Page 33 - Atouts Economiques Cameroun-2019-GB
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                 Concerning the demand, final consumption as the main growth driver rose by 3.6% in 2016, after 5.2% in 2015. Private final consumption expenditure slows, in connection with the rise in some products, including starchy foods, oils and fats, dairy products, beverages and hotel and restaurant services. Public final consumption expenditure slows to 3.5%, in connection with the rationalization of public expenditure.
Investment recorded a growth rate of 7.5% after -0.3% in 2015, and contributed 1.9 percentage points to GDP growth. This improvement is reflec- ted both in the private and public components. After declining by 0.2% in 2015, private invest- ment grew by 6.4%, while public investment rose by 11.2% after -0.6% in 2015. Starting up the actual investment programmed under a three-year plan for the acceleration of growth (PLANUT) explains this evolution.
In terms of external demand, it had a reducing impact on the growth by 0.4 points in 2016. This was due to a smaller volume of exports of goods and services than imports.
Regarding prices, inflation remained under control with a rate of 0.9% against 2.7% in 2015. A few consumer items recorded price increases, including “restaurants and hotels” (+ 3.5%), “alcoholic beverages and tobacco” (+3%) and “education” (+2.6%). Conversely, the “communications” item fell by 2.2%.
In 2016, activity increased by 4.5% against 5.7% in 2015. The nominal GDP observed is 19 105 billion CFAF. Inflation stood at 0.9% in 2016 and 2.7% in 2015.
Foreign trade in 2016 took place in a context marked by: the drop in global demand, particu- larly in the emerging countries; lower commodity prices, especially oil prices; repeated devalua- tions of the Naira.
Trade deficit rose from 1,174.9 billion in 2015 to 1,135.9 billion, thus a decrease of 39 billion. Excluding oil, the deficit shrank by $ 162.9 bil- lion, from $ 1,680.3 billion in 2015 to $ 1,517.4 billion. The improvement in trade balance results from a smaller decline in exports relative to imports. The coverage rate decreased by 3.8 points to 63.3%.
Exports fell 18.4% in 2016 to $ 1,959.7 billion. Excluding oil, they decreased by 12.1% compa- red to 2015, due to lower sales of raw cocoa beans, logs, fuels and lubricants, raw aluminum and raw cotton. This is mitigated by increased sales of sawn wood, fresh bananas, cocoa paste, wood veneer and cocoa butter.
Crude oil accounts for 35.5% of total exports. It is followed mainly by raw cocoa beans (20.3%), sawn wood (8.7%), logs (4.6%) and raw cotton (4.5%).
In 2016, exports amounted to 3,095.5 billion, down 13.4% from 2015. This trend is explained by a decrease in purchases of hydrocarbons (- 31.2%), cereals (- 16.4%), motor vehicles and tractors (-11.1%). Higher purchases of electrical and mechanical machinery and equipment (+ 8%) offset this decline. Clinker imports are up 40.8% in volume and 29.4% in value, in line with activity in the country's cement plants.
In terms of geographical area, the European Union remains Cameroon's main trading partner with 39.2% of trade in value against 34.7% in 2015. Then comes respectively: East Asia with 18.5% of trade, South-East Asia (13%) and West Africa (11.8%). The weight of trade with other CEMAC countries is 3.3%.
Bilaterally, the Netherlands remains Cameroon's largest customer. India, formerly 2nd moves to 3rd place to the detriment of Italy. South Africa (8th) and Malaysia (9th) now are among the top ten. The United States marks their comeback at the 10th place. China remains the largest supplier in Cameroon with 20.4% of purchases. They are followed by France (11.3%), Nigeria (8.5%), Thailand (4.3%) and Togo (4.1%).
In the first half of 2017, trade balance deficit nar- rowed by $ 125.6 billion to stand at $ 342.2 billion. Excluding oil, the trade deficit widened by 24.3 billion to 719.9 billion, resulting from a 1.7% increase in imports combined with a 0.5% drop in exports.
The building sector’s vitality is essential for economic development

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