World prices for oil are expected to increase in 2011 before falling back in 2012. Inversely, Cameroon's oil production will continue to fall in 2011 before new production comes on stream in 2012. Overall, goods exports are expected to increase by 14.8% in 2011, boosted by global prices. Export growth in US-dollar terms will fall slightly in 2012, as new oil production is offset by falling prices. Increasing public capital investment and private inflows in the energy and mining sectors will stimulate import volumes, and as a result the trade balance will remain in deficit over the forecast period.

As international trade increases, the services deficit will increase to 2.2% of GDP in 2011-12 to pay for the transportation of goods. The income deficit will also creep up over the forecast period, to an average of 1.6% of GDP, in line with profit repatriation. Inflows of donor funds and a small increase in remittances will help to maintain the surplus on the current transfers account at an equivalent of 1.9% of GDP on average in 2011-12. Driven by trends in the trade account, the current-account deficit is forecast to widen to 4.3% of GDP in 2011 before stretching further to 4.4% of GDP in 2012.