Rapport Compétitivité 2022 en

REPUBLIQUE DU CAMEROUN REPUBLIC OF CAMEROON
Paix – Travail – Patrie Peace – Work – Fatherland

---------------------- ----------------------
MINISTERE DE L’ECONOMIE, DE LA
MINISTRY OF ECONOMY, PLANNING
PLANIFICATION ET DE L’AMENAGEMENT
AND REGIONAL DEVELOPMENT
DU TERRITOIRE
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COMITE DE COMPETITIVITE COMPETITIVENESS COMMITTEE
REPORT ON THE COMPETITIVENESS STATUS

OF CAMEROON’S ECONOMY IN 2022
August 2023
Contacts:
Competitiveness Committee (Partner institute of the World Economic Forum) – Technical Secretariat
Permanent secretariat: email: info@cocom.cm/ tel: 222 23 31 18
This report was drafted by the Permanent Secretariat of the Competitiveness Committee, with significant
input from the Committee’s partners, namely: the Ministry of the Economy, Planning and Regional
Development, the Ministry of Agriculture and Rural Development, the Ministry of Transport, the Ministry
of Finance/Directorate General of Customs, the Ministry of Posts and Telecommunications, the Cameroon
Employers’ Association, the Union of Industrialists of Cameroon and the Land Freight Management Bureau.
The data used in compiling this report are diverse and include data from national sources (INS, MINFI,
BEAC, sector administrations, etc.) and international sources (ITC database, UNCTAD, COMTRADE, etc.).
2
Foreword
The world economy in 2022 continued to suffer from the war in Ukraine and its
adverse effects on the prices of certain consumer goods, tighter financial conditions
in most parts of the world and disruptions to supply chains.
Cameroon however, registered 4.0% growth rate after 3.6% in 2021, despite the
challenging international context and the persistence of security crises in three
regions of the country.
The fourth annual report on the competitiveness status of Cameroon’s economy
proposes a framework for assessing the dynamics observed in economic
competitiveness in 2022.
Cameroon secured strong positions in certain international markets, notably
those for liquefied natural gas, sawn timber, cocoa paste and cocoa butter. Yet
the domestic market continues to be dominated by imports of products with high
domestic production potential. Similarly, there is room for improvement in the areas
of institutions, infrastructure and even innovation. Overall, the country is making
progress in certain sectors, but lagging behind world average in others.
Structural transformation shall be a reality, thanks to the reduction in the cost of
production factors, the pursuit of actions aimed at improving the business environment
and the densification of economic infrastructures, particularly the energy supply.
All stakeholders (public, private and even civil society) have a key role to play in making
the economy more competitive and Cameroon more attractive.
The President of the Competitiveness Committee
3
Table of contents
Foreword.................................................................................................................................................3
Table of contents........................................................................................................................ 4
List of acronyms and abbreviations............................................................................................ 6
List of tables............................................................................................................................... 7
List of graphs.............................................................................................................................. 8
Executive summary.................................................................................................................... 9
Introduction.............................................................................................................................. 11
Chapter 1: Macroeconomic performance............................................................................... 12

1.1. Economic growth........................................................................................................... 12
1.2. Current account balance and foreign exchange............................................................ 12
1.3. Evolution of price competitiveness................................................................................ 13
1.3.1. Price........................................................................................................................ 13
1.3.2. Exchange rate.......................................................................................................... 15
1.4. Budget balance and external debt................................................................................. 16
1.4.1. Budget balance....................................................................................................... 16
1.4.2. External debt........................................................................................................... 16
1.5. Investment..................................................................................................................... 17
1.5.1. Dynamics of investment intentions......................................................................... 17
1.5.2. Foreign Direct Investment (FDI).............................................................................. 17
1.5.3. Investment efficiency.............................................................................................. 18
Chapter 2: Commercial performance...................................................................................... 20

2.1. Trade in goods and services........................................................................................... 20
2.1.1. Overview................................................................................................................. 20
2.1.2. Trade in goods......................................................................................................... 20
2.1.3. Trade in services...................................................................................................... 24
2.2. Evolution of market shares............................................................................................ 24
2.2.1. Positioning of certain products on the global market............................................. 14
2.2.2. Domestic market shares.......................................................................................... 27
Chapter 3: Production costs and performance of the production system............................. 32

3.1. Production cost.............................................................................................................. 32
3.1.1. Unit costs................................................................................................................ 32
3.1.2. Structure of production costs.................................................................................. 32
3.1.3. Industrial production index..................................................................................... 34
3.2. Costs of certain production factors................................................................................ 34
3.2.1. Costs of petroleum products................................................................................... 34
3.2.2. Electricity costs........................................................................................................ 34
3.2.3. Cost of mobile telephony........................................................................................ 35
3.2.4. Cost of capital.......................................................................................................... 36
3.2.5. Cost of sea freight................................................................................................... 36
3.2.6. Cost of land freight.................................................................................................. 37
3.2.7. Mobile money transaction rates............................................................................. 37
4
3.2.8. Time and cost of moving goods through the port................................................... 38
3.3. Performance of the production system......................................................................... 38
3.3.1. Analysis of productivity........................................................................................... 38
3.3.2. World ranking of the production of a number of agricultural crops....................... 39
Chapter 4: Competitiveness through international rankings................................................. 41

4.1. Institutions..................................................................................................................... 41
4.1.1. FEM Institutions pillar............................................................................................. 41
4.1.2. Corruption Perception Index................................................................................... 41
4.2. Infrastructure................................................................................................................. 42
4.3. Financial market............................................................................................................ 43
4.4. Product market.............................................................................................................. 44
4.5. Labour market............................................................................................................... 44
4.6. Human capital................................................................................................................ 45
4.6.1. FEM skills pillar........................................................................................................ 45
4.6.2. Global Talent Competitiveness Index (GTCI)........................................................... 46
4.7. Business dynamism........................................................................................................ 47
4.8. Innovation...................................................................................................................... 47
4.8.1. FEM Innovation pillar.............................................................................................. 47
4.8.2. Global Innovation Index.......................................................................................... 48
4.9. Global Resilience Index.................................................................................................. 49
4.9.1. Economic performance........................................................................................... 49
4.9.2. Quality of risk.......................................................................................................... 49
4.9.3. Supply chain............................................................................................................ 51
4.10. Container Port Performance Index.............................................................................. 51
4.11. Competitive Industry Performance Index.................................................................... 52
Chapter 5: Competitiveness enhancement initiatives............................................................ 54

5.1. Institutional and regulatory measures........................................................................... 54
5.1.1. 2021-2023 Post-COVID recovery plan..................................................................... 54
5.1.2. Legislative measures............................................................................................... 54
5.1.3. Fiscal and customs measures.................................................................................. 54
5.1.4. Business Environment............................................................................................. 55
5.1.5. Access to financing.................................................................................................. 55
5.2. Strengthening the national production base................................................................. 55
5.2.1. Measures to support production............................................................................ 55
5.2.2. Actions undertaken in other production sectors.................................................... 56
5.2.3. Capacity building for SMEs...................................................................................... 56
5.3. Trade facilitation and export support policies............................................................... 56
5.3.1. Trade facilitation...................................................................................................... 56
5.3.2. Support to export.................................................................................................... 57
5.4. Densification of the infrastructure offer........................................................................ 57
Conclusion and recommendations........................................................................................... 58
Bibliographic references........................................................................................................... 59
Glossary.................................................................................................................................... 61
5
Report on the competitiveness status of Cameroon’s economy in 2022
List of acronyms and abbreviations

ACA African Cotton Association IDA International Development Association
ACP African Caribbean Pacific FDI Foreign Direct Investment
ANOR Standards and Quality Agency NIS National Institute of Statistics
National Agency for Information & CPI Consumer Price Index
ANTIC Ministry of Agriculture and Rural
Communication Technologies MINADER
IPA Investments Promotion Agency Development
AfDB African Development Bank Ministry of the economy, planning and
MINEPAT
regional development
BEAC Bank of Central African States
Ministry of Livestock, Fisheries and
GSPX Subcontracting and Partnership Exchange MINEPIA
Animal Industries
CAA Autonomous sinking Fund MINFI Ministry of Finance
CAMCIS Cameroon Customs Information System Ministry of small and medium size
ITC International Trade Centre MINPMEESA
enterprises, social economy and crafts
Economic Community of Central African Organisation for Economic Cooperation
ECCAS OECD
States and Development
Economic and Monetary Community of WHO World Health Organisation
CEMAC
Central Africa ONCC National Cocoa and Coffee Board
CFCE Business Creation Formality Centres United Nations Industrial Development
CIA Central Intelligence Agency UNIDO
Organisation
CICAM Cameroon Industrial Cotton Corporation PAD Douala Port Authority
CNSC National Shippers' Council of Cameroon WFP World Food Programme
National economic and financial GDP Gross domestic Product
CNEF
Committee Three-year Emergency Plan for Growth
United Nations Conference For Trade and PLANUT
UNCTAD Acceleration
Development SME Small and medium size entreprise
NACC National Anti Corruption Commission PTSJ Three years Special Youth Plan
CPM Monetary policy Committee Livestock and Fish Farming Value Chains
CTA Agrifood Technical Centre PDCVEP
Development Project
DGB Directorate General of Budget GNI Gross National Income
DGD Directorate General of Customs SCDP Cameroon Petroleum Depot Company
GESP Growth and Employment Strategy Paper National Development strategy 2020-
NDS30
DSF Statistic and Fiscal Declarations 2030
TEU Twenty-foot Equivalent Unit SODECOTON Cotton Development Company
African Guarantee and Economic SODEPA Livestock Development Corporation
FAGACE
Cooperation Fund SONARA National Refining Company
United Nations Food and Agriculture RBER Real Bilateral Exchange Rate
FAO
Organization NEER Nominal Effective Exchange Rate
ADF African Development Fund REER Real Effective Exchange Rate
FDSE Education Sector Development Fund APR Annual percentage rate
WEF World Economic Forum TIAO Tender Interest Rate
IMF: International Monetary Fund Information and Communication
Cocoa and Coffee Sector Development ICT
FODECC Technologies
Fund VAT Value Added Tax
FOTRAC CEMAC Cross-border Fair EU European Union
GAI Global Attractiveness Index WDI World Development Indicators
GB Gigabyte WEF World Economic Forum
GCI Global Competitiveness Index AfCFTA African Continental Free Trade Area
GII Global Innovation Index … Result not available
LE Large enterprise
CIG Common Initiative Group
One-Stop-Shop for External Trade
GUCE
Operations
ICOR Incremental Capital Output Ratio
6
List of tables
Table 1: Evolution of real GDP from 2019 to 2022 (%)........................................................................................... 12
Table 2 : Inflation rate per consumption function (%)............................................................................................ 13
Table 3 : Trends in real bilateral exchange rate indices from 2018 to 2022........................................................... 16
Table 4: Trends in budget balances from 2020 to 2022 (in % of GDP).................................................................... 16
Table 5 : Trends in imports of pharmaceutical products (in billions of CFA francs)................................................. 24
Table 6: Evolution of the market shares of some pineapple exporting countries (%)............................................. 25
Table 7: Evolution of the market shares of few banana exporting countries.......................................................... 25
Table 8: Evolution of the market shares of some cotton-exporting countries......................................................... 26
Table 9: Evolution of the market shares of some coffee exporting countries.......................................................... 26
Table 10: Comparative trends in Cameroon’s share of the cocoa market.............................................................. 26
Table 11 : Trends in the share of local supply on the domestic rice market............................................................ 27
Table 12: Structure of the production cost of one hectare of paddy rice................................................................ 27
Table 13 : Production, imports and share of local producers on the domestic market........................................... 28
Table 14: Production, imports, exports and share of local producers in the domestic crude palm oil market............................28
Table 15 : Trends in production, imports, exports and the share of local producers on the domestic sugar market............29
Table 16 : Trends in production, imports and the share of local supply on the domestic maize market................ 29
Table 17: Cost of electricity for businesses in selected African countries (in US dollars per kWh).......................... 34
Table 18 : Average local price per minute for a phone call in selected countries (in US dollars)............................ 35
Table 19 : Cost of a Gigabit (GB) of mobile broadband in 2022............................................................................. 35
Table 20 : Land freight cost structure for a semi-trailer in Cameroon in 2022....................................................... 37
Table 21 : Money transaction charges by MTN in some countries (in CFA francs)................................................. 37
Table 22 : Money transaction charges by Orange in some countries (in CFA francs)............................................. 38
Table 23: Scores (on 100) in the Institutions pillar sub-dimensions........................................................................ 41
Table 24: Scores in the sub-dimensions of the Infrastructure pillar........................................................................ 42
Table 25 : Scores in the sub-dimensions of the “Financial market” pillar............................................................... 43
Table 26 : Comparison of scores of Cameroon and Egypt (out of 100) in 2022...................................................... 43
Table 27 : Scores in the sub-dimensions of the “Product market” pillar................................................................. 44
Table 28: Comparison of Cameroon’s scores with those of Benin.......................................................................... 44
Table 29: Scores in the sub-dimensions of the “Labour market” pillar................................................................... 44
Table 30: Comparison of Cameroon’s scores with those of Botswana................................................................... 45
Table 31: Scores in the sub-dimensions of the “ Skills”........................................................................................... 45
Table 32: Evaluation of scores in the various pillars............................................................................................... 46
Table 33 : Comparisons with scores for Mauritius.................................................................................................. 46
Table 34: Scores in the sub-dimensions of the “Business Dynamics” pillar............................................................. 47
Table 35: Comparison of Cameroon’s scores with those of Botswana in 2022....................................................... 47
Table 36: Scores in the sub-dimensions of the “Innovative capacity” pillar........................................................... 48
Table 37: Ranking of selected countries in the Global Innovation Index................................................................. 49
Table 38: Global Resilience Index scores for selected African countries................................................................. 49
Table 39: Trends in Cameroon’s scores on the three resilience factors between 2021 and 2022........................... 50
Table 40: Evolution of Cameroon’s scores in the sub-indices of the “economic performance” factor.................... 50
Table 41: Evolution of Cameroon’s scores in the sub-indices of the “risk quality” factor....................................... 51
Table 42: Evolution of Cameroon’s scores in the sub-indices of the “supply chain” factor..................................... 51
Table 43 : CPPI 2022 of Cameroon ports and comparison ports............................................................................. 52
Table 44 : Cameroon’s and comparator countries’ scores in the industrial competitiveness index........................ 52
7
List of graphs
Graph 1 : Trends in the current account (% GDP) and net foreign assets (billions CFAF)....................................... 12
Graph 2 : Trends in prices per origin and sector..................................................................................................... 14
Graph 3 : Evolution of food products price indexes (base 100= 2014- 2016)......................................................... 14
Graph 4 : Evolution of the REER and NEER (base 2010=100)................................................................................. 15
Graph 5 : Evolution of external debt (% GDP)........................................................................................................ 16
Graph 6: Trends in net FDI (billion CFAF)................................................................................................................ 17
Graph 7 : Evolution of Cameroon’s relative investment ratio (%).......................................................................... 18
Graph 8 : Comparative trends in ICOR.................................................................................................................... 18
Graph 9 : Evolution of the balance of goods and services, export effort and propensity to import (% of GDP).... 20
Graph 10 : Trends of commercial balances (% of GDP).......................................................................................... 21
Graph 11 : Evolution of coverage rates.................................................................................................................. 21
Graph 12 : Trends of foreign penetration rate........................................................................................................ 22
Graph 13 : Growth in national supply and international demand for the top 15 products exported by Cameroon in 2022... 23
Graph 14 : Soybean production and soybean meal imports (in thousands of tonnes)......................................... 29
Graph 15 : Trends in pharmaceutical products imports (in billion CFAF).............................................................. 30
Graph 16 : Average unit production costs of companies by branch in 2022.......................................................... 32
Graph 17 : Structure of business production costs in 2020 and 2021.................................................................... 33
Graph 18 : Structure of enterprises’ production costs in 2022 per line of business (in %).................................... 33
Graph 19 : Pump price per litre of gasoline and diesel in 2022.............................................................................. 34
Graph 20 : Rate of access to electricity in selected countries in 2020................................................................... 35
Graph 21 : TEG by loan term and type of legal entity............................................................................................ 36
Graph 22 : Trends in TEU freight rate growth in 2020 and 2021............................................................................ 36
Graph 23 : Evolution of container transit times at the port of Douala (in days).................................................... 38
Graph 24 : Trends in apparent labour productivity (in billions of CFA francs)....................................................... 39
Graph 25 : Trends in apparent capital productivity (in billions of CFA francs)....................................................... 39
Graph 26 : Ranking of selected countries according to the Corruption Perception Index in 2022........................ 42
Graph 27 : Differences in sub-dimensions scores between Cameroon and Egypt in the Infrastructure pillar....... 43
Graph 28 : Differences in sub-dimensions scores between Cameroon and Botswana in the Skills pillar.............. 46
Graph 29 : Differences in sub-dimensions scores between Cameroon and Tanzania in the Innovations pillar..... 48
Graph 30 : Production performance of the industrial sector in Cameroon............................................................ 53
Graph 31 : Cameroon’s export performance in industrial goods........................................................................... 53
8
Executive summary
T
he fourth annual report on the The primary balance deficit continued to narrow
competitiveness status of Cameroon’s from 0.4% of GDP in 2020. The external debt ratio
economy aims to identify avenues accounts for 29.5% of GDP and the outstanding
for accelerating structural change, debt is made up of: (i) 45.9% of multilateral
consolidating economic growth and improving debt; (ii) 41.8% of bilateral debt; (iii) and 12.3%
the people’s well-being. The report dwells on of commercial debt.
indicators of global competitiveness and foreign
Compared to Nigeria and Senegal, investment
trade performance. It looks at the level and
is more efficient in Cameroon but relatively less
evolution of production costs and productivity,
than in several other African countries.
benchmarks the competitiveness of countries
and reviews the initiatives implemented by the As for external competitiveness, Cameroon ranks
Government and the private sector to improve 114th among the world’s exporting countries,
the business environment and strengthen dropping from 113th rank in 2021. The export
the productive capacity and resilience of effort has increased by an annual average of 3.3
businesses. Its aim is to identify the main points over the past five years, reaching 22.1% of
obstacles to competitiveness and formulate GDP in 2022. The trade balance remains negative,
recommendations that will feed into the despite a 4.2% deficit to GDP, the lowest rate
dialogue between the private and public sectors over the 2015-2022 period. The penetration rate
on the reforms needed to improve Cameroon’s of foreign products has risen from 20.0% in 2021
attractiveness. to 23.2% in 2022, an indication of difficulties for
local products in capturing a greater share of the
Macroeconomic performance is assessed based
domestic market.
on growth rates, the current account balance,
inflation, the real effective exchange rate, the Trade competitiveness and the performance
sustainability of public finances and the level of certain products exported by Cameroon are
and efficiency of investment. mixed. Liquefied natural gas, sawn timber, raw
cotton, cocoa paste and cocoa butter are the
Cameroon has achieved 4.0% GDP growth in
most dynamic products. In contrast, coffee,
2022, which is higher than the average for other
natural rubber and logs are losing ground. High-
CEMAC countries and even sub-Saharan Africa.
potential products include bananas, cocoa and
The current account deficit has narrowed from
cocoa preparations, pineapples, household
4.0% of GDP in 2021 to 2.8% in 2022.
soaps, palm oil and fertilisers.
The overall price level has risen by 15.3% over
Disruptions to supply chains resulting from
the past five years. Inflation stood at 6.3% for
global crises in 2022 contributed to the rise in
2022. The global economic situation, marked by
production costs. Indeed, Cameroon is suffering
tighter financial conditions in most regions, the
from disruptions in the supply of electricity,
war in Ukraine, the rise in the value of the US
coupled with its cost, which is higher than the
dollar and higher prices for agricultural inputs, all
average for Sub-Saharan Africa. The costs of
contributed to this inflation. These disruptions
mobile telephony, capital and commercial justice
may serve as levers to enable the government
remain high compared with peer countries.
to consolidate its import-substitution policy,
organised around a shift away from importing With regard to positioning in international
goods that can be produced locally, to bring competitiveness rankings, Cameroon has
about a structural transformation of the improved its score in most of the World
Cameroonian economy. Economic Forum pillars. The country has
thus improved its score in the Institutions,
Overall competitiveness, as measured by the
Infrastructure, Innovation Capacity, Education
real effective exchange rate, has improved.
and Skills pillars. Progress has also been made
This is due to increased gains in the export and
in the three factors of economic resilience:
import sectors.
economic performance, risks and supply chains.
9
Cameroon has demonstrated its ongoing commitment to improving governance and transparency.
Despite improvements in the main sub-dimensions of the Infrastructure pillar as a whole, these efforts
have failed to help keep pace with the leading countries in Africa.
Recent initiatives aimed at improving competitiveness mostly target improving the business climate,
promoting value chains, building business capacity and developing infrastructure.
Measures to strengthen the competitiveness of the economy and businesses include:
• Improving the efficiency of both public and private investment projects;
• Improving and accelerating the pace of implementation of economic infrastructure projects;
• Completing Cameroon’s carbon footprint, which should serve as a tool for mobilising alternative
financing;
• Encouraging the use of alternative economic financing instruments (factoring, venture capital,
crowd funding, leasing, etc.) and strengthening the SME support system;
• Involving all necessary stakeholders to prepare a common manual of procedures for company
controls and inspections, backed up by the relevant legislative and regulatory framework;
• Restructuring the education system by emphasising technical and vocational education in line with
the industrialisation objectives of NDS 30 and self-employment considerations.
10
T
he year 2022 marks the third year of implementation of the National
Development Strategy 2020-2030, which is based on the structural
transformation of the Cameroon’s economy. The post-covid 19
recovery initiated by Cameroon in 2021 has been disrupted by the
conflict in Ukraine. This war induced distortions in supply chains, giving rise
to a surge the price of imported raw materials.
Introduction
To achieve a structural transformation of the economy, Cameroon shall

continuously enhance competitiveness over the years. The Competitiveness
Committee, in its advisory role, thus produces an annual report on the
competitiveness status of the country’s economy.
This five (5) chapters report provides an overview of Cameroon’s
economic competitiveness, identifies the achievements to safeguard and
obstacles to overcome. It equally lists recent initiatives aiming to enhance
competitiveness and improve Cameroon’s attractiveness. Ultimately, it
proposes a set of measures to implement.
Chapter one presents macroeconomic performance through the growth
rate of Gross Domestic Product (GDP), inflation, the current account
balance, the Real Effective Exchange Rate (REER), Foreign Direct Investment
(FDI), the investment rate and the relative investment ratio.
Chapter 2 looks at foreign trade performance indicators and presents an
analysis of exports dynamics for the main products exported by Cameroon
or those with high export potential.
Changes in productivity and production costs are analysed in chapter 3.
Chapter 4 assesses the competitive position of Cameroon’s economy
using benchmarking indicators from international organisations on
competitiveness and attractiveness. The assessment was done on factors
such as institutions, the quality of infrastructure, the macro-economic
framework, etc., which all influence the decision to invest and the level of
productivity.
Chapter 5 reviews the initiatives implemented by the Government and
the private sector to improve the overall economic framework in which
activities are carried out and to strengthen the productive capacity and
resilience of businesses.
11
Chapter 1 Macroeconomic
performance
This chapter explores the overall performance of the economy. Indeed, improving an economy’s
competitiveness overall induces higher real incomes and greater well-being for the people.
Henceforth, this chapter reviews trends in real GDP, inflation, the current account balance, the
real effective exchange rate, FDI inflows and investment productivity.
1.1. Economic growth

