Cameroon’s trade deficit went down from CFA344.3 billion (5.9% of GDP) in Q3 2021 to CFA307 billion (5.4% of GDP) in Q3 2022, the national stats agency revealed in a recent note on the country’s economy.

According to the document, this slight reduction is the result of an increase of 1.2% in the volume of exports coupled with a decline of 0.5% in that of imports. INS said the trade deficit would have been smaller if demand for key exports, including logs, crude oil and natural gas, sawn lumber, and agricultural exports, had not been lower during the period.

As for imports, "the overall decrease was mainly driven by a lower import of services of 4.9%, which offset the slight increase in the import of goods (+0.4%),” INS said.

Source: Business in Cameroon