(Business in Cameroon) – Cameroon’s trade deficit with China increased by 18.5% in 2023, according to the National Institute of Statistics data. The figure stood at CFA714.3 billion over the period, up from CFA602.6 billion in 2022.
Cameroon has been grappling with a persistent trade deficit with China for several years, and the gap continues to widen. The total trade between the two nations reached nearly CFA1,178.1 billion in 2023, marking a 24.1% increase compared to 2022. However, this trade growth hasn’t been enough to balance the deficit, which keeps growing due to faster increases in imports compared to exports.
China remains Cameroon’s top supplier, holding an 18.9% market share in 2023, outpacing India and France. The main imports from China include herbicides and germination inhibitors (4.9%), new tires for buses and trucks (3.1%), ceramic tiles (2.7%), polyethylene terephthalate (1.8%), as well as glass packaging and flat-rolled products of non-alloy iron/steel (1.6% each).
Despite the growing trade deficit, Cameroon’s export earnings to China rose by 33.9%, from CFA173.2 billion in 2022 to CFA231.9 billion in 2023, according to the INS. This rise is largely driven by exports of mining and forestry products, particularly crude oil (57.8%), liquefied natural gas (10.5%), and various types of wood (10%). China ranks as Cameroon’s fourth-largest export market, receiving 7.8% of Cameroonian exports. The Netherlands (23.2%), France (12.3%), and India (9.6%) are Cameroon’s other major export destinations.
