External trade: Cameroon Imports Surge By 12 Per cent

Cameroon’s import have witnessed a 12 per cent increase in the first quarter of 2018 compared to the same period last year, the National Institute of Statistics (NIS) indicated. The figure is a combination of the 11 per cent increase in the imports of goods and 12.4 per cent growth in services imports. According to NIS, the rise in goods imports is as a result of higher purchases of chemicals, crude oil and processed agricultural products. Meanwhile, the country witnessed a decline of 3.8 per cent in exports due to a decrease by 3.9 per cent in goods exports and a 3.6 per cent drop in services exports. Exports of goods excluding crude oil are, however, up 1.6 per cent, mainly driven by increases in exports of sawn timber, fuel and lubricants and soap. Overall, exports of goods and services dropped GDP growth by 0.8 points in the first quarter of 2018.

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