bribing people left and right
    to remain in power for ever etc. etc.
    Isn`t this kind of report good reason to drive that idiot biya away from that position
    in the next election, my people and save our land?