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.