The Cameroonian economy has consolidated its production dynamic in 2022, with an estimated growth
rate of 4.0%, following a 3.6% growth rate in 2021. Growth remains underpinned by the non-oil sector.
However, growth in the secondary sector is expected to decline from 2.9% in 2021 to 1.2% in 2022.
Cameroon’s performance is below the average for member countries of the Franc zone, but better than
the average for CEMAC countries or sub-Saharan African countries as a whole.
Table 1: Evolution of real GDP from 2019 to 2022 (%)
2019 2020 2021 2022
Cameroon 3.9 0.5 3.6 4.0
CEMAC 2.0 -1.6 1.4 2.8
Member countries of the franc zone 4.4 0.6 4.2 4.8
Sub-Saharan Africa 3.1 -1.7 4.5 3.9
Oil exporting countries 1.7 -2.3 2.9 3.8
Source: IMF, Regional Economic Outlook: Subsaharan Africa, April 2023
1.2. Current account balance and foreign exchange

In 2022, the current account deficit will be foreign companies established in Cameroon.
2.8% of GDP, compared with 4.0% in 2021. This Net foreign assets increased by 21.6% in 2022,
result confirms the deficit trend in the balance mainly due to the good performance of export
of monetary flows linked to international revenues, following the significant rise in crude
trade observed since 2008 and is indicative of oil and natural gas prices, combined with the
competitiveness problems. This deficit results repatriation of export revenues by oil companies.
from a persistently unfavourable balance of goods, Foreign exchange reserves represent 4.7 months
a balance of trade in services that is showing little of imports for CEMAC member countries, while
improvement and a primary income balance that Cameroon’s reserves represent 7.0 months of
is negatively affected by interest paid on the imports.
external debt and the repatriation of profits by
Graph 1 : Trends in the current account (% GDP) and net foreign assets (billions CFAF)
Source: BEAC and MINFI data

12
The balance of trade in goods and services remains in deficit despite a steady increase in net foreign
assets since 2016. This situation is indicative of a surge in imports as compared to exports. Moreover,
difficulty of the local supply of intermediate and final consumption products to successfully position itself
on the markets as a replacement for imported products is still a real concern in the country’s economic
policy.
The accumulation of external deficits since 2008 may eventually raise questions about the sustainability
of debt financing and culminate in a balance of payments crisis with a fall in investment and employment,
all of which would have a negative impact on productivity, the key to prosperity.
1.3. Evolution of price competitiveness

A nation’s price competitiveness reflects its ability to maintain a price/cost advantage over foreign
products. It is determined based on several factors such as national prices, the exchange rate, the interest
rate, etc.
1.3.1. Price
The overall price level has risen by 15.3% over conditions in most regions, the war in Ukraine,
the past five years. Its evolution over the period the rise in the value of the US dollar and higher
2017-2022 reveals a constant inflationary surge prices for agricultural inputs. On the domestic
across the different sectors of activity. front, this surge in inflation is attributable to food
For 2022, the inflation rate stands at 6.3%, prices (+12.9%) and restaurant and hotel services
compared with 2.3% the previous year, thus (+6.4%). The rise in food prices is attributable to
exceeding the critical threshold of 3% set by the increases in the prices of oils and fats (+27.0%),
CEMAC in its multilateral surveillance mechanism. breads and cereals (+16.3%), fish and seafood
Overall, inflation stemmed from a global (+14.4%), meat (+12.2%), milk, cheese and eggs
economic situation, marked by tighter financial (+10.7%), and vegetables (+7.6%).
Table 2 : Inflation rate per consumption function (%)

Consumption functions 2020 2021 2022
Food products and non-alcoholic beverages 3.6 4.3 12.7
Tobacco and drugs 3.0 2.1 4.1
Clothing and footwear 2.3 2.2 4.0
Housing, water, gas, electricity and other fuels 3.0 1.8 1.9
Furniture, household goods and routine household maintenance 1.5 1.4 5.6
Health 0.2 0.2 0.4

Transport 2.0 0.8 2.7
Communication 0.6 0.4 0.8
Leisure and culture 1.6 1.0 1.7
Education 0.7 1.2 2.5
Restaurants and hotel 2.3 1.5 6.3
Various goods and services 1.3 1.1 4.0
Global index 2.5 2.3 6.3
Source: From NIS data
These disruptions represent an opportunity for the government to make the local agro-industry a key
component of the import-substitution policy by replacing imported flour with local flour (maize, cassava,
potato, etc.).
13
These disruptions
These disruptions represent
represent an an opportunity
opportunity forfor the
the government
government toto make
make the
the local
local agro-
agro-
industry aa key
industry key component
component of of the
the import-substitution
import-substitution policy
policy by
by replacing
replacing imported
imported flour
flour
with local
with local flour
flour (maize,
(maize, cassava,
cassava, potato,
potato, etc.).
etc.).
Graph 22 :: Trends
Graph Trends in
in prices perGraph
prices per origin : Trends
origin2and
and sector in prices per origin and sector
sector
Contribution of
Contribution of local
local and
and imported
imported Local price
Local price indices
indices by
by sectors
sectors
inflation to
inflation to total
total inflation
inflation
150
150
77
140
140
66
130
130
55
120
120
44
110
110
33
100
100
22 2017 2018
2018 2019
2019 2020
2020 2021
2021 2022
2022 2023
2023
2017
11 Products from
Products from the
the primary
primary sector
sector
00 Products from
Products from the
the secondary
secondary sector
sector
2018
2018 2019
2019 2020
2020 2021
2021 2022
2022 Products from
Products from the
the tertiary
tertiary sector
sector
Local
Local Imported
Imported Total inflation
Total inflation Overall index
Overall index
transportation cost, the disruption of supply circuits and the weakness of food p
Source: From
Source: From NIS
NIS data
data Source: From NIS data
in the main production basins.
Depending
Depending
Depending on
on theon theoforigin
origin
the origin of the
the supply,
of the supply,
inflation
supply, inflation
is more istomore
likelyis
inflation more likely
be caused
likely to
byto beproducts
local
be caused by
caused by local
local
(6.4%) than by
imported
This products
products
products (5.0%).
is symptomatic
(6.4%) than
(6.4%) The
than by prices
by imported
imported of products
of an economy from
products (5.0%).
products the
whose
(5.0%). primary
The prices
The sector
productive
prices have been particularly
productsperformance
of products
of from the
from dynamic
primaryis slowly im
the primary
compared
sectorto other
have sectors,
been due to
particularlya surge in
dynamictransportation
compared cost,
to the
otherdisruption
sectors,
sector have been particularly dynamic compared to other sectors, due to a surge in of
duesupply
to a circuits
surge and
in the
amplified by the rise in world prices
weakness of food production in the main production basins. for the inputs needed by industry and agric
theis symptomatic
This global level and
of an based
economy on productive
whose FAO statistics,
performancealmost
is slowlyall agricultural
improving, amplifiedfood
by theprices h
rise in world prices for the inputs needed by industry and agriculture. At the global level and based on
since
FAO 2015.
statistics, almost all agricultural food prices have risen since 2015.
Graph 3 : Evolution of food products
Graph 3 : Evolution price~~indexes
of food products 44 ~~ indexes
price (base(base
100=100=
2014- 2016)
2014- 2016)
180
160
140
120
100
80
60
40
20
0
2008 2010 2012 2014 2016 2018 2020 2022
Food price index Dairy price index Cereals price index
Source: From FAO data Source: From FAO data

The Government has taken anti-inflationary measures, which have contained overall price level. The
The Government
Government has issued twohas taken
decrees, oneanti-inflationary measures,
of which makes it compulsory which
to submit pricehave
lists forcontained
certain ov
consumer products in advance and the other sets out the list of products and services whose prices and
level. The Government has issued two decrees, one of which makes it comp
rates are subject to prior approval procedure before being put on sale on the national market. Producers,
submitand
importers price lists for
wholesalers certainlisted
of products consumer products
below are required in advance
to submit their price and thetariffs
lists and otherto sets o
the Government for approval before placing them on the market.
of products and services whose prices and rates are subject to prior approval p
before being put on sale on the national market. Producers, importers and whol
14
products listed below are required to submit their price lists and tariffs to the Go
Box 1 : List of products whose price Box 2 : List of products and services whose prices and
lists are subject to prior government tariffs are subject to the prior approval procedure
approval
1. Milk 11. Domestic gas
1. Pasta 2. Rice 12. Cement
2. Sardines in oil
3. Fish 13. Reinforcing steel
3. Margarine
4. Alcohol and spirits
4. Crude palm oil 14. Roofing sheets
5. Soaps and detergents 5. Refined vegetable oils 15. Auxiliary maritime
6. Electrical packaging, cables and wires 6. Kitchen salt transport services
7. Paints and tiles 7. Sugar 16. Port services
8. Bread and pastries 17. Public passenger
Source: Order No. 0094/ 9. Flour transport by road and
MINCOMMERCE of 14 April 2022 rail
10. Mineral water, beer
The prices of products listed in Box 2 and soft drinks
Source: Order No. 0095/MINCOMMERCE of 14 April 2022
are subject to Government approval
before sale. 1.3.2. Exchange rate Source: Order No. 0095/MINCOMMERCE of 14 April 2022
1.3.2.1. Evolution of the real effective exchange rate (REER)
1.3.2. Exchange rate
The real effective exchange rate is the relative domestic price compared with the average
1.3.2.1. Evolution of
of partner
the realprices. Theexchange
effective real effective
rateexchange
(REER) rate of a country helps establish to what extent
variations in exchange rates, prices or costs in different trading partners influence the
The real effective exchange rate is the relative Cameroon’s price competitiveness. With updated
competitiveness
domestic price compared of the
with the countryofconcerned.
average data for the period 2016-2022, the REER has fallen
partner prices. TheGiven
real effective exchange rate of by 2.7exchange
the role played by the real effective points between 2021 performance
in economic and 2022, reflecting
and the
a country helps establish to what extent variations a gain in price competitiveness.
methodologies that vary from one producer to another, the Competitiveness Committee
in exchange rates, prices or costs in different
has a tool to monitor and analyse the evolution
trading partners influence the competitiveness AnalysisofofCameroon's price competitiveness.
price competitiveness With
between 2021
updated data for the period 2016-2022,and
of the country concerned. the 2022
REERshows a depreciation
has fallen by 2.7 points of the CFAF
between 2021
against the
and 2022, reflecting a gain in price competitiveness. currencies of most trading partners.
Given the role played by the real effective Cameroon’s improved competitive position in
Analysisperformance
exchange in economic of price competitiveness
and the between2022 2021 and 2022 to
is attributable shows
the aprice
depreciation of the
differential in
methodologies that varyagainst
CFAF from one producer of
the currencies tomost trading
favour partners.
of Cameroon and toimproved
Cameroon's the depreciation of
competitive
another, the Competitiveness
position in 2022Committee hasto the price
is attributable the Nominal Effective
differential Exchange
in favour Rate (NEER).
of Cameroon and to the
a tool to monitordepreciation
and analyseofthe evolutionEffective
the Nominal of Exchange Rate (NEER).
GraphGraph 4 : Evolution
4 : Evolution ofand
of the REER theNEER
REER(base
and2010=100)
NEER (base 2010=100)
115
110
105
100
95
90
85
80
2018 2019 2020 2021 2022
REER NEER
Source:
Source: Competitiveness Competitiveness
Committee, 2023 Committee, 2023
1.3.2.2. Trends in real bilateral exchange rates
In 2022, the real bilateral exchange rate depreciated against Nigeria, the Netherlands, Indonesia, Belgium,
1.3.2.2. Trends in real bilateral exchange rates
China, Spain, Russia, Mauritania, Senegal and Togo. Cameroon has been competitive in its trade with
these countries. OnIn 2022,other
the hand,
the real the bilateral
bilateral exchange
exchange rate rose compared
rate depreciated with all
against Nigeria, theother CEMAC
Netherlands,
member countries. Indonesia, Belgium, China, Spain, Russia, Mauritania, Senegal and Togo. Cameroon has
been competitive in its trade with these countries. On the other hand, the bilateral exchange
15
rate rose compared with all other CEMAC member countries.
Table 3 : Trends in real bilateral exchange rate indices from 2018 to 2022
Partners and competitors 2018 2019 2020 2021 2022
South Africa 0.4 1.8 15.2 -8.9 -2.3
Belgium -1.0 1.0 1.5 0.01 -3.2
China 1.3 -1.4 1.8 -1.8 -3.2
South Korea 1.3 2.5 5.1 0.3 1.5
Côte d’Ivoire 0.7 3.6 0.1 -1.8 0.9
Spain -0.6 1.7 2.6 -0.6 -2.1
Gabon -3.5 0.0 1.3 0.9 1.9
Indonesia 8.9 -6.3 5.5 2.5 -5.9
Mauritania 2.2 -2.4 3.3 -0.9 -17.0
Nigeria -5.6 -12.6 8.1 1.0 -15.6
The Netherlands -0.6 -0.2 1.0 -0.2 -3.6
Portugal 0.1 2.1 2.3 1.2 -1.6
Russia 10.3 -4.0 12.4 1.6 -17.9
Senegal 0.6 0.7 0.0 0.0 -3.1
Togo 0.1 1.8 0.6 -1.8 -1.6
Türkiye 20.2 -0.9 14.8 12.0 2.5
Source: Competitiveness Committee, 2023
1.4. Budget balance and external debt

The consolidation of macroeconomic stability, a factor of competitiveness is assessed through the level of
the budget balance and the viability of the external debt. In recent years, Cameroon engaged in reforms
in the public finance, to better control of public accounts.
1.4.1. Budget balance

The primary balance deficit, which measures the State’s capacity to intervene in the economy and
support its long-term investment strategies (thereby improving attractiveness and reducing the cost of
production or transaction factors), fell from 2.6% of GDP in 2020 to 1.5% in 2021. It continued to narrow
from 0.4% of GDP in 2022. The overall budget balance deficit fell by 1.4 points compared to 2021 to stand
at 1.1% of GDP in 2022.
Table 4: Trends in budget balances from 2020 to 2022 (in % of GDP)

Nature of Balance 2020 2021 2022
Primary balance -2.6 -1.5 -0.4
Overall balance (scheduling basis) -3.5 -2.5 -1.1
Source: MINFI/DGB, June 2023
1.4.2. External debt Graph 5 : Evolution of external debt (% GDP)

The public debt ratio at the end of
December 2022 is estimated at 44.8%
of GDP, an increase of 8.2% compared
with 2021. This is partly explained by
the 12.5% rise in the dollar compared
with the CFA franc. In 2022, the
Government has decided to diversify
issuance through the open-ended
public securities market.
Source: MINFI/DGB, June 2023
16
The external debt ratio accounts for 29.5% of GDP and the outstanding debt is made up of: (i) 45.9%
of multilateral debt; (ii) 41.8% of bilateral debt; (iii) and 12.3% of commercial debt. However, the
outstanding direct debt of the Central Government (11,455 billion) is made up of (i) 71.1% of debt from
external creditors and (ii) 28.9% of debt from domestic lenders, including outstanding debts of more
than 3 months. The predominant currencies are: (i) the euro (28.0%), (ii) the CFAF (27.9%), (iii) the dollar
(20.8%) and (iv) SDRs (14.6%).
1.5. Investment
This section reviews trends in investment efforts, as well as the efficiency and productivity of investment.
1.5.1. Dynamics of investment intentions
In the public sector, 1,419 billion has been investors and the Investment Promotion Agency
earmarked for public investment in 2022, an (API). These agreements amount to CFAF 5,000
increase of 5.0% compared with 2021. The bulk billion in projected investment and more than
of this amount will be allocated to infrastructure 100,000 jobs.
construction (€939.9 billion), production and These investments are mostly concentrated in
trade (€147.8 billion), and €102.4 billion to the some sectors. Including: agribusiness, hotels,
General Administration. housing, health, the wood industry and energy.
In the private sector, as at 31 December 2022, The challenge remains for investors to turn these
there were over 260 agreements signed between intentions into actual projects.
1.5.2. Foreign Direct Investment (FDI)

Following the drop in FDI recorded in 2020 against the backdrop of the global health and economic crisis,
FDI flows to Cameroon increased by 42.9% in 2021, before falling slightly by 3.7% in 2022. Most FDI in
Cameroon comes from the European Union, particularly France and Germany, and goes into the mining
industry, including oil extraction. In the banking sector, however, there has been a breakthrough by direct
African investors,
thewith the Nigerian
Nigerian multinational
multinational ACCESS
ACCESS BANKdue
BANK due to
to start operations
operations in
in2022,
2022,following
following in
in the footstepsthe
of UBA BANK and BANGE BANK.
footsteps of UBA BANK and BANGE BANK.
Graph
Graph 6: Trends in net FDI 6: Trends
(billion in net FDI (billion CFAF)
CFAF)
600
500
400
300
200
100
0
2018 2019 2020 2021 2022(e)
Source: MINFI/DP (*Data

Source: for 2022 are
MINFI/DP estimates)
(*Data for 2022 are estimates)
Globally,
Globally, the risks the risks
associated with associated with the
the coronavirus coronavirus
pandemic, pandemic,
the pace the paceofofvaccination
of the roll-out the roll-out of
programmes and vaccination
economic programmes and economic
support measures, support
the real estate measures,
crisis thethe
in China, real estate crisis
persisting in China,
Ukrainian
conflict, the fragile
the macroeconomic situations
persisting Ukrainian in keythe
conflict, emerging
fragile markets and the uncertainty
macroeconomic situations ofin the
keyglobal
emerging
policy environment with regard to investment have negatively influenced FDI flows in 2022.
markets and the uncertainty of the global policy environment with regard to investment
The reduction inhave negatively
the FDI envelopeinfluenced
received byFDI flows in in
Cameroon 2022.
2022 is consistent with the overall decline
observed in theTheCEMACreduction in the FDI envelope received adverse
zone as a whole (-12,0%). Besides the effects in
by Cameroon of the
2022waris in Ukraine, with
consistent this the
drop in FDI inflows to CEMAC could be explained by the pressure exerted on governments by their debt
overall decline observed in the CEMAC zone as a whole (-12,01%). Besides the adverse
burden.
effects of the war in Ukraine, this drop in FDI inflows to CEMAC could be explained by
the pressure exerted on governments by their debt burden. 17
1.5.3. Investment efficiency
1.5.3. Investment efficiency

1.5.3.1. Relative investment ratio
The evolution of the relative investment ratio over the period 2017-2022 reveals that on all the
countries selected, Ethiopia, Nigeria and Senegal have made less effort to invest than Cameroon.
Evolutionrelative
Graph 7of :Cameroon’s
Graph 7 : Evolution of Cameroon’s
investment ratiorelative
(%) investment ratio (%)
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
2017 2019 2021 2022
Ivory Coast Rwanda Senegal Ghana Ethiopia Nigeria South Africa
Source: Based on WEO data Source: Based on WEO data

