Cameroon’s trade balance drops by 9% in 2020

Cameroon’s trade balance drops by 9% in 2020

N Melo
by N Melo
January 15, 2022 0

Cameroon’s trade balance drops by 9% in 2020

• The consequences of Covid-19

• That of Cameroon is in surplus

• The overall envelope amounts to 95.7 billion FCFA

Cameroon’s trade balance remains in surplus. But it fell by 9% in 2020. This is what emerges from the foreign trade statistics just published by the National Institute of Statistics. According to these figures, the overall envelope of Cameroon’s trade balance in its sub-region amounts to 95.7 billion FCFA. It is down by 9.5 billion FCFA, i.e. an annual shift of -9%, representing the surplus that Cameroon culminated in the trade balance in the CEMAC zone. To understand this drop, we must look to the covid-19 pandemic. “This evolution of foreign trade during the year 2020 is one of the consequences of the measures taken in response to the covid19 pandemic, in particular the closing of borders and total or partial containment”, explains Ins.

According to Ins experts, the decline in Cameroon’s export earnings vis-à-vis the countries of the CEMAC zone in 2020 was more pronounced than the decline in import expenditure. Because it reached nearly 39.4 billion FCFA in 2019, which reveals a drop of 13.8 billion FCFA year-on-year.

On the evening of December 31, 2020, Cameroon’s export earnings peaked at only 135.1 billion FCFA against 158.3 billion FCFA in 2019. This commercial fall of Cameroon in CEMAC compared to other countries is incriminable. Or 23.5 billion year-on-year, we learn from the said report. 7.4% represents the country’s exports in 2020 of goods to CEMAC markets. In this context, during the period under review, Cameroon captures 3.8% of exports in CEMAC with Chad as its first customer, followed by Gabon (1.2%) and CAR (1.2%).

N Melo
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