Trade Deficit Growth: Up From 8.5 Per Cent To 13.9 Per Cent

The country’s quarterly accounts published by the National Institute of Statistics (NIS) showed that compared to the third quarter in 2017 when trade deficit stood at 8.5 per cent, Cameroon’s trade deficit worsened reaching 13.9 per cent of Gross Domestic Product (GDP) in the third quarter of 2018. Between the two periods, the 13.4 per cent decline in exports added to the rise in imports by 13.9 per cent deteriorated the trade balance in volume. NIS indicated that exports fell, driven by a combined drop in the exportation of goods. Overall, exports gave -2.4 points to GDP growth over the period under review. Export by volume of crude oil fell by 19.4 per cent and that of non-oil items dropped 10.9 per cent. However, this downward trend in the exports by volume of goods is lessened by the exports of logs and processed wood as well as agricultural processing products especially cocoa paste and butter. 

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