Business in Cameroon | Over the second quarter this year, Cameroon’s economy growth stood at 3.9%. This was read in a recent report published by the National Statistics Institute (INS). During the first quarter, the figure was 3.2%.
“With regard to supply segment, all primary sector industries performed well, with the exception of industrial and export agriculture,” the document said.
In the secondary sector, thriving businesses include construction and other manufacturing industries, in particular wood processing, beverage manufacturing, crude oil refining and rubber production. On the other hand, the decline in crude oil extraction and agribusiness slowed growth in this sector.
All tertiary sector’s businesses positively contributed to the growth. Major drivers are trade and repair activities, professional business services and transport.
On the demand side, the improvement in economic growth is mainly driven by final consumption expenditures and private investment. This trend is slowed by a 10.8% decline in exports volume against 8.3% increase in imports volume.