Cameroon generated CFA1,705.4 billion in export revenues in the first half of 2025. This represents an increase of CFA215.2 billion, or 14.44% year on year, compared with CFA1,490.2 billion recorded over the same period in 2024. The growth was driven mainly by agri-exports, according to the latest economic outlook note from the Ministry of Finance.
The report attributes most of the increase to higher sales of cocoa and cocoa products, which rose by CFA377.2 billion. Exports of plantain bananas increased by CFA16.8 billion, while coffee exports rose by CFA4.7 billion. This positive trend was partly offset by declines in several other export categories, particularly in energy and raw materials.
Exports of crude oil fell by CFA154.6 billion, while liquefied natural gas exports declined by CFA65.4 billion. The report also points to lower revenues from raw cotton, down CFA19.1 billion, sawn timber, down CFA13.6 billion, and logs, down CFA5.3 billion. Taken together, these declines reduced the overall impact of gains recorded in cash crops.
Cocoa becomes the top export product
Over the period, cocoa emerged as Cameroon’s leading export product. It accounted for 42.94% of total export revenues, nearly double the share of crude oil, which stood at 21.28%. This marks a notable shift from previous years, when oil played a more dominant role in exports.
The change is explained first by the sharp rise in cocoa prices, which increased by 147.7% in 2024. The surge followed a contraction in global supply linked to adverse weather conditions in major producing countries such as Côte d’Ivoire and Ghana. At the same time, Cameroon’s crude oil exports fell by 11.0% in 2024, reflecting lower production levels and weaker prices.
This shift reduces Cameroon’s historical dependence on hydrocarbons and highlights the potential of agriculture, particularly cocoa, as a source of export revenue and rural income. However, the outlook remains sensitive to price volatility. A global production surplus could trigger a sharp fall in prices, despite government forecasts ranging between CFA3,200 and CFA5,400 per kilogram for the 2025–2026 season. Cameroonian producers, who were among the best paid globally, reached a peak price of CFA6,300 per kilogram during the 2023–2024 campaign.
Frédéric Nonos
