Cameroon’s balance of payments deteriorated sharply in the third quarter of 2025, with the current account deficit rising to FCFA 639.2 billion, according to newly published data from the Direction Générale du Budget (DGB) of the Ministry of Finance.
The balance of payments records economic transactions between Cameroon and the rest of the world. The latest DGB note shows that the overall external position was strongly negative in Q3 2025, with an aggregate deficit of FCFA 509.1 billion. The government report states that this outcome was financed mainly through a reduction in foreign exchange reserves.
A breakdown of the current account reveals that the services deficit contributed FCFA 234.8 billion to the overall shortfall. This category includes transport, insurance, travel and other service-related payments, which worsened compared with earlier quarters. At the same time, the primary income account, which comprises wages, investment income and other factor payments, registered a deficit of FCFA 134.7 billion.
While the goods balance improved slightly on account of lower import expenditure, exports of goods also declined, reflecting what the DGB describes as “fragile competitiveness.” Secondary income flows, mainly remittances and other transfers, remained positive at FCFA 122.5 billion but were insufficient to offset net foreign currency outflows. This figure contrasts with FCFA163.6 billion in secondary income recorded in the second quarter of 2025.
On the financial account, a modest surplus was recorded, driven largely by foreign direct investment (FDI). However, this surplus was insufficient to offset the larger deficits elsewhere in the external accounts. As a result, the overall balance of payments remained deeply negative in the third quarter.
The DGB’s analysis underscores growing external pressures on Cameroon’s economy in 2025. The balance of payments results reflect continued deficits in services and primary income accounts, a fragile goods export performance, and reliance on foreign exchange reserves to cover external shortfalls.
Mercy Fosoh