1.5.3.2. Productivity of investment
1.5.3.2. Productivity of investment
For the increase in the relative investment ratio to translate into a gain in competitiveness,
For the increase in the relative investment ratio The review of the ICOR for the year 2022 shows
Cameroon must ensure a level of marginal capital efficiency comparable to that of the
to translatebenchmark
into a gain in competitiveness, that, on average, the marginal amount of
countries. In this respect, the evolution of the Incremental Capital Output
Cameroon must ensure a 3level of marginal capital investment capital needed to generate a unit of
Ratio (ICOR) ) which measures the marginal efficiency of capital, can help refine the
efficiency comparable to that of the benchmark output (GDP) and thus increase investment is
countries. Inanalysis
this ofrespect,
the relative investment ratio. ICOR is a measure that evaluates the marginal
the evolution of more efficient in Cameroon (5.2) than in Nigeria
quantity of investment
the Incremental Capital Output Ratio (ICOR) capital required to generate oneand
(6.9) unit Senegal
of output (9.6).
(GDP). A high ICOR
value indicates
) which measures that the country's
the marginal efficiencyproduction
of is inefficient and therefore not preferable.
Whereas a negative ICOR
capital, can help refine the analysis of the value reflects an It is also noted
unproductive that the
or inefficient use ICOR value for Cameroon
of resources.
relative investment ratio. ICOR is afor
measure remains above three, which indicates a situation
The review of the ICOR the year that
2022 shows that, on average, the marginal amount of
evaluates the marginalcapitalquantity of inefficiency. This result is probably indicative of
investment neededoftoinvestment
generate a unit of output (GDP) and thus increase investment
the difficulties observed in bringing investment
capital required
is moreto efficient
generate one unit of
in Cameroon output
(5.2) than in Nigeria (6.9) and Senegal (9.6).
(GDP). A high ICOR value indicates that the projects to completion and/or on schedule. It also
It is also noted that the ICOR
country’s production is inefficient and therefore value for Cameroonechoes the
remains delays
above observed
three, which in the commissioning
indicates a
not preferable. Whereas
situation a negative
of inefficiency. ICOR
This value
result of certain public investment
is probably indicative of the difficulties observed inprojects (energy,
reflects an bringing
unproductiveinvestmentor inefficient telecommunications, motorways,
use of and/or on schedule. It also echoes the delays
projects to completion etc.), thereby
resources. observed in the commissioning of certaindelaying public the expectedprojects
investment effects in(energy,
terms of reducing
telecommunications, motorways, etc.), thereby delaying the expected effects in termsincreasing
the costs of certain factors or of the
supply of infrastructure.
reducing the costs of certain factors or increasing the supply of infrastructure.
Graph 8 : Comparative trends in ICOR

Graph 8 : Comparative trends in ICOR
2.1 1.9
1.8
1.5
1.2
1.2
1.0
0.9 0.8 0.8 0.8 0.7
0.6 0.7 0.7
0.6 0.6
0.6 0.6 0.5
0.6 0.4 of0.4 0.4 0.4 to produce 0.4 0.5 0.5
ICOR is the number
3
investment
0.4 units required 0.4 one additional unit of GDP.
0.4 0.4
0.3 0.3
0.3 0.3
0.2 0.3
0.3
0.0
2017 2019 2021 2022
~ 10 ~
Cameroon Ivory Coast Rwanda Senegal Ghana Ethiopia Nigeria South Africa
Source: Based on WEO data

Source: Based on WEO data
The volume of private or public investment in the production of goods and services is not
18 always sufficient. Cameroon's relative costs in bringing companies into line with regulatory
requirements, although not specific to the country, may partly explain the slowdown in
The volume of private or public investment in the is also hampered by the lack of a continuous
production of goods and services is not always supply of raw materials and other inputs, such as
sufficient. Cameroon’s relative costs in bringing electricity, upstream of the sector. Furthermore,
companies into line with regulatory requirements, insufficient use of ICTs to optimise high-potential
although not specific to the country, may partly sectors in agriculture in general and agro-industry
explain the slowdown in investment productivity. to maximise gains from logistics, is hampering
this sector. Specifically, the contraction of the
Furthermore, investment resources continue secondary sector, and in particular the industrial
to be allocated more to the service sector than fabric, poses high risks for the consolidation of
to industry or activities upstream of industry. manufacturing added value, as envisaged in the
The supply chain in the agro-industrial sector Master Plan for Industrialisation.
In a context where global economic activity continues to be weakened by uncertainties linked to the
war in Ukraine, the tightening of financial conditions, inflationary pressures, as well as tensions in
supply chains, the national economy is showing good resilience, compared with other countries. This
resilience is attributable to the diversity and quantity of local products on the market, but also by the
policy of stabilising prices of petroleum products at the pump through subsidies, which cost the State
around CFAF 775 billion in 2022. There is need for Strategic industrial policies to reverse the deficit in the
balance of trade and take advantage of the advent of the African Continental Free Trade Area (AfCFTA).
The government and other stakeholders must ensure that the private sector is better financed and that
investments are more effective and efficient.
19
Chapter 2: Commercial performance
Chapter 2
Commercial performance
This chapter analyses competitiveness from the point of view of commercial performance.
It reviews indicators of trade in goods and services with the rest of the world. The
positioning of certain strategic or high-potential products on domestic or international
markets is also assessed. Trade between the region and the European Union is given
This chapter analyses competitiveness from the point of view of commercial performance. It
particular attention
reviews indicators. of trade in goods and services with the rest of the world. The positioning of
4
certain strategic or high-potential products on domestic or international markets is also assessed.

2.1. Trade in goods
Trade between and services
the region and the European Union is given particular attention.
This section examines the evolution of indicators that provide an overall picture of the
2.1. Trade in goods and services
economy's commercial competitiveness. The dynamics of trade in products is also
This section examines the evolution of indicators that provide an overall picture of the economy’s
reviewed.
commercial competitiveness. The dynamics of trade in products is also reviewed.
2.1.1.2.1.1.
Overview
Overview
In 2022, the value
In 2022, the value of Cameroon’s trade in goods
of Cameroon's andin
trade services
goodsincreased by 27.5%,increased
and services compared with
by a27.5%,
10.8%
increase the previous year. Cameroon is increasingly becoming involved in global trade; its openness has
compared withina2021
risen from 12.5% 10.8% increase the previous year. Cameroon is increasingly becoming
to 14.5%.
involved in global trade; its openness has risen from 12.5% in 2021 to 14.5%.
Graph 9 : Evolution of the balance of goods and services, export effort and propensity to import (% of GDP)
Graph 9 : Evolution of the balance of goods and services, export effort and propensity to import (% of GDP)
2.5
2.0
1.5
In % of GDP
1.0
0.5
0.0
2017 2018 2019 2020 2021 2022
-0.2
-0.5 -0.2 -0.3 -0.3
-0.4 -0.5
-1.0
Goods and services balance Export effort Propensity to import

The export effort (or export rate) has increased by an annual average of 3.3 points over the
The export effort (or export rate) has increased by an annual average of 3.3 points over the past five years,
past five years, reaching 22.1% of GDP in 2022. Cameroon however, is ranked as the 114th
reaching 22.1% of GDP in 2022. Cameroon however, is ranked as the 114th largest exporter in the world
largest
, i.e. oneexporter in the world
rank lost compared
5
, i.e.
to 2021. one rank
Imports lostand
of goods compared to 2021.forImports
services account of larger
a relatively goodsshare
and
services
of GDP over account for a relatively
the 2017-2021 largercompared
period (23.6%, share ofwithGDP overforthe
22.1% 2017-2021
exports). Overall,period (23.6%,
the balance of
goods and services
compared deficit has
with 22.1% for narrowed
exports).inOverall,
2022, fromthe4.7% of GDPof
balance in goods
2021 toand
1.5%services
of GDP. deficit has
narrowed
2.1.2.in 2022,infrom
Trade goods 4.7% of GDP in 2021 to 1.5% of GDP.
According
2.1.2. to customs
Trade in goodsstatistics (June 2023), the value of trade in goods fell by 6.3% in 2022, after rising
by 24.9% in 2021. Imports continue to account for a larger share of GDP (16.6% in 2022 compared with
According
15.4% in 2021)todue
customs statistics
to the growth (June 2023),
in purchases of fuelsthe
andvalue of trade
lubricants, but areinless
goods fell than
dynamic by 6.3% in
exports.
Exportsafter
2022, rose rising
by 45.1%,
by while
24.9% imports grewImports
in 2021. by only 19.9%. However,
continue technological
to account content
for a larger has been
share low
of GDP
in the goods
(16.6% exported
in 2022 by the country.
compared The export
with 15.4% basketdue
in 2021) has to
changed very little
the growth in in 2022, consisting
purchases mainly
of fuels and
of primary goods and a few low-processed products (cocoa butter/paste, sawn timber, etc.).
4
The EU-CMR EPA entered a new phase in August 2022 with the 7th tariff dismantling.
5
According to data from the International Trade Centre
20
goods and a few low-processed products (cocoa butter/paste, sawn timber, etc.).
Graph2.1.2.1.
10 : Trends of commercial balances (% of GDP)
Trade balances Report on the competitiveness status of Cameroon’s economy in 2022
trade balanceOverall
The balances
2.1.2.1. Trade remainstrade
inbalance
deficit overNon-oil
the pasttrade balance
eight years, although the size of the defic
The tradehas beenremains
balance reduced in 2022
in deficit over (4.2%
the pastofeight
GDP, the
years, lowesttherate
although sizeover
of thethe period
deficit 2015- 2022
has been
reduced in 22022
0 1 7 (4.2%oil,
Excluding of 2GDP,
the the lowest
0 1 8deficit 2 rate
0 1 9 over
is larger the of
(9.6% period
2 0 2015-
2 0GDP 2022).
in 2022) 1Excluding
2 0 2 and widens oil, the
2 0 2at
2 andeficit
averageis annua
larger (9.6% of GDP in 2022) and widens at an average annual rate of 4.5 points over the 2018-2022
period. rate of 4.5 points over the 2018-2022 period.
Graph 10 : TrendsGraph
of commercial balances
10 : Trends (% of GDP)
of commercial balances (% of GDP)
Overall trade balance Non-oil trade balance
-0.4
-0.5
-0.5
-0.6
2017 2018 2019 2020 2021 2022
-0.6
-0.6
-7.7
-8.6
-8.6
-8.8
-9.2
-0.4
-1.0
-0.5
-0.5
-0.6
-0.6
-0.6
-7.7
Source: Data from MINFI/DGD and NIS

-8.6
-8.6
-8.8
-9.2
-1.0
2.1.2.2. Rate of coverage of imports by exports
Source:and
Source: Data from MINFI/DGD Data from MINFI/DGD and NIS
NIS
The share of imports covered by exports stood at 74.8% in 2022, up 7.7 points com
2.1.2.2.
2022Rate
hasofthe
coverage
bestofresult
importssince
by exports
2017. The non-oil cover rate is lower (40.6% on av
The share2.1.2.2. Ratecovered
of imports of coverage of imports
by exports by exports
stood at 74.8% in 2022, up 7.7 points compared to 2021. 2022
period).
has the best result since 2017. The non-oil cover rate is lower (40.6% on average over the period).
The share of imports covered by exports stood at 74.8% in 2022, up 7.7 points compared t
Graph2022
11 : Evolution of coverage
has the best Graph
result 11 : Evolution
rates
since 2017. The of coverage
non-oilrates
cover rate is lower (40.6% on average o
80 period).
70 Graph 11 : Evolution of coverage rates
60 80
50 70
40 60
30 50
40
20
30
10
20
0 10
0 2017 2018 2019 2020 2021 2022
2017 2018 2019 2020 2021 2022
Taux de couverture global Taux de couverture hors pétrole
Taux de couverture global Taux de couverture hors pétrole
Source: Data from MINFI/DGDSource: Data from MINFI/DGD
Source: Data from MINFI/DGD
2.1.2.3. Domestic market penetration rate
The penetration rate of foreign products on the domestic market is 23.2% in 2022, after 20.0% in 2021.
This reflects the difficulty for local producers to gain a greater share of the domestic market, since at the
same time imports of final consumer goods have increased.
~~1313
~~
21
The penetration rate of foreign products on the domestic market is 23.2% in 2022, after
20.0% in 2021. This reflects the difficulty for local producers to gain a greater share of the
Report on the competitiveness
domestic status of Cameroon’s
market, since ateconomy in 2022
the same time imports of final consumer goods have increased.
Graph 12 : TrendsGraph : Trends of
12penetration
of foreign rateforeign penetration rate
25
20
15
10
0
2017 2018 2019 2020 2021 2022
Source: Data from MINFI/BP andData

Source: NIS from MINFI/BP and NIS
2.1.2.4. Dynamics of trade in key products

2.1.2.4. Dynamics of trade in key products
In 2022, Cameroon's top ten export goods will account for more than 90% of the total value
In 2022, Cameroon’s top ten export goods will account for more than 90% of the total value of exports.
These are crudeof petroleum
exports. These are crude
oils (43.3% petroleum
of total exports),oils (43.3%natural
liquefied of total
gasexports),
(18.2%),liquefied
raw cocoanatural
beans gas
(18.2%),
(9.2%), sawn timber rawraw
(6.1%), cocoa beans
cotton (9.2%),
(4.5%), sawn
cocoa pastetimber
(2.4%),(6.1%), raw cotton
logs (2.2%), (4.5%),
cocoa butter cocoaraw
(1.6%), paste
aluminium (1.4%) and raw rubber (1.2%).
(2.4%), logs (2.2%), cocoa butter (1.6%), raw aluminium (1.4%) and raw rubber (1.2%).
Over the period 2018-2022,
Over the period exports of bananas,
2018-2022, exports raw
of cocoa
bananas, beans,
rawraw rubber,
cocoa beans,logs
rawand raw aluminium
rubber, logs and raw
have declined on average, while the other six products have recorded an average increase
aluminium have declined on average, while the other six products have recorded an in the quantities
exported.
average increase in the quantities exported.
Three groups emerge from a joint review of trends in Cameroon’s exports and global demand: (i) dynamic
Three
products (rise in groups
national exports emerge fromdemand);
and world a joint review
(ii) thoseof losing
trendsmomentum
in Cameroon's
(fall in exports
national and global
exports
and world demand);
demand:and(i)(iii) products
dynamic with strong
products (rise inpotential
national(fall in national
exports exports
and world and rise
demand); in world
(ii) those losing
demand). momentum (fall in national exports and world demand); and (iii) products with strong
potential
Liquefied natural (fall timber,
gas, sawn in national
raw exports
cotton, and
cocoarisepaste
in world demand).
and cocoa butter are the most dynamic
products. In contrast,
Liquefied natural gas, sawn timber, raw cotton, cocoa paste and cocoaproducts
coffee, natural rubber and logs are losing ground. High-potential butter areinclude
the most
bananas, cocoa and cocoa preparations, pineapples, household soaps, palm oil and fertilisers.
dynamic products. In contrast, coffee, natural rubber and logs are losing ground. High-
potential products include bananas, cocoa and cocoa preparations, pineapples, household
soaps, palm oil and fertilisers.
~ 14 ~
22
Graph 13 : Growth in national supply and international demand for the top 15 products exported by
Cameroon in 2022
Source: data from CCI/CNUCED
Graph 13 : Growth in national supply and international demand for the top 15 products exported by Cameroon in 2022
~ 15 ~
Source: data from CCI/CNUCED
23
2.1.3. Trade in services

The structural deficit in the external account for services has worsened in 2022. The balance’s widening is
mainly attributable to freight transport services, driven by the increase in imports of goods whose freight
is handled by foreign companies.
Table 5 : Trends in imports of pharmaceutical products (in billions of CFA francs)
2019 2020 2021 2022
Transports: of which -228.4 -113.4 -212.6 -424.7
Passengers -121.9 -82.2 -88.8 -101.7
Freight -191.7 -101.0 -294.9 -361.9
Other transports 85.3 69.8 46.4 38.8
Travel -55.5 -70.5 -59.5 -41.2
Insurance and pension services -45.5 -37.8 -48.9 -30.6
Other n.c.a services of which: -93.2 -50.7 -22.7 -120.5
Technical assistance to businesses -95.2 -70.6 -164 -130.1
Total -361.6 -236.4 -343.7 -617.0
Source: Competitiveness committee based on data from MINFI/DP
Beside land and pipeline transport (goods All of these developments illustrate a loss of
and Chadian oil), the other sectors exposed competitiveness in the Cameroonian economy
to international competition strive to conquer during the period under review and bear witness
the local market, especially freight. The lack of to the limited capacity of Cameroonian supply
competitiveness in transport services inevitably to respond to the ever-increasing demand for a
creates a bias that can adversely affect the number of services.
performance of goods exports.
Numerous constraints continue to hamper the
The balance of purchases/sales of technical development of foreign trade, including: (i) the
assistance services highlights the competitiveness identification of potential markets and buyers,
of national skills and the application of national access to inputs at competitive prices and the
preference in the solicitation of expertise for costs associated with international transport
the performance of certain technical work by in the case of exports; (ii) port congestion, low
companies: nearly €1,000 billion was spent by ownership of reforms, and unofficial payments
the private sector on importing foreign technical made along cross-border corridors in the case of
assistance services over the period 2017-2022. imports.
2.2. Evolution of market shares

Market shares are considered here as outcome indicators of competitiveness. Indeed, an economy or a
company capable of producing quality goods at lower costs as opposed to its competitors is in a better
position to conquer and preserve shares in its various markets.
Cameroon’s share of the world market remains insignificant in 2022 (0.002%). Cameroon, despite ranking
114th largest exporter in the world in 2022, still occupies a respectable position in exports of a number of
products. Namely: 1) sawn sapelli and iroko wood (1st exporter worldwide); 2) other sawn tropical wood
(3rd worldwide); 3) cocoa paste (4th worldwide); 4) veneer sheets (6th worldwide); 5) natural rubber
latex (9th worldwide); 6) fresh bananas and cocoa butter (11th worldwide); 7) liquefied natural gas (20th
worldwide) and 8) crude petroleum oils (20th worldwide).
2.2.1. Positioning of certain products on the global market

This section analyses Cameroon’s shares on the international market for some export products for which
the country has comparative advantages. These include pineapple, banana, cotton, coffee and cocoa.
• Pineapple
The global pineapple market was dynamic in 2022, with an increase of almost 3.0% in the volume of
imports. The United States of America, with 32,8% of purchase is the world’s largest importer of
pineapple. The European Union (EU) remains the main export market for Cameroonian pineapple. The
main Cameroonian pineapple customers are France (59.0%), Belgium (32.0%) and Italy (4,7%).
24
Cameroon’s shares in the world pineapple market remain relatively low, i.e. 0.1% in 2022 and 0.1% on
average over the 2018-2022 period. Cameroon’s standing on this market has declined compared to 2012
when it accounted for 0.7%.
Table 6: Evolution of the market shares of some pineapple exporting countries (%)
Exporters Rank 2018 2019 2020 2021 2022 Average
Cameroon 36th 0.2 0.2 0.1 0.1 0.1 0.1
Costa Rica 1st 49.8 44.9 45.6 48.6 48.6 47.9
Philippines 2nd 9.2 14.8 15.2 13.2 13.2 12.3
Côte d’Ivoire 19th 0.6 0.5 0.5 1.5 1.5 0.7
Source: Data from CCI/CNUCED
Significant efforts are therefore still needed to better leverage this market, dominated by countries such
as Costa Rica (first global exporter) and the Philippines (second global exporter) which respectively hold
47.9% and 12.3% market share in 2022.
Cameroon lost two ranks in 2022 and ranked 36st global fresh pineapple exporter, behind competitors
such as Côte d’Ivoire that ranks 19th (-10 ranks as opposed to 2021) with 1.5% market shares.
The productivity differential and areas exploited for pineapple production are among other factors
explaining Cameroon’s performance for this product, for which the potential demand is high. According
to the FAO1, pineapple production yields per hectare are two times lower in Cameroon than in countries
such as Costa Rica.
• Banana
Cameroon’s share of this market has remained virtually stable at around 2% since 2019. Cameroon is the
second producer of ACP countries, 10th largest exporter of banana, behind countries such as Ecuador
(1st with 26.0% share) and the Philippines (2nd with 8.6% shares), but ahead of Côte d’Ivoire (17th with
1.4% share).
The quantities of banana exported, up 0.5% in 2022, are mainly directed towards Europe, especially
Belgium (51.6%), France (17.9%), the United Kingdom (15.9%) and Italy (13.3%). Cameroon accounts for
almost 4.0% of European banana imports.
Table 7: Evolution of the market shares of few banana exporting countries

Cameroon 10th 0.5 2.1 2.1 2.2 2.3 1.8
Ecuador 1st 26.3 24.6 27.2 26.0 26.0 26.5
Philippines 2nd 12.6 14.9 12.2 8.6 8.6 11.5
Côte d’Ivoire 17th 1.5 1.3 1.2 2.9 2.9 1.7
FAO data indicate that Cameroon’s yield per hectare is less than half Ecuador’s yield per hectare.
• Cotton
In 2022, the global cotton market remains dominated by China, the United States of America, Brazil and
India, with respectively 23.0%, 18.6%, 6.7% and 5.7% of market shares. Cameroon is the world’s 56th
largest exporter of cotton (the same rank as in 2021), with a share of 0.2%. Cameroonian cotton is mainly
exported to Bangladesh (56.4%), Malaysia (26.3%) and China (5.3).
According to the African Cotton Association (ACA)2, world cotton production is declining steadily; this
however has no impact on the price due to the consistent stocks held by the largest producers and which
accounts for over 70% of world production. The stagnation of Cameroon’s share of the world cotton
market between 2021 and 2022 is problematic in view of local seed cotton production, estimated at
357,000 tonnes in 2020, with a prospect of 600,000 tonnes by 2030.
1 http://www.fao.org/faostat/fr/#data, consulted on 23/06/2023
2 http://www.hubrural.org/L-Association-cotonniere-africaine.html?lang=fr, consulted on 23/06/2023
25
Table 8: Evolution of the market shares of some cotton-exporting countries

