Cameroon Industry Sectors

 Cameroon is primarily an agro-based economy. Almost 70% of the population is engaged in agriculture and allied activities. Mining is one of the major Cameroon industry sectors contributing a large share of the GDP. After 2005, expansion of non-oil sectors has largely contributed to the economic growth of the country.[br]

 Cameroon is primarily an agro-based economy. Almost 70% of the population is engaged in agriculture and allied activities. Mining is one of the major Cameroon industry sectors contributing a large share of the GDP. After 2005, expansion of non-oil sectors has largely contributed to the economic growth of the country.[br]

Cameroon Industry Sectors: History

Traditionally, Cameroon industry sectors were characterized by the lack of infrastructure and investment capital. Agriculture was the mainstay of the economy till 1995. The fertile land of Cameroon allows the cultivation of cash crops, such as coffee, cocoa, tobacco and cotton. However, in 1980s, the price of these cash crops declined drastically. This caused severe impact on the country’s economy resulting in a decade-long recession. In the 1990s, the IMF and World Bank provided financial assistance for the development of the country’s industrial and service sectors. Also, the economy was liberalized for greater private and foreign investment.

Major Cameroon Industry Sectors

Some major Cameroon industry sectors are:

 

• Mining: Cameroon has rich deposits of Bauxite; it however, lacks the essential infrastructure to leverage on this mineral reserve. The country also has limited reserves of gold and diamond. It produces 12,000 ct of diamonds and 20,000 oz of gold annually. 

• Oil: As per 2008 figures, Cameroon produces approximately 82 thousand barrels per day, which is 0.1% of the world’s total production. The country has oil reserves of 400 million barrels along the Niger delta basin, based on 2004 survey. As per UN figures, 30% of the total oil production get smuggled through Nigeria. 

• Manufacturing: The manufacturing sector is not completely developed in the country. There are only a few big industries in the manufacturing segment. Most consumer goods are imported from the EU nations and China.[br] 

• Chemical: Pharmaceutical and chemical process industries are gradually emerging in the country. This sector has also attracted a major share of foreign investment.

 

Cameroon economy is fueled by other industry sectors as well, such as automotive, construction, food processing, engineering and real estate. However, these sectors have small contribution to the national GDP. To sustain long-term growth, Cameroon has to focus on strengthening non-mineral sectors.