For a long period, Cameroon’s economic expansion was generated by the oil sector, which was then the most dynamic sector of the country’s economy. The sharp rise in crude prices on the world market is a booster to the sector, despite the gradual depletion of oil deposits. Many businesses operate in the sector, including the production of crude petroleum oils, the main export product, as well as the sale of fuel and lubricants and production of crude oil.(more…)
Cameroon has a high potential of mineral resources with over 52 types of mineral substances:
- Precious stones (gold, diamond, sapphire, platinum, graphite, etc.).
- Energy-related substances (petroleum, natural gas, lignite, schist bitumen, uranium, etc.).
- Metallic substances (titanium, bauxite, cobalt, nickel, iron, chromium, magnesium, lead, zinc, tungsten, etc.).
- building materials related substance , marble.
Cameroon’s energy balance shows a clear predominance of renewable energy (RE) sources particularity biomass. Despite the clear progress made with commercial forms of energy between 1990 and 2002, biomass is still the predominant fuel source (78,6% in 2003), with cooking and other residential uses accounting for 73%.(more…)
Agriculture is the main stay of the economy. It occupies more than 70% of the actual population, contributes 42% of the GNP and represents 51% of the exports.
Agriculture, bedrock of Cameroon’s economy: Agriculture is a key and priority sector in Cameroon’s economy. It employs about 70% of the active population, accounts for 19,8% of the GDP and represents 51% of exports. The country’s geographic location and climate have endowed it with a rich and diversified agricultural potential that comprises traditional agriculture and cash-crop cultivation. The major cash-crops are cocoa, coffee, cotton, banana, rubber, Irish potato and pepper. Other crops like groundnuts, sweet potatoes and plantains are grown essentially for household consumption. Agronomic research has been re- launched and is being intensified with a view to improving local productivity. The Agricultural potential of Cameroon is very rich and diversified because of the geographical and climatic situation of the country. Cameroon agriculture comprises more of subsistent farming while very little transformation into value added produce or goods is done.(more…)