climate for business enterprise. The development of the oil sector led to rapid economic growth between 1970 and 1985. Growth came to an abrupt halt in 1986, precipitated by steep declines in the prices of major exports: coffee, cocoa, and petroleum. Export earnings were cut by almost one-third, and inefficiencies in fiscal management were exposed. In 1990–93, with support from the IMF and World Bank, the government began to introduce reforms designed to spur business investment, increase efficiency in agriculture, and recapitalize the nation's banks. Political instability, following suspect elections in 1992, brought IMF/WB structural adjustment to a halt; currently Cameroon receives only minimal assistance from those Bretton Woods institutions. Although the 50% devaluation of the currency of 12 January 1994 improved the potential for export growth, mismanagement remains the main barrier to economic improvement. The devaluation led to a spurt in inflation, to 48% in 1994, but inflation moderated in 1995. Progress toward privatization of remaining state industry remains slow.
GDP: purchasing power parity - $16.5 billion (1995 est.)
GDP real growth rate: 1.8% (1995 est.)
GDP per capita: $1,200 (1995 est.)
GDP composition by sector: agriculture: 29% industry: 24% services: 47% (1994 est.)
Inflation rate (consumer prices): 48% (1994)
Labor force: NA
by occupation: agriculture 74.4%, industry and transport 11.4%,
other services 14.2% (1983)
Unemployment rate: NA%
Budget:
revenues: $1.6 billion
expenditures: $2.3 billion, including capital expenditures of $226
million (FY92/93 est.)
Industries: petroleum production and refining, food processing,
light consumer goods, textiles, lumber
Industrial production growth rate: NA%
Electricity: capacity: 630,000 kW production: 2.7 billion kWh consumption per capita: 196 kWh (1993)
Agriculture: coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
Exports: $1.2 billion (f.o.b., 1994) commodities: crude oil and petroleum products, lumber, aluminum, cocoa beans, coffee, cotton partners: EU (particularly France) about 50%, African countries, US
Imports: $810 million (f.o.b., 1994) commodities: machines and electrical equipment, food, consumer goods, transport equipment, petroleum products partners: EU (France 38%, Germany), African countries, Japan 5%, US 5%
External debt: $6.6 billion (1993)
Economic aid:
recipient: ODA, $449 million (1993)
Currency: 1 Communaute Financiere Africaine franc (CFAF) = 100
centimes
Exchange rates: CFA francs (CFAF) per US$1 - 500.56 (January
1996), 499.15 (1995), 555.20 (1994), 283.16 (1993), 264.69 (1992),
282.11 (1991)
note: beginning 12 January 1994, the CFA franc was devalued to CFAF
100 per French franc from CFAF 50 at which it had been fixed since
1948
Fiscal year: 1 July - 30 June
Transportation———————
Railways:
total: 1,104 km (1995 est.)
narrow gauge: 1,104 km 1.000-m gauge
Highways: total: 64,626 km paved: 2,666 km unpaved: 61,960 km (1987 est.)
Waterways: 2,090 km; of decreasing importance
Ports: Bonaberi, Douala, Garoua, Kribi, Tiko
Merchant marine:
total: 2 cargo ships (1,000 GRT or over) totaling 24,122 GRT/33,509
DWT (1995 est.)
Airports:
total: 45
with paved runways over 3 047 m: 2
with paved runways 2 438 to 3 047 m: 4
with paved runways 1 524 to 2 437 m: 3
with paved runways 914 to 1 523 m: 1
with paved runways under 914 m: 13
with unpaved runways 1 524 to 2 437 m: 7
with unpaved runways 914 to 1 523 m: 15 (1995 est.)
Communications———————
Telephones: 36,737 (1991 est.)
Telephone system: available only to business and government domestic: cable, microwave radio relay, and tropospheric scatter international: satellite earth stations - 2 Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 11, FM 11, shortwave 0
Radios: 2 million (1993 est.)
Television broadcast stations: 1 (1995)
Televisions: NA
Defense———
Branches: Army, Navy (includes Naval Infantry), Air Force,
National Gendarmerie, Presidential Guard
Manpower availability: males age 15–49: 3,112,339 males fit for military service: 1,572,150 males reach military age (18) annually: 151,300 (1996 est.)
Defense expenditures: exchange rate conversion - $102 million, NA% of GDP (FY93/94)
======================================================================
@Canada———
Map—
Location: 60 00 N, 95 00 W—Northern North America, bordering the North Atlantic Ocean and North Pacific Ocean, north of the conterminous US
Flag——
Description: three vertical bands of red (hoist side), white (double width, square), and red with a red maple leaf centered in the white band
Geography————
Location: Northern North America, bordering the North Atlantic
Ocean and North Pacific Ocean, north of the conterminous US
Geographic coordinates: 60 00 N, 95 00 W
