(3 Minutes Read)
Cameroon is experiencing a structural economic shift, with the services sector now at the forefront of growth, according to August 2025 data from the National Institute of Statistics (INS). The tertiary sector accounted for 55% of GDP, propelling overall economic growth to 3.5%. Key contributors include financial services, which have grown at an average annual rate of 6.5% since 2019, and telecommunications, up by 5.3%, both supported by a 3.5% rise in private consumption.
This move toward a service-oriented economy is complemented by positive developments in agriculture. Agricultural exports grew 9.5%, with cocoa exports exceeding 1 trillion CFA francs in 2024. Cotton exports also played a role in reducing the trade deficit dramatically—from 2.004 trillion CFA francs in 2023 to just 256 billion in 2024—boosting import coverage to nearly 85%, the highest in years.
Although manufacturing currently makes up just 12–15% of GDP, it shows promise. Through the National Development Strategy 2020–2030 (SND30), Cameroon aims to raise this figure to 24% by the end of the decade, focusing on processing local raw materials. Special economic zones in sectors like agribusiness and timber are drawing investment through tax incentives, despite lingering challenges in the business environment.
Read Also;
With projected growth of 4% in 2025 and broader economic diversification, Cameroon is on track for a stronger, more resilient, and inclusive economy, driven by rising domestic consumption, service sector expansion, and higher-value agricultural exports.