(Business in Cameroon) – Cameroon’s exports fell by nearly 2% in the first quarter of 2024, according to a report by the National Institute of Statistics (INS). The INS noted that this decline mainly stems from a 3.7% drop in the export of goods, overshadowing a 3% increase in service exports.
The drop in goods exports is attributed to poor performance in several sub-sectors, including logs, sawn timber, and various manufactured goods, as well as processed agricultural products. However, exports of crude oil and products from industrial agriculture showed strength.
The INS emphasized that the overall decline in exports at the end of March 2024 could have been even more significant without the contributions from oil and natural gas sales on the international market. When excluding crude oil and natural gas, the volume of goods exports experienced a more substantial decline of 7.8% during the quarter.
