Country Report Cameroon January 2011

Economic performance: Preliminary data indicate a large trade deficit in 2010

According to the National Institute of Statistics (NIS), Cameroon's trade deficit in the second quarter of 2010 was worse than during the same period in 2009, which was the first year in which Cameroon had run a trade deficit, according to data from the IMF dating back to 1979 (April 2010, Economic performance). The quarterly data released by the NIS indicate that exports in the second quarter of 2010 were 8.5% lower than in the same quarter in 2009, driven by a fall in oil exports (down by 16.7%). Meanwhile, imports increased by 12.2% in value terms over the same period. According to the NIS, cereals and rice increased by 70.6% and 54.9% in value terms over the period, while crude oil imports increased by almost 50%, driven by higher international prices.

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