Cameroon 56th 0.3 0.1 0.3 0.1 0.1 0.2
China 1st 25.7 25.2 23.3 22.0 23.8 23.8
United States 2nd 14.0 14.1 14.8 11.5 14.6 14.6
Côte d’Ivoire 20th 0.6 0.7 0.7 0.4 0.6 0.6
Cameroon’s low market share reflects the unfavourable yield differential: cotton productivity is five times
lower than in China.
• Coffee
In 2022, the value of world coffee imports has risen by 27.7%. The main exporters are Brazil (18.5%),
Colombia (8.9%), Switzerland (7.4%), Germany (7.3%) and Vietnam (6.8%).4 Cameroon’s share of this
market remains minimal (0.1% on average over the period 2018-2022). Cameroon is the 54th largest
coffee exporter in 2022 (from 49th in 2021), behind Côte d’Ivoire (41th). The main Cameroonian coffee
customers are Algeria (18.6%), France (15.8%), Belgium (14.5) and Portugal (14,3%).
Table 9: Evolution of the market shares of some coffee exporting countries

Cameroon 54th 0.1 0.1 0.1 0.1 0.1 0.1
Brazil 1st 14.3 15.3 16.1 16.0 18.5 16.0
Vietnam 5th 9.4 7.5 6.4 6.5 6.8 7.3
Côte d’Ivoire 41st 0.4 0.5 0.3 0.3 0.2 0.3
Coffee production yields per hectare in leading countries such as Brazil and Vietnam are respectively 6
and 8 times higher than in Cameroon.
• Cocoa
In 2022, world exports of cocoa beans fell by 15.3% compared to 2021, while imports by value fell by
18.3%. The main importing countries are the Netherlands (17.4%), Germany (13.3%), Malaysia (12.1%),
the United States of America (10.6%) and Belgium (9.8%). The world cocoa market remains dominated by
Côte d’Ivoire, the leading exporter, with 36.3% market shares, followed by Ghana (14.8).
Cameroon is the 6th exporter of cocoa beans (a three-points loss compared to 2021), behind Nigeria
(6.3%), with 5.7 market shares). Cameroonian cocoa is mainly sold to the Netherlands (73.8%), Malaysia
(9.4%), Indonesia (8.0%) and Türkiye (3.2%).
Table 10: Comparative trends in Cameroon’s share of the cocoa market

Cameroon 6th 5.4 7.4 7.1 5.6 5.7 6.2
Côte d’Ivoire 1st 33.8 38.5 40.1 42.9 36.3 38.3
Ghana 2nd 25.4 20.0 46.1 16.1 14.8 18.5
Nigeria 5th 2.7 2.7 3.1 5.1 6.3 4.0
In addition, it should be noted that Cameroon’s shares in the world cocoa market have not significantly
increased since 2018, due in particular to the emergence of an internal market driven by the increase
in local bean3 processing capacities. This transformation dynamic should be more sustained, since the
export market could become more competitive with the influx of exports from China. In addition, action
should be taken to improve post-harvest cocoa processing, in order to guarantee the quality of the beans.
3 According to the National Cocoa and Coffee Board (NCCB), the volume of cocoa processed locally rose by 3.3% in 2020
to 62,341 tonnes, mainly due to the entry into the sector of a new operator, Atlantic Cocoa.
26
2.2.2. Domestic market shares

This section examines the evolution of local producers shares on the domestic market for a few consumer
goods, notably rice, fish, maize, sugar, crude palm oil, soy bean meal and pharmaceuticals. The choice
of products is guided by their exchangeability and the availability of the data necessary for the analyses.
• Rice
National rice production, although on an upward trend in recent years, remains well below national
demand. Over time, this shortfall in production, which has led to an increase in imports, has been
exacerbated by inadequate performance in the production of substitutable goods such as starches and
cereals. In 2022, rice imports are set to rise by 10% (after 35% in 2021), to 845,000 tonnes.
Table 11 : Trends in the share of local supply on the domestic rice market
2018 2019 2020 2021 2022
Production (10 3 tonnes) 215.3 334.0 140.2 -- --

Imports (10 3 tonnes) 561.1 894.5 591.6 776.6 845.0
Domestic market (10 3 tonnes) 776.4 1228.5 731.8 -- --
Share of local supply (%) 27.7 27.2 19.2 -- --
Source: Data from MINADER, MINFI/DGD
Actions to be taken to improve the local supply of rice on the market include: (i) substantial increase in
cultivated areas, (ii) strengthening of competence, as well as technical and technological capacities of
actors. To increase cultivated areas, the State will pursue the development of rice-growing areas. A survey
conducted among producers shows that development accounts for nearly 38.5% of the production cost
of paddy rice.
Table 12: Structure of the production cost of one hectare of paddy rice4
Share (%)
Site acquisition (rental) 4.7
Site preparation (land development) 38.5
Seed 16.5
Maintenance 20.7
Harvest 17.8
Transport and handling 1.8
Total 100.0
Source: Competitiveness committee
Strengthening technical skills involves the definition of training curricula in monitoring technical production
routes, the training of young people and producers retraining. In addition, technical and technological
capacity building refers to equipment (mechanisation) and innovation (high yield seeds).
Through the rice sector development strategy, the Government aims to increase national production to
750,000 tonnes by 2030 in order to raise the self-sufficiency rate to 97%. This strategy provides for the
development of 60,000 ha for irrigated rice and 200,000 ha for rainfed rice, as well as the production of
6,000 tonnes of certified seed per year.
• Fish farming
National fish production over the period 2018-2022 is on an upward trend, with average annual growth
of almost 4%. However, this output is still insufficient to meet domestic demand. The local supply deficit
is made up by imports, which amounted to 241 798 tonnes in 2022, up 27.3% on 2021.
4 Established on the basis of raw data collected from rice producers.
27
Table 13 : Production, imports and share of local producers on the domestic market
2018 2019 2020 2021 2022
335.1 219.6 223.4 233.1
Production (10 3 tonnes) 293.0
185.7 201.7 190.0 241.8
Imports (10 3 tonnes) 225.3
520.8 421.3 413.4 474.1
Demand met (10 3 tonnes) 518.3
56.5 64.3 52.1 54.0 49.1
Share of local producers (%)
Source: Data from MINEPIA, MINFI/DGD
Numerous actions have been taken by the of inputs (fry and feed), intensive production,
Government to raise the production level in the processing and distribution of fish to boost the
fisheries sector. These include better control of supply of the sector. In addition, the Investment
the coastline, continuing the fight against illegal Promotion Agency has signed an agreement with
fishing and the development of commercial Fish & Co, relating to a project for the production
aquaculture. Moreover, MINEPIA has selected of fish, fry, marine and freshwater shrimp
41 operators involved in different links of the farming, followed by the construction of a fish
aquaculture value chain, notably the production feed production plant.
• Crude palm oil

Domestic production typically covers over 70% of domestic demand for crude palm oil. It supplies refining
plants, soap factories and final household consumption. Part of the production is exported to countries in
the Central African sub-region, notably Chad.
In 2022, the share of local supply on the domestic crude palm oil market was 73.7%. Down 11.5 points
compared to 2021. The country has been facing a structural deficit for several years due to strong demand
from processing companies, which have made massive investment.
Table 14: Production, imports, exports and share of local producers in the domestic crude palm oil market
2018 2019 2020 2021 2022
Production (10 3 tonnes) 413.0 420.0 450.0 450.0 300.0
Imports (10 3 tonnes) 56.0 56.3 58.2 82.5 107.7
Exports (103 tonnes) 1.5 1.6 1.3 4.2 0.7
Internal market (10 3 tonnes) 467.5 474.7 506.7 528.3 407.0
Share of local producers (%) 88.3 88.5 88.8 85.2 73.7

Import authorizations are issued to operators based on estimated needs. However, these measures still
can help meet all the needs of the industry. Imports of crude palm oil rose by 30.5% in 2022 to 107.7
million tonnes, reflecting the growing difficulty for processors to source their raw material locally.
The entry into the sector of CAMVERT SA, which has launched a 4,500-hectare planting campaign in
2022, with a projected production of 180,000 tonnes of crude palm oil per year, augurs well for the
strengthening of the local supply of crude palm oil.
• Sugar
Cameroon is faced with a structural deficit in sugar. The share of demand covered by local supply fell from
59.8% in 2020 to 56.3% in 2021. To bridge the gap, the government is authorising imports, which rose by
1.2% in 2022 to 110,400 tonnes.
28
2018 2019 2020 2021 2022
Production (10 tonnes)
3
124.0 130.0 140.0 140.0 -- economy in 2022
Report on the competitiveness status of Cameroon’s
Imports (10 3 tonnes) 85.9 71.7 94.7 109.1 110.4
Table 15 : Trends in production, imports, exports and the share of local producers on the domestic sugar
Exports (103 tonnes) market 0.1
0.1 0.5 0.5 0.0
Internal market (10 3 tonnes) 209.8 201.6 234.2 248.6 --
2018 2019 2020 2021 2022
Share of local producers (%) 59.1 64.5 59.8 56.3 --
Production (10 tonnes)
3
124.0 130.0 140.0 140.0 --
Source: 3Data from MINADER, MINFI/DGD
Imports (10 tonnes) 85.9 71.7 94.7 109.1 110.4
Exports (103 Maize
tonnes) 0.1 0.1 0.5 0.5 0.0
Internal market (10 tonnes)
3
209.8 201.6 234.2 248.6 --
The local demand for maize is mainly met by local producers (over 99%). It is growing
Share of local producers (%) 59.1 64.5 59.8 56.3 --
rapidly due to increasing animal
Source: Dataconsumption
from MINADER,and increased needs of agro-industries.
MINFI/DGD
Table 16 : Trends in production, imports and the share of local supply on the domestic maize market
• Maize 2018 2019 2020 2021 2022
The local demand for
3 maize is mainly met by local producers (over 99%). It is growing rapidly due to
Production (10 tonnes) 2254.0 2200.0 2100.0 -- --
increasing animal consumption and increased needs
Imports (10 3 tonnes) 13.7
of agro-industries.
14.6 19.6 34.1 12.2
Table 16 : Trends
Domestic in(10
market production,
3
tonnes)imports and the share of local
2267.7 supply on2119.6
2214.6 the domestic--maize market
--
Share of local supply (%) 2018
99.4 2019
99.3 2020
99.1 --2021 --2022
Source: (10
Production Datatonnes)
3 from MINADER, MINFI/DGD 2254.0 2200.0 2100.0 -- --
Imports (10 3imports
Maize tonnes) fell by 64.4% in 2022, 13.7 14.6
to 12,200 tonnes, 19.6due to 34.1
mainly 12.2 in local
the increase
Domestic
supplymarket (10 tonnes)
3
following the commissioning2267.7 2214.6
in November 2021 of2119.6 -- by Compagnie
a maize mill --
Share of local supply (%) 99.4 99.3 99.1 -- --
Fermière du Cameroun. However, given the momentum of domestic demand, there is a
need to step up maize production in order to make up the shortfall in local supply, and
Maize imports fell by 64.4% in 2022, to 12,200 tonnes, mainly due to the increase in local supply following
even conquerinthe
the commissioning sub-regional
November 2021 ofmarket.
a maize mill by Compagnie Fermière du Cameroun. However,
given the momentum of domestic demand, there is a need to step up maize production in order to make
Other commodities
up the shortfall in local supply, and even conquer the sub-regional market.
These are products which are of proven utility to both businesses and households, and
• Other commodities
whose market shares could not be computed due to the unavailability of statistical
These are products which are of proven utility to both businesses and households, and whose market
information
shares could not besuch as soybean
computed meal
due to the and pharmaceutical
unavailability of statistical products.
information such as soybean meal
and pharmaceutical products.
 Soybean meal
Soybean are
•Soybeans meala strategic product in livestock farming, particularly with regard to protein
Soybeans are a strategic product in livestock farming, particularly with regard to protein intake in the
intakeofinfeed.
production the production
But, as shownofinfeed.
graphBut, as shown
14, domestic in graph
soybean 14, domestic
production soybean
is far lower production
than soybean
mealisimports.
far lower than soybean meal imports.
GraphGraph 14 : Soybean
14 : Soybean production
production and meal
and soybean soybean meal
imports (inimports (inofthousands
thousands tonnes) of tonnes)
10.0
8.0
6.0
4.0
2.0
0.0
2010 2011 2012 2013 2014 2015 2016 2015 2017 2018 2019 2020 2021 2022
Soyabean production Imports of soybean meal
Source:
Source: Data from MINADER, Data from MINADER, MINFI/DGD
MINFI/DGD
~ 22 ~ 29
For example, in 2021, soybean meal imports amounted to 47,000 tonnes, while soybean production was
worth 21,400 tonnes. Imports of soya meal have almost doubled between 2021 and 2022, rising from
47,000 tonnes to 94,288 tonnes.
• Pharmaceutical products
The local pharmaceutical industry is still in its embryonic stage. The country has about fifteen industrial
units manufacturing drugs and medical consumables. The domestic supply is very insufficient and
addresses less than 5%5 of domestic needs.
The pharmaceutical products market is thus dominated by imports, the bill for which almost doubled
between 2010 and 2021, going from 69.5 billion to 188.9 billion CFA francs. It should be noted, however,
that between 2021 and 2022, these imports fell by 16.0%.
Many constraints hinder the development of the pharmaceutical industry in Cameroon, among which: (i)
high cost of production factors, (ii) massive and fraudulent imports of drugs and (iii) insufficient materials
and equipment.
Graph 15 : Trends in pharmaceutical products imports (in billion CFAF)
Source: Data from MINFI/DGD

The health authorities are implementing measures to promote the local pharmaceutical industry. In
effect, the Ministry of Public Health has taken a number of measures: streamlining the procedures for
issuing marketing authorisations for locally manufactured products, defining order quotas for wholesalers
(70/30), reducing the time taken to issue approvals, and so on.
Box 3: Positioning of Cameroonian products on the EU, ECCAS and African markets
The EU is Cameroon’s leading geo-economic trading area. On the other hand, the desire to integrate into
the global economy can lead to serious problems (free trade without safeguards tends to perpetuate
the domination of nations that were able to engage first in a growth industry). Cameroon would be
better integrated if intra-African trade was intensified. Cameroon should enhance cooperation with
neighbouring countries (by stimulating regional markets) to spur a more active participation in world
markets, particularly with the advent of the Continental African Free Trade Area (AfCFTA). The scoreboard
shows products in high demand from the targeted partners, those whose production is stagnating and
goods whose exports are declining. It also suggests ways in which public policy can be improved.
Figures from the Comtrade database show that the EU absorbs around 35% of Cameroon’s exports, while
Africa and ECCAS bought 10% and 6.3% respectively over the period 2019-2022. In total, these exports
account for an average of 0.06% of European import demand, 0.9% of ECCAS demand and 0.7% of African
import demand.
5 Speech by the Director General of the Institute for Medical Research and Studies of Medicinal Plants during the workshop
with the Regional and Divisional Delegates of MINEPAT on 18 January 2022
30
On EU markets, almost all the products exported based on cereals, flour, starch or milk; pastries
by Cameroon are dynamic (regular increase (around 4%), vegetables, plants, roots and tubers
in demand). Except for cotton (around 4% (around 3.7% of ECCAS import demand).
of European imports) and “cocoa and cocoa
On African markets as a whole, only one product
preparations” (around 2%), all other products
exported by Cameroon exceeded 1% of import
account for less than 1% of EU import demand.
demand over the period under review. Specifically
All processed products of “Cameroon origin”
soaps, organic surfactants, washing preparations,
exported to the EU account for less than 0.15%
lubricating preparations, etc., which on average
of demand for imports from this economic zone,
account for 1.6% of the import demand of client
with which Cameroon has been engaged in an
countries.
Economic Partnership Agreement for nearly 10
years. The EU, ECCAS and African markets hold great
potential for goods produced in Cameroon. While
On the ECCAS markets, apart from “publishing,
Cameroon has a comparative advantage when
press and other graphic industry products”, all
it comes to exporting certain basic products to
products exported by Cameroon are in strong
the EU market, on the other hand, processed
demand. Zinc and zinc products account for an
products and food crops can make their mark on
average of 36% of ECCAS import demand. Cocoa
the ECCAS and African markets.
and cocoa preparations account for an average
of 30% of this demand. Cameroonian products Cameroon should diversify its exports and
are the leading products on the ECCAS markets. increase their productivity. Hence, policies
This concerned: 1) soaps, organic surfactants, supporting the modernisation of productive
washing preparations, lubricating preparations, sectors, which require an environment conducive
etc. (around 13.5% of their import demand), to enterprise and investment, should be adopted.
preparations of vegetables, fruit or other parts of This could involve building up the export sector
plants (around 10% of imports), wood, charcoal for products that are most in demand regionally.
and articles of wood (around 7.5%), preparations The Government should also continue to refine
its Master Plan for Industrialisation.
The figures analysed in this chapter highlight the persistence of: (i) difficulties in integrating into global
value chains, and (ii) weaknesses in the positioning of tradable goods on the local market. All of which
may be the result of a productive sector struggling to modernise and a support policy that still needs to
be improved, particularly in terms of better prioritisation of the actions to be taken and the channels/
sectors/products of concentration to be selected. There is therefore a need to modernise the productive
sectors and pursue the policy of diversifying exported products, with the emphasis on increasing
productivity.
31
3 Production costs and performance

Chapter 3: Production costs and performance of the production system
Chapter
of the production system
This chapter discusses businesses production costs (unit costs and cost structure), the c
of certain factors of production, as well as transaction costs. It also analyses
performance
This of the
chapter discusses productive
businesses productionsystem. A costs
costs (unit downward trend in the
and cost structure), these
costscosts
of indica
certain factors of production, as well as transaction costs. It also analyses
favourable conditions for achieving competitiveness gains and vice versa. the performance of the
productive system. A downward trend in these costs indicates favourable conditions for achieving
competitiveness gains and vice versa.
3.1. Production cost
3.1. Production
3.1.1. Unitcost
costs
3.1.1. Unit costs
The analysis of unit production costs shows that the branches of activity have for the m
The analysis of unit production costs shows that the branches of activity have for the most part unit costs
part unit costs close to unit. This result reflects to a certain extent the fragility of compan
close to unit. This result reflects to a certain extent the fragility of companies. Average unit production
Average unit production costs in the extractive industries are close to one.
costs in the extractive industries are close to one.
It should be noted, however, that 25% of companies have a unit cost of less than 0.81 (
It should be noted, however, that 25% of companies have a unit cost of less than 0.81 (i.e. a profit margin
a profit margin of 19%), while 50% have a unit cost of less than 0.86, which correspo
of 19%), while 50% have a unit cost of less than 0.86, which corresponds to a profit margin of 14%.
to a profit margin of 14%.
Graph
Graph 16 16 : Average
: Average unit production
unit production costs
costs of of companies
companies by branch
by branch in 2022
in 2022
Extraction 1,02
Construction 0,93
Other industries 0,92
Transport 0,90
Forestry 0,88
Food industries 0,86
Accommodation and catering 0,85
Trade 0,83
Agriculture 0,77
0,00 0,20 0,40 0,60 0,80 1,00 1,20
Source:
Source: Based on the Based on the
Statistical andStatistical and Fiscal(DSF)
Fiscal Declarations Declarations
2022 (DSF) 2022
3.1.2. Structure
3.1.2. ofofproduction
Structure productioncosts
costs
On average, in 2022, 65.9% of companies’ production costs will be accounted for by intermediate
On average,
consumption in 2022,
costs, followed 65.9%
by labour costs of companies’
(19.1% production
of total costs on average) costs will costs
and capital be accounted
(9.3%). for
Taxes onintermediate consumption
company profits, accounted for costs, followed
an average of 5.6%by labour costs
of company costs.(19.1% of total costs on avera
and capital
It is observed that the costs (9.3%).ofTaxes
cost structure on has
companies company
remainedprofits, accounted
almost stable for
between an and
2021 average
2022. of 5.6%
Compared with 2021,
company the weight of capital expenditure is up by 0.1 percentage points, while salary costs
costs.
have increased by 1.1%. On the other hand, the weight of expenditure on intermediate consumption fell
It isto
from 66.6% observed
65.9%, asthat theon
did that cost structure
taxes of which
and duties, companies
fell fromhas
6.2%remained
to 5.6%. almost stable between 2
and 2022. Compared with 2021, the weight of capital expenditure is up by 0.1 percent
points, while salary costs have increased by 1.1%. On the other hand, the weigh
32 expenditure on intermediate consumption fell from 66.6% to 65.9%, as did that on ta
and duties, which fell from 6.2% to 5.6%.
Graph
Graph1717 Graph
: Structure of of
: Structure 17 : Structure
business of business
production
business costs inin
production production
2020 and costs in 2020 and 2021
2021
Graph 17 : Structure of business production costscosts
in 2020 2020 and
and 2021 2021
2021
2021
2021 20222022
2022
9.29.2
9.2 9.3 9.3
9.3
18.0
18.018.0 19.1 19.1
19.1
6.26.26.2 5.6 5.6

