IMPORT AND EXPORT
The import and export industry in Cameroon have been on the rise in the past decade as there is need to benefit from international trade. The high level of engagement of the country into agriculture has been one of the stimulants for fostering international trade between Cameroon and other countries in and out of the African continent. The petroleum sector also owns a major share in the total export volume.
During the 1990s, Cameroon was considered one of the strongest economies in Africa due to trade surplus. As of 2008-2009, the European Union was the largest trade partner of Cameroon. It received almost 80% of the total export volume and contributed to a major share of the Cameroon import volume. The country had a total export volume in excess of US$ 4.8 billion. Major export items in Cameroon are lumber, petroleum, cocoa, coffee, aluminium, cotton etc. Cameroon ranked 110 in the export of merchandising and 126 in the export of commercial services.
Cameroon imports include machinery, transport, equipment, fuel, food and electrical devices. France was the largest import partner of Cameroon in 2008. In 2009, Cameroon’s import volume grossed at US$4.3 billion as against US$3.7 billion in 2008.
The import and export industry have been booming as years go by and the market is still very open for new players.