(Business in Cameroon) – Cameroon’s trade deficit with India worsened significantly in 2023, reaching CFA291.4 billion. This marks a sharp increase of CFA254 billion, compared to the CFA37 billion recorded the previous year, according to data reported by the national stats agency (INS).
The report highlights that Cameroon’s export earnings from India dropped by 41.9%, falling from CFA493 billion in 2022 to CFA286 billion in 2023. Despite this decline, India remained Cameroon’s third-largest trading partner in 2023, holding 9.6% of the market share. The bulk of Cameroon’s earnings from trade with India came from exporting mining products, which accounted for 98.3% of total exports. Notably, liquefied natural gas made up 49.9% of these exports, while crude oil contributed 48.4%.
On the import side, India was Cameroon’s second-largest supplier in 2023, capturing 11.6% of the market, just behind China and ahead of France. The main products imported from India included diesel (33.1%), semi-milled or milled rice (18.6%), aviation fuel (9.3%), medicines (6.1%), and frozen fish (2.8%).