5.6
66.6
66.6
66.6 66.666.6
66.6
Capital Capital
Capital
Capital Capital
Capital
Labour Labour
Labour
Labour Labour
Labour
Corporate income tax Corporate income tax
Corporate
Corporateincome taxtax
income Corporate
Corporateincome taxtax
income
Intermediate consumption Intermediate consumption
Intermediate consumption
Intermediate consumption Intermediate consumption
Intermediate consumption
Source: Based on DSF data, 2021 and 2022
Source:
Source: Based
Based onon DSF
DSF data,
data, 2021Source:
2021 and
and Based on DSF data, 2021 and 2022
2022
2022
Thisstructure
This structure is reflected
is reflected at level
at the the level
of theofbranches
the branches of activity,
of activity, in particular
in particular intermediateintermediate
consumption
This
This structure
structure
expenditure which is is reflected
reflected
represents at
a at the
the level
level
significant ofof
share the
the
of branches
branches
production ofof activity,
activity,
costs.
consumption expenditure which represents a significant share of production costs.This inin
share particular
particular
is intermediate
intermediate
specifically high
Thisin
industries.
consumption
consumption
share expenditure
expenditure
is specifically whichrepresents
which
high in industries. representsa asignificant
significantshare shareofofproduction
productioncosts.costs.This
This
shareis isspecifically
share specificallyhigh
highininindustries.
industries.
Graph 18 : Structure of enterprises’ production costs in 2022 per line of business (in %)
Graph 18 : Structure of enterprises’ production costs in 2022 per line of business (in %)
Graph
Graph 1818 : Structure
: Structure of of enterprises’
enterprises’ production
production costs
costs inin 2022
2022 perper line
line of of business
business (in(in
%)%)
Transport 68.5 12.3 16.6 2.5
Transport
Transport
Forestry 57.6 68.5
68.5 9.1 12.3
15.9 12.3 16.6
17.316.6 2.52.5
Food industries
Forestry
Forestry 57.6 78.8
57.6 9.19.1 6,1
15.9
15.9 2.7
12.4 17.3
17.3
Hotel andindustries
Food
Food catering
industries 58.6 78.8
78.8 18.3 21.4
6,16,1 1.7
12.4 2.72.7
12.4
Hotel
Hotel Extraction
and
and catering
catering 71.9
58.6
58.6 18.311.3
18.3 14.721.4 2.1
21.4 1.71.7
Construction 74.171.9 8.9 11.313.8 3.2
14.7
Extraction
Extraction 71.9 11.3 14.7 2.12.1
Commerce 60.1 9.6 22.4 7.9
Construction
Construction 74.1
74.1 8.98.9 13.8 3.23.2
13.8
Other industries 75.1 8.1 11.7 5.1
Commerce
Commerce 60.1
60.1 9.69.6 22.4
22.4 7.97.9
Agriculture 67.8 9.5 14.7 8.1
Other
Other industries
industries 75.1
75.1 8.18.1 11.7 5.15.1
11.7
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Agriculture
Agriculture 67.8
67.8 9.59.5 14.7
14.7 8.18.1
Intermediate consumption Capital Labour Corporate income tax
0%0% 10%
10% 20%
20% 30%
30% 40%
40% 50%
50% 60%
60% 70%
70% 80%
80% 90% 100%
90% 100%
Source: Based on DSFIntermediate

data, Source: BasedCapital
2022 consumption
Intermediate consumption on DSF data,
Capital 2022
Labour
Labour Corporate
Corporate income
income taxtax
From
From thethe
operation of the
operation of DFS, it emerges
the DFS, that inputs
it emerges thatconstitute the main component
inputs constitute the main of business costs.
component of
However,
Source:
Source: it should
Based
Based onon bedata,
DSF
DSF noted
data, that data used only show corporate income tax. Other tax elements are
2022
2022
businessin costs.
included However,
the purchase pricesitofshould be noted that
other components. Thisdata used only
is particularly the show
case forcorporate income
oil products, whose
From
From
tax. thethe
Other operation
operation
tax elements ofof the
the
are DFS,
DFS,
included it it emerges
emerges
in the that
that
purchase inputs
inputs
prices constitute
constitute
of other the
the main
main
components.
price served by the markers incorporates a succession of charges generated from the import stage through component
component
This is ofof
the price (including
business
particularly
business costs.allHowever,
taxes)
the However,
costs. case for exiting the Cameroon
itshould
should
oilitproducts, whose
be Petroleum
benoted
noted
pricethat
that Depot
served
data Company
dataused
used
by the (SCDP).
only show
markers
only show corporateincome
incorporates
corporate aincome
succession
In order
tax.
tax. Other
Other oftax
to create
tax charges
more generated
added
elements
elements value
are
are from
or
included
included the import
to increase
ininthe their stage
thepurchase
purchase through
competitiveness, the
pricesofof
prices price
companies
other
other (including all
must not only
components.
components. Thisisis
This
continue
taxes) to improve
exitingthethe the quality
Cameroon of their products
Petroleum Depot and services,
Company but also
(SCDP). give priority to cost control by
particularly
particularly
optimising
thecase
casefor
all manufacturing
foroiloil products,
products,
processes.
whose
whose
The government
price
price served
served
should
bythe
ensurebythe
the markers
markers
availability
incorporatesa a
ofincorporates
quality and
Insuccession
affordable
succession ofofcharges
inputs.
order to createcharges generated
generated
more added from
valuefrom
or to thetheimport
increaseimport stage
theirstage throughthe
through
competitiveness, the price(including
price
companies (including
must allall
taxes)
taxes)
not onlyexiting
exiting theCameroon
the
continue Cameroon
to Petroleum
improvePetroleum
the Depot
qualityDepot
of Company
Company
their (SCDP).
products(SCDP).
and services, but also give
33
InInorder
ordertotocreate
createmore
moreadded
addedvalue
valueorortotoincrease
increasetheir
theircompetitiveness,
competitiveness,companies
companiesmust
must
for industrial goods, and is an indicator of changes in the production costs of industrial
companies.
companies.According
Accordingtotothe theNational
NationalInstitute
InstituteofofStatistics
Statistics(NIS),
(NIS),industrial
industrial producer
producer
prices
Report rose
on the by 13.3%
competitiveness in 2022,
status the highest
of Cameroon’s economy increase
in 2022 recorded
prices rose by 13.3% in 2022, the highest increase recorded since 2017. since 2017.
The 3.1.3.
The riseisIndustrial
rise isgreatest production
greatest(8.6% index prices
(8.6%ininproducer
producer pricescompared
comparedwithwith2021)
2021)ininmanufacturing
manufacturingand and
The industrialinproducer
especially agri-foodprice index provides
(around 10.9%). information
This on can
increase changes
be in factory gate
explained by prices
the factfor industrial
that most
especially
goods, and is an inindicator
agri-foodof(around
changes 10.9%). This increase
in the production costs can be explained
of industrial by theAccording
companies. fact that most
to the
of the
of theraw
raw materials
materials used
usedininthese
these industries
industries are
areimported
imported (wheat,
(wheat, milk,
milk, clinker,
clinker, etc.)
etc.)
National Institute of Statistics (NIS), industrial producer prices rose by 13.3% in 2022, the highest increase
and
and
by disruptions
recorded since 2017.to global supply chains. It is also an opportunity for local companies to
by disruptions to global supply chains. It is also an opportunity for local companies to
produce
The rise is substitutes
greatest (8.6%for
in these imported
producer prices inputs
compared and thus
with boost
2021) in their production.
manufacturing
produce substitutes for these imported inputs and thus boost their production. and especially in agri-
food (around 10.9%). This increase can be explained by the fact that most of the raw materials used in
3.2.
these Costs
Costsofare
industries
3.2. ofcertain production
imported
certain factors
(wheat, milk,
production clinker, etc.) and by disruptions to global supply chains. It is
factors
also an opportunity for local companies to produce substitutes for these imported inputs and thus boost
3.2.1.
their Costs ofofpetroleum
production.
3.2.1. Costs petroleumproducts
products
3.2. Costs oftocertain
According
According toGlobal
Globalproduction
Petrol
PetrolPricefactors
Price figures,
figures,petrol
petroland
anddiesel
diesel are
are relatively
relatively cheaper
cheaper in
in
Cameroon than
3.2.1. Costs
Cameroon thaninin
of Ghana,
Ghana,Ethiopia,
petroleum products
Ethiopia, Morocco
Moroccoand andRwanda.
Rwanda.ItItshould
shouldalso
alsobe
benoted
notedthat
that
prices
According
pricesare
toon
are onaverage
Global lower
Petrol
average Pricein
lower inEthiopia
figures, than
petrol
Ethiopia andindiesel
than incertain
areoil
certain oilproducing
relatively countries.
cheaper
producing The
Theprices
in Cameroon
countries. than
pricesin
Ghana, Ethiopia,
ofofpetroleum Morocco and Rwanda. It should also be noted that prices are on average lower in
petroleumproducts
productsare aregenerally
generallyapproved
approvedbecause
becauseofofthethesocioeconomic
socioeconomicissues
issuesthey
Ethiopia than in certain oil producing countries. The prices of petroleum products are generally approved
they
involve.
involve.
because of the socioeconomic issues they involve.
Graph 1919
Graph : Pump price
: Pump perper
Graph
price litre19of:of
litre gasoline
Pump and
anddiesel
price
gasoline per inin2022
litre
diesel of gasoline and diesel in 2022
2022
Price perper
Price litre ofof
litre gasoline (in(in
gasoline USD)
USD) Price
Priceper
perlitre
litreofofdiesel
diesel(in
(inUSD)
USD)
Nigeria
Nigeria 0.574
0.574 Ivory
IvoryCoast
Coast 1.082
1.082
Ethiopia
Ethiopia 1.139
1.139 Cameroon
Cameroon 1.190
1.190
Cameroon
Cameroon 1.206
1.206 Ghana
Ghana 1.250
1.250
Ghana
Ghana 1.218
1.218 Ethiopia
Ethiopia 1.251
1.251
Ivory Coast
Ivory Coast 1.347
1.347 Morocco
Morocco 1.238
1.238
Rwanda
Rwanda 1.386
1.386 Rwanda
Rwanda 1.402
1.402
Morocco
Morocco 1.409
1.409 Nigeria
Nigeria 1.820
1.820
0 0 0,50,5 11 1,51,5 00 0,5
0,5 11 1,5
1,5 22
Source:
Source: Global
Global Petrol
Petrol Price
Price Source: Global Petrol Price
The
The current
The price
current
current structure
price
price of petroleum
structure
structure products
ofofpetroleum
petroleum in Cameroon
products
products reveals thatreveals
ininCameroon
Cameroon taxes and
reveals duties
that
that make
taxes
taxes up
and
and
37.6% for
duties super,
make 31.6% for diesel and 13.3% for gasoline and that a levy of FCFA 44.88 is charged on each
duties make upup37.6%
37.6%forforsuper,
super,31.6%
31.6%for fordiesel
dieseland
and13.3%
13.3%forforgasoline
gasolineand
andthat
thataalevy
levyof
of
litre of product to support the raw product processing industry.
FCFA44.88
FCFA 44.88is ischarged
chargedononeach
eachlitre
litreofofproduct
producttotosupport
supportthe
theraw
rawproduct
productprocessing
processing
3.2.2. Electricity costs
industry.
industry.
Electricity is an important production factor for industrial companies. While access to electricity is average
3.2.2.
in3.2.2. Electricity
Electricity
Cameroon, costs
costs
the cost of electricity remains above the average for Sub-Saharan Africa.
Table 17:
Electricity
Electricity Cost
is isan ofimportant
electricityproduction
animportant for businessesfactor
production in selected
factor forAfrican
for countries
industrial
industrial (in US dollars
companies.
companies. per kWh)
While
While access to
access to
Country
electricityis isaverage
averageininCameroon,
Cameroon,the thecost 2021
costofofelectricity
electricityremains 2022
remainsaboveabovethetheaverage
averagefor
for
electricity
Sub-Saharan Cameroon
Africa. 0.15 0.15
Sub-Saharan Africa.
Côte d’Ivoire 0.20 0.20
Ghana 0.11 0.07
Morocco 0.11 0.10
Nigeria ~ ~2727~ ~ 0.10 0.08
Ethiopia 0.02 0.02
Source: Global Petrol Price
Despite significant investment in hydroelectric infrastructure, supply remains insufficient and some
companies continue to rely on their own sources, which generates additional costs and hampers their
competitiveness. Algeria, Egypt, Ghana, Mauritius, Morocco, South Africa and Tunisia have levels of
34
South Africa and Tunisia have levels of access to electricity comparable to those of
countries such as China and Poland. Cameroon, however, has an average level of access
with countries such as Côte d'Ivoire, Nigeria and Ethiopia.
access20to: electricity
Graph comparable
Rate of access to in
to electricity those of countries
selected such
countries in as China and Poland. Cameroon, however, has
2020
an average level of access with countries such as Côte d’Ivoire, Nigeria and Ethiopia.
120
Graph 20 : Rate of access to electricity in selected countries in 2020
100
80
60
40
20
Source: World Bank data (World Development Indicators)

Source: World Bank data (World Development Indicators)
To improve access to electricity for households and businesses, special attention needs to be paid to the
To improve and
transmission access to electricity
distribution for households and businesses, special attention needs to
segment.
be paid to the transmission and distribution segment.
3.2.3. Cost of mobile telephony
Competition
3.2.3. Cost ofinmobile
the mobile telephony sector has helped lower communication costs. In 2022, the average
telephony
charge for a minute’s mobile phone call is USD 0.12, below the average cost in Morocco and Côte d’Ivoire,
Competition in the
but above the cost mobile
in Ghana andtelephony
Rwanda. sector has helped lower communication costs. In
2022, theTable
average chargelocal
18 : Average forprice
a minute’s mobile
per minute phone
for a phone callcall is USD
in selected 0.12, below
countries the average
(in US dollars)
cost in Morocco and Côte d’Ivoire, but above the cost in Ghana2022
2021 and Rwanda.
Cameroon
Table 18 : Average local price per minute for a phone call in 0.13
selected countries (in 0.12
US dollars)
Morocco 2021 0.15 2022 0.13
Cameroon Ghana 0.13 0.04 0.12 0.03
Morocco Côte d’Ivoire 0.15 0.15 0.13 0.15
Ghana 0.04 0.03
Ethiopia 0.02 0.01
Côte d’Ivoire 0.15 0.15
Ethiopia Rwanda 0.02 0.08 0.01 0.08
Rwanda Source:0.08
https://www.combien-coute.net/
0.08
Source: https://www.combien-coute.net/
To allow a greater number of companies embrace this trend, it is essential that access to quality Internet
network be facilitated. The alliance for Affordable Internet compiles an annual ranking of countries according
to the cost of a gigabyte (GB) of broadband Internet. As in 2021, Sudan comes first, with an average cost
of 0.52 USD for one GB of broadband internet. Cameroon is ranked 20th (with a cost of 3.68 USD), behind
countries such as Ethiopia (3rd), Rwanda (5th) and Ghana (6th), but ahead of Côte d’Ivoire (25th).
Table 19 : Cost of a Gigabit~(GB)
28 ~of mobile broadband in 2022
Cost (in US dollars) Rank in Africa
Cameroon 3.68 20th
Morocco 2.25 9th
Ghana 2.11 6th
Nigeria 2.49 11th
Côte d’Ivoire 3.86 25th
Ethiopia 1.88 3rd
Sudan 0.52 1st
Rwanda 2.03 5th
Source: Alliance for Affordable Internet (A4AI)
35
Source: Alliance for Affordable Internet (A4AI)
3.2.4.
Report on Cost of capital
the competitiveness status of Cameroon’s economy in 2022
The cost
3.2.4. Costofof
capital is assessed on the basis of the Annual Percentage Rate (APR) applied
capital
byofbanks,
The cost capitalwhich measures
is assessed on thethe real
basis of cost of credit
the Annual borne byRate
Percentage the(APR)
borrower onbyanbanks,
applied annual
which
measures the .real
basis. 11
The cost of credit
cost borne by the credit
of medium-term borrower
roseoninan 2022
annualfor
basis.
small
6
. The cost
and of medium-term
medium-sized
credit rose in 2022
businesses for small
(+1.8 and medium-sized
percentage points), largebusinesses
businesses(+1.8
(+0.3)percentage
and other points), large (+1.4).
legal entities businesses
(+0.3) and other legal entities (+1.4). The cost of short-term credit fell by 0.56 percentage
The cost of short-term credit fell by 0.56 percentage points for SMEs and 0.98 percentage points for SMEs
and 0.98 percentage
points for largepoints for large companies.
companies.
Graph
Graph 21 : TEG by loan : TEG
21type
term and by loan
of legal entityterm and type of legal entity
Short term loans Medium term loans
16.30
17.69
14.98 10.74 12.53
12.15 9.10 9.44 8.85

18.93
13.84 13.28 16.00
12.74
6.14 8.39 7.41 8.92
2020 2021 2022 2020 2021 2022 2020 2021 2022

LOANS TO SMES LOANS TO LARGE COMPANIES LOANS TO OTHER LEGAL
ENTITIES
Source: Based on CNEF data Source: Based on CNEF data

3.2.5. Cost of sea freight
3.2.5. Cost
The cost of of
sea sea freight
freight is decisive for the competitiveness of companies in that they affect
The cost input
of seasupply
freight is decisive
costs for the competitiveness
and consequently, production costs.of
Ascompanies
containerised in traffic
that they affect input supply
represents
costs andmore
consequently, 12 production costs. As containerised traffic represents more than 60% of overall
than 60% of overall traffic, only the freight rate per Twenty-Foot Equivalent Unit
7
According
traffic, only to Regulation
theisfreight rate No. 4/19/CEMAC/UMAC/CM
perThese
Twenty-Foot Equivalent on
Unitfromthe
(TEU)overall effective rate and the repression
Asiais (47%),
analysed here. These containers
11
(TEU) and analysed here. containers mainly come Europe (36%)
mainly of usuryfrom
come the publication
Asia (47%), of banking
Europe conditions
(36%) and in the
Africa CEMAC.
(10%). The ports included
and Africa (10%). The ports included in this analysis account for at least 60% of TEUs on
in this analysis account
for at least 60% of TEUs on their respective continents.
their respective continents.
The graph below shows an increase in the average TEU ~ 29freight
~ rate in 2020 in the main Asian and European
ports, as The
wellgraph below African
as in some shows anports.
increase in the average TEU freight rate in 2020 in the main
Asian and European ports, as well as in some African ports.
Graph
Graph 22 : Trends in TEU22 : Trends
freight in TEU
rate growth freight
in 2020 rate
and 2021 growth in 2020 and 2021
30
25
20
15
10
0
2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021
-5 India China Belgium Germany France (Le Spain Ivory Coast Egypt South Africa Tunisia
(Nhava (Qingdao) (Antwerp) (Hambourg) Havre) (Valence) (Abidjan) (Alexandrie) (Durban) (Sfax)
Shava)
-10
Asia Europe Africa
Source: Based on CNSC data Source: Based on CNSC data

6 The government
According has No.
to Regulation extended the 80% rebate onon
4/19/CEMAC/UMAC/CM
13
the
thecost of freight
overall effectivetorate
beand
included in the of usury and the
the repression
customs value of goods imported by sea. This is the third extension of this measure, which
publication of banking conditions in the CEMAC.
7 was introduced
Cameroon Nationalin 2021 toBoard
Shippers mitigate the additional costs imposed on economic operators as
(CNCC)
a result of the rising cost of international freight transport.
36
3.2.6. Cost of land freight
The government has extended8 the 80% rebate on the cost of freight to be included in the customs value
of goods imported by sea. This is the third extension of this measure, which was introduced in 2021 to
mitigate the additional costs imposed on economic operators as a result of the rising cost of international
freight transport.
3.2.6. Cost of land freight
The cost of land freight affects companies’ supply costs, and rising costs are likely to put a strain on their
production costs. According to estimates by the Land Freight Management Bureau (BGFT), land freight
costs on the various corridors have risen by between 8% and 9% as a result of the increase in the price of
fuels and lubricants. The cost increase also results from higher prices for spare parts. Fuel accounts for
over 37.0% of the cost of transporting goods by land freight, followed by tyres (18.9%), the durability of
which depends on the quality of the roads.
Table 20 : Land freight cost structure for a semi-trailer in Cameroon in 2022

Fixed costs %
Repayment 11.2
Car insurance 0.7
Salaries and employer contributions 6.5
Taxes and other levies 1.7
Total of fixed costs 20.1
Variable costs
Fuel 37.5
Lubricants 1.8
Tyres 18.9
Maintenance and repair 7.5
Road costs 4.5
Road tolls 0.6
Total of variable costs 70.8
General expenses 9.1
Total 100.0
Source: BFGT
According to UNCTAD, variable costs relating to fuel, tyre wear, truck maintenance and informal payments
can be twice as high on the Ngaoundéré-Moundou corridor as in East Africa, between Mombasa and
Kampala, for example. On the Douala-Bangui corridor,, fixed costs (staff costs, licence fees, administrative
expenses, insurance, communication and security costs) are more than double those in West Africa,
between Tema and Bamako in particular. In general, transport costs in Central Africa remain high, which
affects the price of transit operations and the international competitiveness of countries9.
3.2.7. Mobile money transaction rates

