Cameroon’s long-term rate of economic growth has been below the African average. Yet more diversification in the non-oil sector enabled steadier growth than in other oil exporting countries such as Nigeria or Angola.
This is primarily driven by the construction sector, but also by the agriculture and forestry sector, which now forms a significant component of Cameroon’s exporting basket. The two main agriculture sub-sectors, cocoa and coffee, are recipients of state support meant to increase production. EH expects GDP growth to reach +5% in 2016 and 2017.
Cameroon’s business environment needs to improve for performance to rise above current levels. The country is ranked 172 out of 189 countries in the 2016 Doing Business ranking. Its record on property registration and contract enforcement is poor.