(Business in Cameroon) - According to data just published by the National Institute of Statistics (INS), Cameroon has a trade balance deficit of CFAF 744 billion in the 1er half of 2021, an increase of 7,5% compared to the same period in 2020.
« This increase in the trade deficit results from the increase in import expenditure of 15,4% compared to the first half of 2020; the 21,5% increase in export earnings recorded over the same period was not sufficient to cover import expenditure "Says the INS.
Indeed, underlines the Institute, over the reference period, Cameroon recorded export receipts worth FCFA 1 billion for 080 million tonnes of goods. The top six products represent 3,8% of export earnings for the first half of 80,0. They are mainly crude petroleum oils (2021%); raw cocoa beans (39%); liquefied natural gas (13%); sawn timber (9%); raw cotton (7%) and logs (7%).
However, Cameroon's import expenditure during the period under review amounted to CFAF 1 billion for 824 million tonnes of goods, thus recording increases of 5,07% in value and 15,4 , 17,8% in quantity compared to the first half of 2020.
The import bill is mainly made up of fuels and lubricants (16%); chemical industry products (13%) including pharmaceutical products (5%), machinery and mechanical or electrical devices (12%), rice (5%), wheat (wheat) and meslin (5%).
It therefore emerges that Cameroon exported less when its imports were on the rise. Hence the gap of 744 billion FCFA. This could impact currencies. Because the country has spent more on imports than it has sold on exports.
Source : https://www.investiraucameroun.com/economie/1309-16843-le-deficit-de-la-balance-commerciale-du-cameroun-s-eleve-a-744-milliards-de-fcfa-au-1er-semestre-2021-en-hausse-de-7-5