Côte d’Ivoire is the only country where the cost of mobile cash withdrawals is 1% on average, but the cost
is lower in Cameroon than in Morocco, Ghana and Rwanda.
Table 21 : Money transaction charges by MTN in some countries (in CFA francs)
Operator Cameroon Côte d’Ivoire Rwanda Ghana
2% 1% 0.75% +1.5% of taxes
Withdrawal 6.0%
Min 50 - Max 3,500 Max: 5000 Max: 596 +1.5% of taxes
0.5% 0.75% +1% of taxes
sending 0 0
Max 500 Min 20 - Max 395
Source: From the operator’s websites10
8 Decision no. 000677/MINFI/DGD of 1 September 2022.
9 https://unctad.org/fr/news/pourquoi-le-transit-des-marchandises-coute-si-cher-en-afrique-centrale, consulted on
18/9/2023
10 https://mtn.cm/fr/, Consulted on 21/7/2023
37
The cost of sending money is relatively low in Cameroon (0.5% on average) compared with Morocco (3%
on average). In Côte d’Ivoire and Rwanda, sending money is free.
Table 22 : Money transaction charges by Orange in some countries (in CFA francs)
Operator Cameroon Côte d’Ivoire Morocco
1.5%
Withdrawal 1% 2%
Min 50 - Max 3.500
0.5%
sending 0 3%
Max 500
Source: From the operator’s websites
3.2.8. Time and cost of moving goods through the port

The time taken for import goods to pass through the port of Douala has been reduced over the period
2015-2022, from 25.6 to 9.3 days. This compares with an average of 19 days at the port of Kribi. While
export lead times at the port of Douala have increased, from 10.6 days in 2015 to 18.0 days in 2022, they
are less than 10 days at the port of Kribi.
Graph 23 : Evolution of container transit times at the port of Douala (in days)
Source: Based on data from the Douala Port Authority (PAD) and the Kribi Port Authority (PAK).
3.3. Performance of the production system

The performance of the production system is analysed through changes in the apparent productivity of
capital and labour and through the world ranking of the production of a number of agricultural crops.
3.3.1. Analysis of productivity

Productivity, the main determinant of comparative advantage, is a measure of the efficiency with which
a company uses the resources at its disposal to manufacture goods or offer services. The indicators used
to account for changes in productivity relate output to a single input (usually labour or capital).
In 2022 and compared with 2021, there has been an increase in the apparent productivity of both labour
and capital.
Apparent labour productivity (which reflects the volume of output generated per person employed)
increases by 15.5%, from 14.2 million in 2021 to 16.4 million in 2022.
38
Graph 24 : Trends in apparent labour productivity (in billions of CFA francs)
18 Report on the competitiveness status of Cameroon’s economy in 2022
16
Graph 24 : Trends in apparent labour productivity (in billions of CFA francs)
14
12
10
8
6
4
2
0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source: NIS/DSF data base
Apparent capital productivity rose from 15.6% in 2021 to 17.6% in 2022. Moreover,
the period 2015-2022, there Source: NIS/DSF
will be a data baserise in the apparent productivity of ca
steady
Apparentwhich
capital could be the
productivity roseresult of actions
from 15.6% taken
in 2021 to 17.6%by the public
in 2022. authorities
Moreover, through va
over the period
2015-2022, there will be aand
programmes steady rise in theIn
projects. apparent
orderproductivity of capital,
to stimulate a morewhich could
markedbe the result of in bus
increase
actions taken by the public authorities through various programmes and projects. In order to stimulate a
productivity, particular attention should therefore be paid to targeting these projects
more marked increase in business productivity, particular attention should therefore be paid to targeting
programmes
these projects and to and
and programmes ensuring synergy
to ensuring and
synergy andconsistency between
consistency between their
their interventions,
interventions, in in o
order toto maximise
maximise their their
effects.effects.
GraphGraph 25 : Trends
25 : Trends in apparent
in apparent capitalcapital productivity
productivity (in billions
(in billions of CFA offrancs)
CFA francs)
20
18 17.6
16 15.5 15.6
14 14.4
13.5
12 11.5
11.3
10 9.5
8
6
4
2
0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source: NIS/DSF data base Source: NIS/DSF data base

3.3.2.
3.3.2. World
World ranking
ranking of the
of the production
production of of a number
a number ofof agricultural
agricultural crops
crops
Cameroon’s poor marketpoor
Cameroon’s positioning
marketis largely the result of
positioning is relatively
largely lowtheproduction
result oflevels. The desired
relatively low produ
structural transformation of the economy and the promotion of import-substitution, of which agribusiness
levels. The desired structural transformation of the economy and the promotion of im
is a cornerstone, logically requires a densification of production in the agropastoral and fisheries sectors.
The boxsubstitution,
below comparesofthe which agribusiness
performance is a through
of this sector cornerstone, logically
a selection of crops.requires a densificatio
It compares the
country’sproduction in the
level of production withagropastoral and fisheries
that of the best performers sectors.
in Africa Theof the
and the rest boxworld.below compares
performance of this sector through a selection of crops. It compares the country’s lev
production with that of the best performers in Africa and the rest of the world.
39
Box 4: Performance of the production system for a few agricultural crops

Cassava Soybean In 2021, Nigeria was the world’s
Country Rank Weight Country Rank Weight
leading cassava producer, accounting
(%) (%)
Nigeria 1st 19.7 Brazil 1st 34.8
for 19.7% of global production.
Thailand 3rd 9.4 Nigeria 14th 0.3 Cameroon is the world’s 15th largest
Cameroon 15th 1.6 Cameroon 58th 0.1 cassava producer, with a share of 1.6%.
Maize Sweet potato It should be noted that cassava and
Country Rank Weight Country Rank Weight other starchy crops such as sweet potato,
(%) (%) are being promoted for the production of
United States 1st 25.9 China 1st 35.0 alternative flours to wheat, with an
South Africa 10th 1.1 Malawi 3rd 5.4 increasingly urgent call to incorporate
Cameroon 47th 0.1 Cameroon 26th 0.3
them more in the production of bakery
Potato Rice
and pastry products.
Country Rank Weight Country Rank Weight
(%) (%) Cameroon ranks 23rd and 26th
China 1st 20.1 China 1st 21.4 respectively in world production of fresh
Algeria 19th 0.9 Nigeria 15th 0.9
tomatoes and sweet potatoes, with
0.4% and 0.3% shares respectively. On
Sugar cane Fresh tomatoes
Country Rank Weight Country Rank Weight the other hand, it ranks lower in the
(%) (%) production of maize (47th), sugar cane
Brazil 1st 36.4 China 1st 26.3 (56th), soya (58th) and potatoes (76th).
South Africa 15th 0.9 Egypt 7th 2.4
Source: Based on FAOSTAT data

Source: Based on FAOSTAT data
Overall, input costs remain relatively high in Cameroon, although efforts are being made to reduce
them. In addition, inputs, which are generally supplied from outside the country, account for a large
proportion of companies’ costs. Nevertheless, business productivity improved in 2022. Efforts to produce
these inputs locally should be continued, in order to reduce imports. Companies should give priority to
controlling costs by optimising all manufacturing processes. To support them, public authorities should
ensure the availability of high-quality, low-cost inputs, but also draw up and monitor plans to reduce the
costs of specific factors (energy, land, capital, etc.).
40
Chapter 4 Competitiveness through

international rankings
This chapter compares Cameroon’s competitiveness on a global scale. It is based mainly on data
from the World Economic Forum (WEF11), but also from other international competitiveness
benchmarking institutes such as FM Global, the World Intellectual Property Organisation and
Transparency International. The competitiveness dimensions considered are: institutions,
infrastructure, innovation, human capital, the financial market, the labour market, competition,
business dynamism and resilience. A comparative analysis of the competitiveness of tourism and
travel, port logistics and industry is also presented.
4.1. Institutions
Institutions refer to the fundamental rules (constitution, legislation, laws and regulations) that define
the respective place of the state, individuals and organisations in society, as well as property rights.
The assessment of the dimension relating to institutions is based on the WEF’s “Institutions” pillar and
Transparency International’s Corruption Perceptions Index.
4.1.1. FEM Institutions pillar
In 2022, Cameroon’s score in the “institution” pillar improved by three (3) points compared to 2021.
This upward trend, which began in 2019, can be explained by a general increase in the scores of all the
sub-indicators, particularly those relating to “unofficial payments”. These results can be attributed to the
pursuit of the computerisation policy and the streamlining of administrative and financial procedures.
Efforts are still needed to eliminate unofficial payments in the areas of public procurement, justice and
taxation. Rwanda is ranked 1st in Africa in terms of institutions, while Cameroon is 14th.
Table 23: Scores (on 100) in the Institutions pillar sub-dimensions

Gap with
2021 2022 Variation
Rwanda
Ease of regulatory compliance 42.7 46.2 +3.5 37.5
Property rights 49.2 50.3 +1.1 35.5
Protection of intellectual property
53.7 54.1 +0.4 32.6
Reliability of police services 54.2 55.3 +1.1 30.5

Judicial independence 35.3 38.8 +3.5 30.4
Informal payments in import and export 32.2 37.3 +5.1 25.7
Unofficial payments in public services 38.4 43.1 +4.7 24.8
Unofficial payments in tax collection 32.4 36.8 +4.4 24
Official payments in public contracts 27.3 30.8 +3.5 21.5
Official payments in the judicial sector 32.6 36.3 +3.7 19.6
Ease of compliance with the tax system 47.5 49.8 +2.3 9.4
Source: Based on 2022 FEM data
4.1.2. Corruption Perception Index
The Corruption Perceptions Index ranks countries according to the level of perceived corruption in the
public sector. This index uses a scale ranging from zero (highly corrupt) to one hundred (very little corrupt).
11 In English World Economic Forum (WEF)
41
Graph 26 : Ranking of selected countries according to the Corruption Perception Index in 2022
Source: 2022 Transparency International’s report

With a score of 26 out of 100 in 2022, down from 27 out of 100 in 2021, Cameroon has nonetheless
moved up two places to 142nd out of 180 countries ranked according to the extent of corruption. The
least corrupt country in 2022 remains, as in 2021, Denmark (with a score of 90 out of 100). The Seychelles
is the least corrupt country in Africa (23rd in the world with a score of 70).
The National Anti-Corruption Commission (CONAC) in its 2022 report, indicates that the financial loss to
the State of Cameroon attributable to acts of corruption was at least equal to CFAF 44 billion, compared
with CFAF 17.6 billion in 2020. The same report reveals that economic and financial administrations
are among the sectors where the most denunciations have been recorded. The various recurring acts
of corruption that have been reported by citizens include the forging of signatures on administrative
documents, the drawing up of false land titles, the demand for “percentages” for the payment of bills for
public services, and partiality in the legal decisions handed down by certain magistrates.
Overall, policies aimed at improving governance and transparency continue to bear fruit, but at a relatively
slow pace. Private-sector perceptions are reflected in figures from the World Economic Forum and Transparency
International. Therefore, there is a need to speed up the implementation of appropriate reforms, with an emphasis
on limiting unofficial payments in the process of producing and delivering administrative services.
4.2. Infrastructure
This pillar takes into account the quality and density of transport infrastructure (road, rail, sea and air), the
quality and sustainability of public service infrastructure and the country’s level of internet connectivity.
Cameroon remains weakly competitive in the WEF “Infrastructure” pillar, in spite of the improvement
in its score of 1.9 points compared with 2021. The scores for all the sub-indicators improved in 2022,
although none reached 50 out of 100. Efforts are still needed to step up the efficiency of rail and air
transport services, the reliability of water supply and the quality of road infrastructure.
Table 24: Scores in the sub-dimensions of the Infrastructure pillar

Designation 2018 2019 2020 2021 2022 Variation
Quality of road infrastructure 30.1 24.1 28.4 35.8 37.7
Efficiency of rail services 30.8 28.8 27.8 31.5 36.8
Efficiency of air transport services 37.1 37.6 35.0 33.4 38.2
Efficiency of port services 35.6 34.6 35.1 38.3 42.8
Reliability of water supply 28.8 26.8 26.9 33.7 37.4
Use of digital platforms for educational services 42.8 44.0
42
A comparison of Cameroon’s performance with one of Africa’s leading countries (Egypt)
reveals major differences in the quality of road Reportinfrastructure,
on the competitiveness
the status of Cameroon’s
reliability economy
of water in 2022
supply
and the efficiency
A comparison of Cameroon’s of air transport services.
performance with one ofThe density
Africa’s of the
leading paved (Egypt)
countries road network is
reveals major
differences in the
estimated at quality
0.32 km of road
per 100infrastructure,
inhabitantstheandreliability of water
is projected to supply
rise toand0.48thekm
efficiency
in 2030. of air
transport
Furthermore, Cameroon’s first motorway, linking Kribi to Lolabé is 38.5 km long (1st phaseand
services. The density of the paved road network is estimated at 0.32 km per 100 inhabitants
is projected
of the toEdéa-Kribi-Lolabé
rise to 0.48 km in 2030. Furthermore,
highway). Cameroon’s
It serves the portfirstofmotorway,
Kribi and linking Kribi to the
improves Lolabé
is 38.5 km long (1st phase of the Edéa-Kribi-Lolabé highway). It serves the port of Kribi and improves the
competitiveness
competitiveness of theoftransport
the transport
chain chain
to andtofrom
andthe
from the port.
port.
Graph
Graph 27 :27 : Differencesininsub-dimensions
Differences sub-dimensions scores between
scores Cameroon
between and Egyptand
Cameroon in the Infrastructure
Egypt pillar
in the Infrastructure pillar
Quality of road infrastructure 38.0
Reliability of water supply 35.4
Efficiency of air transport services 35.0
Use of digital platforms for financial services 29.2
Efficiency of port services 24.1
Quality of cities and urban centers 23.4
Efficiency of public transport 22.3
Efficiency of rail services 18.1
Use of digital platforms for educational services 18.0
Source: Based on 2022 FEM data Source: Based on 2022 FEM data
The “Infrastructure” pillar remains the one in which Cameroon is the least competitive. Slight improvements have
The “Infrastructure”
been recorded pillar remains
in all sub-dimensions. However,the one in which
considerable effortsCameroon is to
are required theclose
leastthecompetitive. Slight
gap with Egypt, the
leadingimprovements
country in Africa.
have been recorded in all sub-dimensions. However, considerable efforts are required to
close the gap with Egypt, the leading country in Africa.
4.3. Financial market ~ 37 ~
This pillar covers three sub-dimensions associated with the financial conditions of an economy and which
are conducive to productivity growth. These dimensions are: availability of risk capital, soundness of the
banking system and SME financing.
In 2022, the scores for the pillar’s three sub-dimensions have improved. However, there is still a lack of
dynamism in venture capital and SME financing. This compromises the emergence of a class of innovative
SMEs capable of driving the structural transformation envisaged in SND 30.
Table 25 : Scores in the sub-dimensions of the “Financial market” pillar

2018 2019 2020 2021 2022 Variation
Soundness of banks 41.1 41.5 41.8 53.1 55.6
Availability of venture capital 24.4 26.6 26.3 27.8 31.4
SMEs financing 32.0 31.8 34.0 39.3 40.7
A comparison of performance between Cameroon and Egypt (the best African performer) shows a gap of
around 28 points in relation to the soundness of banks and SME financing.
Table 26 : Comparison of scores of Cameroon and Egypt (out of 100) in 2022
Country Gap
Sub-indices
Egypt (1) Cameroon (2) (2)-(1)
Soundness of banks 83.1 55.6 -27.5
Availability of venture capital 52.9 31.4 -21.8
SMEs financing 69.5 40.7 -28.8
43
4.4. Product market

To guarantee growth, a competitive environment is one of the necessary inputs. Market efficiency
depends on the nature of state control to limit distortions, unfair competition and monopoly situations.
Cameroon’s score in the product market pillar of the WEF has risen from 50.8 in 2021 to 52.0 in 2022. This
performance reflects improved scores in the pillar’s three sub-dimensions. Selective subsidies undermine
fair competition and hinder the efforts of certain companies to improve their performance and capture
more domestic market share.
Table 27 : Scores in the sub-dimensions of the “Product market” pillar

2018 2019 2020 2021 2022 Variation
Distorting effect of taxes and subsidies on competition 38.1 35.6 36.1 47.7 48.1
Prevalence of non-tariff barriers 42.3 41.9 42.5 53.3 55.9
Extent of market dominance 36.9 39.3 40.2 49.3 49.4
To achieve better co-ordinated, more harmonised and more transparent business support policies, we
could see the emergence of more dynamic businesses that would be beneficial to the nation.
A comparison with Benin (the best performer in Africa) reveals considerable differences in the sub-
dimensions of the pillar.
Table 28: Comparison of Cameroon’s scores with those of Benin

Country Gap
Sub-dimensions
Benin (1) Cameroon (2) (2)-(1)
Distorting effect of taxes and subsidies on competition 64.7 48.1 -16.6
Prevalence of non-tariff barriers 66.6 55.9 -10.7
Extent of market dominance 66.6 49.4 -17.2
4.5. Labour market

The WEF analyses the functioning of the labour market through productivity considerations. A more
flexible labour market signals an efficient allocation of labour between sectors of activity, resulting in
improved productivity gains.
Cameroon ranked 69th in 2022, up 10 places, although its score has remained virtually stable (51.4 out of
100 compared with 51.5 in 2021). At the level of the sub-indices, there is an overall persistence of poor
professional career management practices and ease of hiring and firing.
Table 29: Scores in the sub-dimensions of the “Labour market” pillar

Professional career management practice 34.9 37.5 38.2 45.8 47.2
Ease to hire and fire 39.9 38.8 39.6 48.7 48.5
Cooperation in industrial relations (respect for collective 53.4
39.4 38.2 39.6 51.2
agreements and trade unions, etc.)
Wages and productivity 32.6 34.6 37.1 45.6 48.2
Ease of hiring foreign labour 43.4 43.7 42.9 53.2 54.3
Internal labour mobility 38.3 38.4 42.1 64.3 56.8
44
The leading African country in the “Labour market” pillar is Botswana. Overall, Cameroon underperforms
Botswana in all sub-dimensions. The biggest gaps are in the areas of professional career management
practices and ease of hiring foreign labour.
Table 30: Comparison of Cameroon’s scores with those of Botswana

Country Gap
Sub-dimensions
Botswana (1) Cameroon (2) (2)-(1)
Professional career management practice 75.3 47.2 -28.1
Ease to hire and fire 61.5 48.5 -13.0
Cooperation in labour practices 70.0 53.4 -16.6
Wages and productivity 56.3 48.2 -8.1
Ease of hiring foreign labour 76.8 54.3 -22.5
Internal labour mobility 68.1 56.8 -11.3
Source: Competitiveness Committee based on WEF data 2022
4.6. Human capital

The assessment of the Human Capital dimension is based on the WEF’s “Skills” pillars and the European
Institute of Business Administration’s (INSEAD) Talent Competence Index.12).
4.6.1. FEM skills pillar
This pillar assesses both the quality and accessibility of education in countries. To meet the growing need
for performance, companies need to access and better manage skilled skills.
With a score of 48.4 out of 100 (up 2.3 points on 2021), Cameroon ranks 66th in the world in the Skills
pillar. In the sub-dimensions of this pillar, the quality of vocational training (56.6) and tertiary education
(55.0) scored above average. The quality of the education system (41.2), primary education (47.7) and
secondary education (47.6), on the other hand, should continue to be a priority for solidifying the
foundations of a competitive economy.
Table 31: Scores in the sub-dimensions of the “ Skills”

2021 2022 Gaps
Quality of the education system 42.7 41.2 -1.5
Quality of primary education 49.5 47.7 -1.8
Extent of staff training 50.3 51.6 +1.2
Quality of vocational training 51.6 56.6 +5.0
Quality of secondary education 44.7 47.6 +2.9
Quality of tertiary education 52.6 55.0 +2.4
Ability of the education system to pass on digital and technological skills 47.7 49.2 +1.4
Ability of the education system to pass on creative and innovative skills 38.9 44.2 +5.3
Ability of the education system to pass on skills related to collaboration and 40.9 44.4 +3.5
auto-management
Botswana, which is the best performer in Africa, could be a benchmark for the implementation of reforms
aimed at improving the quality of the education system and strengthening its ability to teach: creative and
innovative skills, skills linked to collaboration and self-management, as well as digital and technological
skills.
12 In collaboration with the Portulans Institute and the Human Capital Leadership Institute
45
strengthening its ability to teach: creative and innovative skills, skills linked to
Report on the competitiveness
collaboration status of Cameroon’s economy
and self-management, in 2022
as well as digital
and technological skills.
Graph2828
Graph : Differences
: Differences in sub-dimensions
in sub-dimensions scoresscores
betweenbetween Cameroon
Cameroon and Botswana
and Botswana in the Skillsinpillar
the Skills pillar
Quality of tertiary education 28.6

Quality of the education system 27.2
Quality of secondary education 22.2
Ability of the education system to teach creative and innovative skills 21.0
Ability of the education system to teach collaboration and self-
management skills 20.0
Quality of primary education 18.8
Ability of the system to teach digital and technological skills 15.0
Quality of vocational training 12.8
Extent of staff training 12.8
Source: Based on 2022 FEM data Source: Based on 2022 FEM data
4.6.2. Global Talent Competitiveness Index (GTCI)
18
In collaboration with the Portulans Institute and the Human Capital Leadership Institute
The Global Talent Competitiveness Index assesses all the policies and practices that enable a country to
develop, retain, attract and strengthen a skilled workforce.
Cameroon ranks 119th out of 133 countries assessed ~ 40 ~(19th in Africa), with a score of 24.5 out of 100.
Switzerland ranks first in the world with a score of 78.2, while Mauritius ranks first in Sub-Saharan Africa
with a score of 45.9.
Cameroon recorded scores below 50 out of 100 in all the sub-dimensions of this pillar. Nonetheless, it
recorded its highest score on the ability to attract sub-dimension (35.5) and its lowest on high-level skills
(9.0).
Table 32: Evaluation of scores in the various pillars

Score Rank
Facilitators 24.3 122
Ability to attract 35.5 120
Ability to develop 22.6 100
Ability to retain 24.8 120
Professional and technical skills 30.7 114
High-level skills 9.0 103
Source: Based on GTCI data, 2022
A comparison with Mauritius reveals significant differences in the ability to retain and attract talent.
Table 33 : Comparisons with scores for Mauritius

Cameroon Mauritius Gaps
Facilitators 24.3 53.6 29.3
Ability to attract 35.5 60.2 24.7
Ability to develop 22.6 26.1 3.5
Ability to retain 24.8 66.8 42.0
Professional and technical skills 30.7 51.2 20.5
High-level skills 9.0 17.3 8.3
Source: Based on the INSEAD GTCI 2022 report
46
4.7. Business dynamism

Business dynamism refers to the capacity of from 43.1 in 2021 to 45.6). Disruptive ideas
businesses to develop relationships with their by companies and the growth of innovative
suppliers, subcontractors and contractors. An companies should also be emphasised, through
agile and dynamic private sector increases strong initiatives to support the bearers of
productivity by testing new ideas and creating innovative ideas. A support fund for innovative
innovative products and services. companies would be a good way of achieving this.
Cameroon scored 43.2 in this pillar, ranking Weak business innovation means that it is
90th in the world and 15th in Africa. Cameroon, difficult to introduce and support the sustainable
compared to 2021, has improved both its score positioning of new products on existing markets,
and its ranking. Scores improved slightly in three and of existing and new products on new markets
(3) of the sub-indicators. However, there has been (within the framework of bilateral and multilateral
a decline in performance for entrepreneurial risk- trade agreements), all of which explains the
taking. There is also a willingness to delegate market share levels of resident producers.
authority within companies (the score rises
Table 34: Scores in the sub-dimensions of the “Business Dynamics” pillar
Attitudes towards entrepreneurial risk 36.8 38.6 40.2 45.7 43.0
Growth of innovative companies 33.0 33.2 34.1 41.4 41.8
Businesses are adopting disruptive ideas 31.8 33.3 34.7 40.5 42.3
Willingness to delegate authority 36.3 37.9 37.0 43.1 45.6
Source: Based on FEM data, 2022
The below-average scores for “Attitudes towards entrepreneurial risk”, obtained from the opinions of
existing businesses, reflect the difficulties they face, namely access to capital, corruption and uncertainties
linked to the economic environment and the application of regulations. The level of risk varies according
to the activities chosen, so new business start-ups are more likely to opt for trade and other services
sectors.
Botswana holds the top rank in the “Business Dynamics” pillar. Cameroon lags behind this country in the
four sub-dimensions. The difference is more pronounced in terms of willingness to delegate authority
and attitudes to entrepreneurial risk.
Table 35: Comparison of Cameroon’s scores with those of Botswana in 2022

Country Gap
Botswana (1) Cameroon (2) (2)-(1)
Attitudes towards entrepreneurial risk 64.7 43.0 -21.7
Growth of innovative companies 57.4 41.8 -15.6
Businesses are adopting disruptive ideas 63.5 42.3 -21.2
Willingness to delegate authority 78.1 45.6 -32.5
Source: Based on FEM data, 2022
4.8. Innovation
The assessment of the “Innovation” dimension focuses on the FEM Innovation Pillar and the Global
Innovation Index.
4.8.1. FEM Innovation pillar
In 2022, Cameroon’s score in this pillar will be 44.7 out of 100, compared with 40.7 in 2021. This
improvement has resulted in a higher ranking (72nd out of 140 countries, compared with 85th in 2021).
This performance is the result of improved scores in four sub-dimensions in particular, university-business
collaboration in R&D (+5.7) and collaboration between businesses (+4.1).
47
Table 36: Scores in the sub-dimensions of the “Innovative capacity” pillar

2018 2019 2020 2021 2022 Variation
University-Businesses in R&D collaboration 38.4 40.5 40.0 41.4 47.1
Buyer sophistication 30.0 33.1 35.1 46.5 48.3
Development status of clusters 35.3 40.0 42.0 41.4 43.4
Collaboration within a business 50.1 50.6 54.3 51.9 49.2
Collaboration between businesses 32.1 37.4 37.8 38.0 42.1

Evidence shows that industrial companies (agri-food and manufacturing) make very little use of the
results of both local and international research (barely 13% use them). Only 2.2% of companies have
procured research and development services (RAP, MINMIDT, 2022).
Cameroon ranks 15th among African countries with a high capacity for innovation. The leading African
country (Tanzania) has a score of 58.3 out of 100. Compared with Tanzania, Cameroon lags behind in all
five sub-dimensions, with a more pronounced gap in cluster development and inter-firm collaboration.
Graph 29 : Differences in sub-dimensions scores between Cameroon and Tanzania in the Innovations pillar

4.8.2. Global Innovation Index
The Global Innovation Index (GII), developed and published by the World Intellectual Property Organization,
reports on the performance of innovation ecosystems and tracks the latest global trends in this area. It
highlights the strengths and weaknesses of innovation and specific disparities in innovation indicators.
The GII is based on two sub-dimensions: “Innovations Inputs” (institutions, human capital and research,
infrastructures, market sophistication and business improvement), which refer to the means used
for innovation; and the actual results of innovation activities, i.e. “Innovations Outputs” (knowledge,
technologies and products of creativity).
In 2022, Cameroon ranked 121st in the world out of 132 countries evaluated (compared with 123rd in
2021), and 18th in Africa, with a score of 15.1 out of 100. Switzerland is ranked 1st in the world (score of
64.6) and Mauritius is ranked 1st in Africa and 45th in the world (score of 34.4).
48
Table 37: Ranking of selected countries in the Global Innovation Index

2021 2022
Country
Rank Score Rank score
Switzerland 1 65.5 1 64.6
Sweden 2 63.1 3 61.6
USA 3 61.3 2 61.8
France 11 55.0 12 55.0
Mauritius 52 35.2 45 34.4
South Africa 61 32.8 61 29.8
Kenya 85 27.5 88 22.7
Cameroon 123 19.7 121 15.1
Source: Based on the “Global Innovation Index” report 2022
Cameroon’s underperformance is the result of particularly low scores for the following indicators:
creativity (2.1 out of 100), knowledge and technology (12.4), human capital and research (15.2) and
innovation infrastructure (27,6). This result is corroborated by the very low level of investment in research
and development by both public and private institutions. Indeed, the Ministry’s budget for innovation is
only 0.2% of the total State budget.
4.9. Global Resilience Index

The economic resilience index analyses territorial resistance in relation to a disruption in the supply chain
of companies. These disruptions relate to risks such as geopolitical tensions, commodity price volatility
and natural disasters.
The FM Global resilience index compiles data on the economy (productivity, political risk, oil intensity of
the economy, urbanisation rate); risk quality (exposure to natural hazard risks, risk management in case
of natural hazards, fire risk management, cyber risk) and supply chains (control of corruption, quality of
infrastructure, corporate governance, supply chain visibility) of 130 countries and territories (including 24
African countries) to assess global resilience.
In 2022, Denmark was the most resilient country, with a score of 100 out of 100. It is followed by Switzerland
(97.7). South Africa is the African country with the highest score (58.8 out of 100). It is followed by
Botswana (57.7 out of 100) and Mauritius (55.4 out of 100), which are the only countries with a score
above the world average of 54.5 out of 100. Out of the ECCAS member countries, Rwanda had a score of
49.4 out of 100, before Cameroon and Chad.
Table 38: Global Resilience Index scores for selected African countries
Countries Score
South Africa 58.8
Botswana 57.7
Mauritius 55.4
Rwanda 49.4
Cameroon 27.3
Chad 18.9
Source: FM-Global Resilience Index 2022
49
In 2022, Cameroon’s score was 27.3 out of 100, compared with 26.7 in 2021. The score for the “supply
chain” and “economic performance” factors deteriorated. In contrast, the score improved by around 12
points for the “risk quality” factor.
Table 39: Trends in Cameroon’s scores on the three resilience factors between 2021 and 2022
2021 2022 Variation
Supply chain 21.1 18.9 -2.2
Risk quality 42.8 54.5 +11.7
Economic performance 28.4 20.3 -8.1

Source: FM-Global Resilience Index 2021 and 2022
4.9.1. Economic performance
For the sub-dimension capturing productivity, Cameroon’s score drops from 2.4 in 2021 to 2.0 in 2022.
The score for the political risk sub-dimension has improved from 15.6 points in 2021 to 17.1 out of 100
in 2022. The score for the oil intensity sub-dimension, which reflects the disruptive exposure due to an
oil shock, has remained virtually stable (91.6 out of 100). This indicates that the country’s vulnerability to
disruption from an oil shock (shortages, disruptions, price rises) is low. With regard to the “urbanisation
rate” sub-dimension, its score has improved by 3 points compared with 2021 to stand at 57.4 out of 100.
Table 40: Evolution of Cameroon’s scores in the sub-indices of the “economic performance” factor
Score in 2021 Score in 2022 Variation
Productivity 2.4 2.0 -0.4
Political risk 17.7 17.1 -0.6
Oil intensity 92.4 91.6 -0.8
Rate of urbanisation 54.4 57.4 +3.0

4.9.2. Quality of risk
The “quality of risk” pillar measures the degree of exposure to natural hazards13, natural disasters, fires
and the risks inherent in cyber-attacks.
In 2022, Cameroon will record a score of 100 out of 100, compared with 90.4 in 2021 in the sub-dimension
“exposure to natural hazards”. Economic activities are located in areas that are resilient to natural hazards.
This is a competitive advantage to sell to potential investors.
As for the sub-dimension “quality of risks related to natural hazards 14”, its score fell by 6.9 points between
2021 and 2022. There is a need to enhance controls of standards compliance in the construction industry.
The score for the “quality of fire risk” sub-dimension has dropped by 7 points to 20 in 2022. In addition,
the sub-dimension “Risks inherent in cyber-attacks”, which provides information on vulnerability to a
cyber-attack combined with the country’s ability to respond to it, saw the biggest drop of 11 points
between 2021 and 2022.
13 T his indicator captures the percentage of a country’s land area devoted to economic activities that is exposed to at least one
natural hazard: earthquake, wind or flood..
14 I t informs on the degree to which building processes and standards are enforced and adds the negative effect that non-en-
forcement of these rules could have in the event of a natural hazard..
50
Table 41: Evolution of Cameroon’s scores in the sub-indices of the “risk quality” factor
Exposition to natural risks 90.4 100 +9.6
Quality of risks related to natural disasters 7.6 0.7 -6.9
Quality of risks related to fire 27 20.0 -7.0
Risks related to cyber attacks 55.8 44.8 -11.0
4.9.3. Supply chain
The “supply chain” factor has four indicators: control of corruption, quality of infrastructure, corporate
governance and supply chain visibility.
Cameroon achieves a score of 19.2 out of 100 in 2022, compared with 8.2 in 2021 for the sub-dimension
“control of corruption”, while the score for the sub-dimension “quality of infrastructure” falls from 19.2
out of 100 in 2021 to 12.2 in 2022. For the sub-dimension “corporate governance”, Cameroon’s score
remains stable at 35.2 between 2021 and 2022. At the same time, there was no change in the “supply
chain visibility 15” sub-dimension, with a score of 20.9.
Table 42: Evolution of Cameroon’s scores in the sub-indices of the “supply chain” factor
Corruption control 8.2 19.2 +11
Quality of infrastructure 19.2 11.2 -8
Corporate governance 35.2 35.2 0
Supply chain visibility 20.9 20.9 0
4.10. Container Port Performance Index

The Container Port Performance Index (CPPI) is (ranked 4th in the world) is the best performing
based on the total number of hours a ship spends port. It is followed by the ports of Saïd (10th in
in port, i.e. the time between its arrival in port the world), Damietta (194th in the world) and El
and its departure from the berth, once the cargo Dekheila (198th in the world), all in Egypt.
exchange has been completed. It is calculated
The port of Douala ranks 298th in the world
using two approaches, namely an administrative
and 30th in Africa (out of 45 ports ranked).
approach and a statistical approach on a sample
The port of Kribi is ranked 324th in the
of 370 ports.
world and 36th in Africa. The port of Kribi is
The best performing port in 2022 is Yangshan in ranked 324th in the world and 36th in Africa.
China, that raked 3rd in 2021. It is followed by the These rankings, it should be noted, have
ports of Salaah in Sultanate of Oman. The King improved since 2021. The ranks then were 42nd
Abdullah port of Saudi Arabia, which ranked first and 33rd respectively. This indicates an improved
in 2021, now ranks 19th. logistics efficiency in a context of competition
between different ports on the Atlantic coast and
In Africa, the port of Tangier Med in Morocco
in particular on the Gulf of Guinea.
15 Measures the ability to track and trace shipments in a country’s supply chain.
51
Table 43 : CPPI 2022 of Cameroon ports and comparison ports

Ports CPPI
King Abdullah 67.6
Salaah 91.9
Hamad 80.6
Yangshan 93.9
Tanger Med 84.3
Saïd 78.2
Damiette 1.2
El Dekheila 1.5
Douala -27.1
Kribi -55.1
Lagos -8.5
Abidjan -84.6
Pointe-Noire -46.0
Durban -123.9
Cape -164.2
Source: World Bank and S&P Global Market Intelligence 2022
4.11. Competitive Industry Performance Index

The United Nations Industrial Development Organisation (UNIDO) assesses the industrial competitiveness
of nations using the Competitive Industry Performance Index (CIP). This is a synthetic index that combines
three dimensions: i) the capacity to produce and export manufactured goods, ii) technological deepening
and modernisation, and iii) the level of global influence on manufacturing activity. A high score for one of
these dimensions indicates an interesting level of competitiveness. The scores range from 0 to 5 and the
evaluation covers 153 countries.
Table 44 : Cameroon’s and comparator countries’ scores in the industrial competitiveness index
2000 2010 2015 2021 2000 2010 2015 2021
Industrial competitiveness index Industrial competitiveness rank
Cameroon 0.008 0.011 0.009 0.007 114 109 116 122
Côte d’Ivoire 0.020 0.017 0.011 0.014 90 93 104 90
Nigeria 0.004 0.024 0.021 0.013 134 86 68 97
Ghana 0.007 0.013 0.007 0.008 118 104 121 113
Ethiopia 0.000 0.000 0.002 0.002 151 151 145 143
Rwanda 0.001 0.002 0.002 0.003 149 145 144 136
China 0.172 0.358 0.401 0.374 22 6 3 2
Morocco 0.039 0.044 0.043 0.035 63 69 64 66
Source: UNIDO, Competitive Industry Performance Index (2022)
In 2021, Cameroon recorded a score of 0.007 in the Industrial Competitiveness Index and was ranked
122nd out of 153 countries. This represents a one place drop of compared with 2020. Cameroon is far from
freeing itself from industrial dependence and this challenge does not date back to 2022. A comparison
with other countries shows that its industrial performance is better than that of Ethiopia (143rd) and
Rwanda (136th). On the other hand, the country is less competitive industrially than Côte d’Ivoire (90th)
and Nigeria (97th). It can also be seen that Cameroon’s score has not improved significantly between
2000 and 2021, tending to support the argument that the importance of industry in the economy has
stagnated.
52
Graph 30 : Production performance of the industrial sector in Cameroon
Source: From ONUDI data

Note: The size of the bubbles represents manufacturing value added per capita
Looking at the components of the industrial performance index, manufacturing value added (MVA) is on
an upward trend in Cameroon. Over the last two decades (2000-2021), it has increased by 58%. Over the
same period, the share of manufacturing value added in GDP has also risen, from 11.5% to 14.5%. The same
goes for the share of medium- and high-tech goods in manufacturing output, which rose by 5.8 percentage
points to 7.6%. However, since 2010 there has been no significant change in the share of manufacturing
value added in GDP, or in the weight of medium- and high-tech goods in manufacturing output.
The export capacity of manufactured goods has almost doubled between 2000 and 2021, rising from
18 to 37 US dollars per capita. Over the same period, the share of medium- and high-tech goods in
manufacturing exports rose by 5.6 points to 11.7%.
The share of manufacturing exports in total exports also rose, from 14.7% to 24.7%. This share, however,
fell by 8 percentage points between 2010 and 2021.
Graph 31 : Cameroon’s export performance in industrial goods
Source: From ONUDI data

Note: The size of the bubbles represents manufacturing exports per capita
In this chapter, the competitiveness of the Cameroonian economy has been shown to be growing at
a slower rate than the average for the rest of the world and the evolution of sub-dimension scores
remains unstable, reflecting the absence of a coherent and regular approach to correcting structural
deficiencies.
53
Chapter 5 Competitiveness enhancement

initiatives
This chapter reviews the major initiatives undertaken by the Government and the private sector in
2022 to boost the competitiveness of businesses and the economy. These include: (i) institutional
and regulatory measures, (ii) strengthening the production base, (iii) trade facilitation and support
for exports and (iv) infrastructure projects.
5.1. Institutional and regulatory measures

5.1.1. 2021-2023 Post-COVID recovery plan
In 2022, the adverse effects of the COVID-19 the business environment and productivity of
pandemic on the productive sector were vulnerable businesses by building their technical
exacerbated by the Russian-Ukrainian conflict. capacity to enable them be more competitive.
The implementation of the 2021-2023 post-COVID
recovery plan was stepped up with a budget of It has also signed a loan agreement for USD 18.9
CFAF 871.8 billion. million (about CFAF 12.3 billion) with the Arab Bank
for Development in Africa to finance the operation
In addition, a cooperation agreement between the
Government of Cameroon and the United Nations to support the Cameroonian private sector affected
Development Programme (UNDP) was signed by the COVID-19 pandemic. This operation aims
to support SMEs affected by Covid-19. This loan to ensure the recovery and development of target
agreement, worth 14.2 billion CFA francs, aims companies by improving the business environment,
to strengthen the resilience of very small, small boosting competitiveness and improving access to
and medium-sized enterprises to the negative innovative financing. It also ambitions fostering
consequences of the pandemic and other shocks, the development of start-ups and innovative
as well as to promote a rapid recovery of economic businesses, whose products are important levers
activity. The government intends to improve for business resilience and growth.
5.1.2. Legislative measures
The 2022 Finance Law enshrines the orientation of public policies to promote import-substitution. Excise
duties on imports of certain products have been increased in order to reduce and discourage imports of
products with high domestic production potential (meat and edible offal from cattle, goats, sheep and poultry,
cocoa butter, etc.). These excise duties have been set at 12.5% from 2022.
Pursuant to this same law, and to support the production and productivity of livestock farming activities,
agricultural inputs, equipment and materials for livestock farming, fishing and aquaculture have been
exempted from tax.
Some of these products, like Penja pepper and Oku honey, are also exempt from export taxes. From 2022, all
timber exporters will be subject to an exit duty rate of 50% of the FOB value of the species, compared with
35% previously.
5.1.3. Fiscal and customs measures

The following customs measures should be noted: (i) the integration of customs administrations’ information
systems in Central Africa, (ii) the automation of the system for monitoring facilities and suspensive and
economic regimes, (iii) the introduction of single payment of fees and charges for players in the logistics chain,
which will simplify procedures and reduce transit times.
With regard to the payment of taxes and duties, we note: (i) a reduction in the conditions for obtaining the
debt clearance certificate (ANR), (ii) the removal of the requirement to certify the certificate of location for
online registration, (iii) the exemption from the obligation to present a VAT exemption certificate for the
acquisition of goods and services expressly listed in the CGI and (iv) the replacement of the requirement for
prior approval by the DGI by a simple validation by the management departments for the reimbursement of
VAT credits to organisations recognised as being of public interest.
A mechanism has also been introduced for offsetting debts arising from final fines imposed by the State or
memorandums of understanding approved by the courts in tax and customs matters against the taxes, duties
and fees of the taxpayer concerned.
54
5.1.4. Business Environment

To improve the business climate, training and information campaigns on the dematerialised procedure for
issuing the CCIMA certificate of origin were carried out throughout the country in partnership with the
GUCE and the CCIMA, the capacities of the CCIMA’s Arbitration and Mediation Centre (CAM) have been
strengthened, the deployment of the single form for foreign trade operations has been finalised for the GUCE
and a mapping of Professional Organisations is underway. This should lead to the drafting of a white paper
on the private sector. Moreover, the investor’s guide and the import/export guide have been drawn up with a
view to promoting the Cameroonian economy.
With regard to standardisation and energy efficiency, the Agency for Standards and Quality (ANOR) has drawn
up thirty-one (31) preliminary drafts of Cameroonian standards in Energy Efficiency (EE).
5.1.5. Access to financing

The Government, to facilitate access to finance for SMEs, has made available CFAF 200 billion under the
State’s sovereign guarantee for the 2022 financial year.
In the same vein, the Government has signed an agreement with the European Investment Bank for the sum of
17.7 billion FCFA, to enable companies with a well-developed business plan to obtain loans at subsidised rates.
5.2. Strengthening the national production base

5.2.1. Measures to support production
The actions carried out in this respect have targeted flour, 4,395 tonnes of potato flour, 8,280 tonnes
the agricultural, livestock, fisheries and dairy of maize flour and 4,380 tonnes of millet/sorghum
sectors, as well as the financing of agriculture. flour.
In the agricultural sector, CAMVERT S.A., which With regard to livestock farming and the
benefits from tax exemptions under the private development of animal industries, the creation and
investment incentive scheme, has launched an operation of annexes to the National Veterinary
industrial oil palm planting campaign covering Laboratory (LANAVET) for the analysis of certain
an area of 35,000 hectares. The company aims livestock diseases will help to improve animal
to produce 180,000 tonnes of crude palm oil and health. Under this initiative, millions of small
18,000 tonnes of palm kernel oil annually. ruminants were vaccinated against plague in 2022.
Furthermore, to boost productivity in the dairy and
The Support Programme to Strengthen Agricultural pig sectors, PRODEL has acquired 494 pregnant
Production in Cameroon (PARPAC), financed by the Montbeliarde cows and 100 improved-breed
AfDB to the tune of CFAF 41.4 billion, supports the breeding pigs.
supply of agricultural inputs by subsidising 30% of
the purchase price and providing producers with In terms of agricultural financing, the CFAF 9 billion
improved seeds and essential agricultural tools. Fund for the Development of Agricultural Sectors
The main crops covered by this programme are has been made operational. This Fund should help
rice, maize, sorghum/millet, soya, potatoes, oil to improve the competitiveness and specialisation
palm and vegetables/tomatoes. of stakeholders (private operators) in agricultural
value chains through two windows: a “refinancing
A Rice Value Chain Development Programme has facility” window for Microfinance Establishments
also been launched with the financial support of (MFEs) with 8.6 billion FCFA, and a “guarantee”
the Islamic Development Bank (IDB), which has window which is a default risk-sharing mechanism
approved funding of FCFA 52 billion. This project designed to facilitate access to financing. However,
covers three regions (the North-West, the Far-North the Fund’s contribution seems marginal given the
and the West), and aims to: (i) the development of financial requirements for modernising agriculture.
5,000 ha of irrigated rice-growing perimeter; (ii) the The rice industry’s needs are estimated at more
strengthening of mechanisation; (iii) the acquisition than CFAF 350 billion.
of post-harvest processing equipment, such as
hulling lines; and (iv) the reconstruction of socio- The FODECC has launched a producer desk in the
economic infrastructure. cocoa and coffee sectors. Through a system of
electronic vouchers, producers can benefit from
In addition, a government-supported platform of a partial subsidy for the purchase of inputs or
local flour promoters in Cameroon has been set up. production equipment for coffee and cocoa. In May
Through this platform, Cameroon aims to produce 2022 in Melong, the first subsidies to cocoa and
nearly five million tonnes of quality flour by 2030. coffee producers began under this scheme.
By 2023, production is expected to reach 26,100
tonnes of cassava flour, 18,210 tonnes of plantain With regard to the densification of the industry,
55
we can note: (i) the resizing of CICAM’s industrial site of the Edéa Specialised Economic Zone (ZES),
unit (two sites instead of three) with a reduction with development work in progress; and (iv) the
in operating costs of almost 200 million per year; structuring of the West Arabica Coffee Producers’
(ii) the increase in ALUCAM’s production capacity Group initiated with five (5) producers: (UCCAO,
from 65,000 T/year to 75,000 T/year; (iii) the Moines de Koutaba, ANJ, Coo-Agro et Frères
installation of one (1) wood processing unit on the Desplaces), inter alia.
5.2.2. Actions undertaken in other production sectors

In order to intensify agricultural production using market three types of organic fertiliser (Rokoactiv,
sustainable fertilisers, MINADER has launched Rokolan and Rokohumin) on the one hand and to
the activities of the company “CHIMIE INDUSTRIE produce them locally using local inputs (poultry
AGROALIMENTAIRE”, whose objective is to feathers, horns and hooves) on the other.
encourage the substitution of chemical fertilisers,
considered harmful to human health and the At the same time, the implementation programme
environment, with organic fertilisers. The use of for the “Rice-Maize” Convention and the “Manioc”
chemical fertilisers in agricultural production is one Convention (PERIZ MAÏS-MANIOC); and the
of the causes of the difficulties encountered by Economic and Regional Development Programme
Cameroonian agricultural products in entering the for the Promotion of Medium and Large Enterprises
European Union market. The company ambitions, in the Rural Sector (Agropoles Programme) have
with the help of Slovakian partners, to import and continued.
5.2.3. Capacity building for SMEs

MIMPMEESA has help 2,500 young entrepreneurs MINEPIA, which aims to implement around twenty
gather in organisations and create modern medium-sized agricultural and livestock projects via
businesses. Under the TRANSFAGRI programme, partnerships with European investors. One of the
642 income-generating SMEs have benefited from main constraints to this initiative is access to land.
non-financial technical support. In 2022, 15140
operators of informal production units migrated to In addition, as part of the Cameroon Competitiveness
the formal sector. Support Facility (DACC), more than 250 businesses
have benefited from non-financial services; almost
In addition, 180 SMEs have benefited from profiling 94 of the 150 expected services were provided
by the BSTP and GFAC has set up an incubator to Cameroonian VSEs/SMEs (63%), and around
to support young girls who are “future leaders” ten of the 24 expected services were provided to
through training and access to markets. Intermediary Organisations (42%); Around ten
business plans (in line with the Government’s
A charter was initiated by the GICAM between SMEs priorities set out in NDS30) for a total short-term
and large companies, to make relations between credit request of 1.6 billion and a medium-term
the two parties more user-friendly, in particular by credit request of 3 billion were drawn up and
giving SMEs access to orders from large companies. submitted to the partner banks.
SMEs may thus enjoy: (i) cash advances and (ii)
reduced payment times. Around 100 SMEs and Lastly, two companies were selected to be
large companies have expressed interest in this supported as part of the implementation of the
initiative. National Champions policy. MINEPAT thus signed
the specifications in favour of these two companies
In addition, the same Group has launched the for the provision of CFAF 50 million.
“FARM” initiative with the support of MINADER and
5.3. Trade facilitation and export support policies

5.3.1. Trade facilitation
On the trade facilitation front, procedures continued to be simplified. The following can therefore be mentioned:
(i) the finalisation of the status of Authorised Economic Operator; (ii) the continued dematerialisation of
procedures; (iii) the automation of public auction operations and tax bases; (iv) the continued introduction of
the “green circuit” facility for operators with high revenue potential and those with a low risk of fraud; (v) the
implementation of the 100% scanning procedure for imports and exports, which will help to reduce intrusive
inspections and refine risk analysis; (vi) the strengthening of the partnership approach with other supply
chain structures; and (vii) the involvement of the private sector prior to the adoption of a new standard, a
decision or a regulatory act giving rise to a complaint, as part of the internalisation of the CEMAC Directives.
56
5.3.2. Support to export

The following export support measures have been implemented:
(i) the abolition of the bank guarantee for (v) improved data exchange with partners involved
Community exports of products subject to VAT in the foreign trade logistics chain and public
or manufactured locally, the implementation administrations;
of the global guarantee for transit and export
(vi) the acceleration of interconnection work
operations, the confraternal and non-bank
with the information systems of Chadian and
guarantee to cover exports of manufactured
Central African customs, the extension of the
products;
COSMOS application to containerised goods,
(ii)
the entry into force of the revised CEMAC the development of juxtaposed offices at the
Customs Code and Harmonised System (version borders (Ntam, Mfum Ekok; Kye-Ossi).
2022);
Specific attention has also been paid to granting
(iii) the continued implementation of tariff preferential customs conditions for production and
dismantling within the framework of the African export. For example, transit has been rationalised
Continental Free Trade Area (AfCFTA); with the implementation of the Single Transit
Document (TTU), the single bond and the border
(iv) the contractualisation of relations with players
transfer procedure and the implementation
in the public and private sectors with the
of economic schemes (inward and outward
conclusion of memorandums of understanding
processing, drawback, economic zones, etc.) has
with the Cameroon National Shippers’ Council
(CNCC), the Chamber of Commerce and Industry been promoted.
(CCIMA) and the Cameroon transport unions;
5.4. Densification of the infrastructure offer

Economic competitiveness largely depends on the and its Surroundings from the Sanaga River (PAEPYS)
availability of economic infrastructure. Constructing (95%); (ii) the Drinking Water Supply Project for 7
road infrastructure for instance reduces transport costs BADEA - OFID centres; (iii) the Rural Water Supply and
and is a key element in improving competitiveness. Sanitation Project in Cameroon (PAEA-MRU financed
MINTP has been implementing the systematic by the IDB).
stabilisation of all earth roads using innovative Thanks to all these projects, 549,112.8 m3 of water
products in 2022, to increase their durability. were made available in 2022, an increase of 1.7%
As for infrastructure construction, phase 1 of the compared with 2021. The water supply rate has risen
Yaoundé - Douala and Lolabé - Kribi motorways has from 50.8% in 2019 to 52.2% in 2022.
been fully completed, covering a total length of 98 In the transport infrastructure sector, particularly
km. The length of asphalted roads has also increased in the maritime sub-sector, work to extend the PAK
by 476.5 km. Construction of 1,391.2 km of new roads deep-sea port, which began in 2020, progressed in
is under way, while 2,710 m of engineering structures the financial year 2022. This project aims to meet
have been delivered and work is continuing on medium-term traffic projections by extending the
3,175.97 m. protective breakwater by around 675 metres and
In terms of infrastructure maintenance, 394.22 km of building a container terminal with a quay length of
asphalt roads have been rehabilitated and 1,000 km about 715 metres and -16 metres depth. Work has
of earth roads have been maintained. A total of 793 already begun on the construction of the protective
km of asphalt roads are still being maintained. breakwater. By 2022, the completion rate for this
project is around 40%.
In terms of energy infrastructure, the main
achievements are as follows: (i) the interconnection In the rail sub-sector, on 15 February 2022 the World
of the South Interconnected Grid and the East Bank’s Board of Directors approved US$313.8 million
Interconnected Grid and the commissioning of the in financing for the Douala-N’Djamena Regional Rail/
225 KV Nkongsamba-Bafoussam and Memve’ele- Road Corridor Performance Improvement Project
Ahala lines have boosted our national transit capacity (PCDN), whose rail component involves renewing
by more than 800 MW; (ii) the construction of 135 238 km of track between Douala and Yaoundé. The
water points (boreholes, wells and springs); (iii) the extension of the railway line between Cameroon
construction of 42 drinking water supply systems; and Chad has been selected as a priority CEMAC
and (iv) the rehabilitation of 65 water points and 09 integrating project to be submitted to the donors’
drinking water supply systems under decentralised round table in December 2023.
management. Significant progress has been made on the project to
Work also continued on the following projects: (i) the build a border bridge between Yagoua (Cameroon)
Drinking Water Supply Project for the City of Yaoundé and Bongor (Chad).
57
Conclusion and
recommendations
I
n general, the economy’s competitiveness For indicators to improve further, there will be
is assessed by its macroeconomic and need for:
commercial performance and by changes in i) Improving the efficiency of both public
production and transaction costs. and private investment projects;
In 2022, Cameroon recorded a 4.0% growth in
ii) Implementing the Master Plan for
GDP, a more sustained rate of growth than the
Industrialisation, by giving pride of place
average for other CEMAC or African countries.
to those aspects that maximise the
The current account deficit has fallen from 4.0%
benefits derived and hoped for from the
of GDP in 2021 to 2.8%.
trade agreements to which the country is
The overall price level has risen by 15.3% over a party (FTAA, EPA, ECCAS, etc.);
the past five years. Inflation stood at 6.3 for
2022. The global economic situation, marked by iii) encouraging and supporting start-
tighter financial conditions in most regions, the ups which produce innovative goods
war in Ukraine, the rise in the value of the US and services to improve agricultural
dollar and higher prices for agricultural inputs, productivity;
all contributed to this inflation. These disruptions iv) Completing the implementation of trade
may afford the Government with an opportunity facilitation measures, which advocate the
to substitute imported raw materials and boost simplification and digitisation of foreign
local production. trade procedures;
Overall competitiveness, as measured by the real v) Improving and accelerating the pace
effective exchange rate, has improved following of implementation of economic
the increase in export and import positions. infrastructure projects;
The primary deficit continued to drop as begun
vi) Improving the operation of economic
in 2020, to stand at 0.4% of GDP. The external
intelligence mechanisms to enable them
debt ratio accounts for 29.5% of GDP.
produce strategic information on markets
Investment is more efficient in Cameroon than (domestic and foreign) for economic
in Nigeria and Senegal, but relatively less than in operators;
several other African countries.
Cameroon is ranked 114th among the world’s vii) Improving the fluidity of the national
exporting countries, having been ranked 113th logistics ecosystem to further reduce
in 2021. The export effort has increased by an production costs;
annual average of 3.3 points over the past five viii) Completing Cameroon’s carbon footprint,
years, reaching 22.1% of GDP in 2022. The trade which should serve as a tool for mobilising
balance remains negative, even though the alternative financing;
deficit accounts for 4.2% of GDP. The penetration ix) Encouraging the use of alternative
rate of foreign products rose from 20.0% in economic financing instruments
2021 to 23.2%, reflecting the difficulty for local (factoring, venture capital, crowd
producers to gain a greater share of the domestic funding, leasing, etc.) and strengthening
market. the SME support system;
Liquefied natural gas, sawn timber, raw cotton,
x) Involving all necessary stakeholders to
cocoa paste and cocoa butter are the most
prepare a common manual of procedures
dynamic products. In contrast, coffee, natural
for company controls and inspections,
rubber and logs are losing ground. High-potential
backed up by the relevant legislative and
products include bananas, cocoa and cocoa
regulatory framework;
preparations, pineapples, household soaps,
palm oil and fertilisers. xi) Restructuring the education system by
With regard to positioning in international emphasising technical and vocational
competitiveness rankings, Cameroon has education in line with the industrialisation
improved its score in most of the World Economic objectives of NDS 30 and self-employment
Forum pillars, but at a slow pace. This is what considerations.
obtains from numerous initiatives and actions
carried out in 2022 to boost competitiveness
factors and and enhance attractiveness.
58
Bibliographic references
Centre Technique de l’Agro-alimentaire (2022), Rapport d’activités 2022
CNUCED (2023) : Rapport sur l’investissement dans le monde
Comité de Compétitivité (2022), Rapport sur la compétitivité de l’économie camerounaise en 2021
Comité National Economique et Financier (2023), TEG moyens 4e trimestre 2022 et seuils d’usure premier
semestre 2023
CONAC (2022), Rapport sur l›état de la lutte contre la corruption au Cameroun en 2021
Fonds Monétaire International (2023), Perspectives Economiques Régionales : Afrique Subsaharienne, Avril
Institut National de la Statistique (2023), Situation économique et financière des entreprises en 2022
Institut National de la Statistique (2023), Note annuelle d’analyse des prix à la production industrielle – Note
d’analyse 2022
Institut National de la Statistique (2023), Note sur l’évolution des prix à la consommation finale des ménages
au Cameroun en 2022
Institut National de la Statistique (2023), Comptes nationaux du quatrième trimestre 2022
MINADER (2023), Rapport annuel de performances 2022
MINEPIA (2023), Situation de la production et des importations du sous-secteur élevage, pêches et industries
animales
MINMIDT (2023), Rapport annuel de performances 2022
MINFI/DP (2022), Tableau de bord des finances publiques à fin décembre 2021
MINPMEESA (2023), Rapport annuel de performances 2022
MINTP (2023), Rapport annuel de performances 2022
Port Autonome de Douala (2023), Tableau du secteur maritime
République du Cameroun (2020), Stratégie Nationale de Développement 2020-2030, Yaoundé, Cameroun.
République du Cameroun (2021), Loi des Finances de la République du Cameroun 2022
World Bank, S&P Global (2023), The container port performance index 2022
World International Property Organization (2023), Global Innovation Index 2022
59
Websites
https://www.intracen.org/itc/analyse-marche/statistiques-du-commerce/
http://www.fao.org/faostat/fr/#data
https://fr.globalpetrolprices.com/gasoline_prices/
https://www.heritage.org/index/
https://www.fmglobal.fr/research-and-resources/tools-and-resources/resilience-index
https://blog.iese.edu/vcpeindex/
https://www.globalinnovationindex.org/Home
https://www.4icu.org/
https://mtn.cm/fr/
https://www.orange.cm/
https://www.imf.org/en/Data
http://www.hubrural.org/L-Association-cotonniere-africaine.html?lang=fr
https://databank.worldbank.org/source/world-development-indicators
https://ins-cameroun.cm/
60
Real Effective Exchange Rate

A country’s monetary competitiveness is studied in relation to each trading partner
or in relation to all its partners. While the real exchange rate measures bilateral
competitiveness, the real effective exchange rate assesses a country’s price
competitiveness in relation to all its trading partners. These rates compare, in the
same currency, the price of a representative basket of consumer or producer goods
from one country with that of another country or group of partners.
For this purpose, the real effective exchange rate is the relative domestic price
compared with the average of the prices of the partners. The real effective exchange
rate of a country helps establish to what extent variations in exchange rates, prices
Glossary
or costs in different trading partners influence the competitiveness of the country

concerned.
Given the role played by the real effective exchange in economic performance and
the methodologies that vary from one producer to another, the Competitiveness
Committee has a tool to monitor and analyse the evolution of Cameroon’s price
competitiveness.
Relative investment ratio
A country’s investment efforts are measured by the investment rate. This rate
indicates the gross fixed capital formation of all economic agents as a percentage
of GDP. To analyse a country’s investment efforts in a comparative way, the relative
investment ratio is used, which is the domestic investment rate in relation to that of
the main reference countries expressed as a percentage. Its evolution allows us to
assess the potential competitiveness of the country in question.
Foreign penetration rate
The foreign penetration rate16 is a measure of the degree of competition between
domestic and foreign producers on the domestic market. Une augmentation de ce
taux pourrait être le signe d’un déclin de la capacité des entreprises domestiques
(nationales) à concurrencer les fournisseurs étrangers. A decreasing penetration
rate may be the result of increased competitiveness of domestic suppliers (with
import substitution) or investment (or technology transfer) by foreign companies in
the domestic economy. Its successive fall reflects a favourable competitive position
acquired on the domestic market by local companies.
16 Ratio of imports to domestic demand (or absorption).
61
REPORT ON THE COMPETITIVENESS STATUS

OF CAMEROON’S ECONOMY IN 2022
62

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REPUBLIQUE DU CAMEROUN REPUBLIC OF CAMEROON

Paix – Travail – Patrie Peace – Work – Fatherland

REPORT ON THE COMPETITIVENESS STATUS

The President of the Competitiveness Committee

Chapter 1: Macroeconomic performance............................................................................... 12

Chapter 2: Commercial performance...................................................................................... 20

Chapter 3: Production costs and performance of the production system............................. 32

Chapter 4: Competitiveness through international rankings................................................. 41

Chapter 5: Competitiveness enhancement initiatives............................................................ 54

List of acronyms and abbreviations

To achieve a structural transformation of the economy, Cameroon shall

1.1. Economic growth

1.2. Current account balance and foreign exchange

Source: BEAC and MINFI data

1.3. Evolution of price competitiveness

Table 2 : Inflation rate per consumption function (%)

Health 0.2 0.2 0.4

Food price index Dairy price index Cereals price index

Source: From FAO data Source: From FAO data

1.4. Budget balance and external debt

1.4.1. Budget balance

Table 4: Trends in budget balances from 2020 to 2022 (in % of GDP)

1.4.2. External debt Graph 5 : Evolution of external debt (% GDP)

Source: MINFI/DGB, June 2023

1.5.2. Foreign Direct Investment (FDI)

Source: MINFI/DP (*Data

1.5.3. Investment efficiency

Ivory Coast Rwanda Senegal Ghana Ethiopia Nigeria South Africa

Source: Based on WEO data Source: Based on WEO data

Graph 8 : Comparative trends in ICOR

Source: Based on WEO data

certain strategic or high-potential products on domestic or international markets is also assessed.

Goods and services balance Export effort Propensity to import

Source: From NIS data

Source: Data from MINFI/DGD and NIS

Source: Data from MINFI/BP andData

2.1.2.4. Dynamics of trade in key products

Source: data from CCI/CNUCED

2.1.3. Trade in services

2.2. Evolution of market shares

2.2.1. Positioning of certain products on the global market

Table 7: Evolution of the market shares of few banana exporting countries

Table 8: Evolution of the market shares of some cotton-exporting countries

Table 9: Evolution of the market shares of some coffee exporting countries

Table 10: Comparative trends in Cameroon’s share of the cocoa market

2.2.2. Domestic market shares

Production (10 3 tonnes) 215.3 334.0 140.2 -- --

4 Established on the basis of raw data collected from rice producers.

• Crude palm oil

Imports (10 3 tonnes) 56.0 56.3 58.2 82.5 107.7

Exports (103 tonnes) 1.5 1.6 1.3 4.2 0.7

Internal market (10 3 tonnes) 467.5 474.7 506.7 528.3 407.0

Share of local producers (%) 88.3 88.5 88.8 85.2 73.7

Soyabean production Imports of soybean meal

Graph 15 : Trends in pharmaceutical products imports (in billion CFAF)

Source: Data from MINFI/DGD

3 Production costs and performance

Other industries 0,92

Food industries 0,86

Accommodation and catering 0,85

0,00 0,20 0,40 0,60 0,80 1,00 1,20

6.26.26.2 5.6 5.6