The Mineral Industry Of Other Central African Countries - Cameroon

Owing to an upsurge in export earnings. Cameroon made substantial economic Progress in 1978 and 1979. With a real growth estimated at 6%, the gross domestic product (GDP) for 1979 surpassed $5 billion.2 Crude petroleum production was providing a new potential in 1978 and 1979 for achieving national self-sufficiency. Among other benefits, crude petroleum exports were helping to offset the escalating costs of refined petroleum imports and to reduce the 14% to 17% annual rate of inflation. Over the 4 years prior to 1978, Cameroon's petroleum imports increased by 12.1% in volume annually, while the import cost increased by 24.5% annually to about $105 million. Total export earnings for 1978 were $805 million,3 to which crude petroleum contributed $25.3 million and crude aluminum product exports contributed $25.9 million. Petroleum exports had increased to about $240 million in 1979 and were in third place after coffee and cacao. Total imports for 1978 were valued at nearly $1 billion. The volume of petroleum imports decreased in 1979 to 552,000 tons, compared with 622,000 tons in 1978. The European Economic Community (EEC) countries purchased over 75% of total Cameroonian exports and provided most of the Nation's imports. The United States purchased $12.4 million in petroleum exports from Cameroon in 1978. Domestic consumption of aluminum metal from imported Guinean alumina continued. to grow; thus exports of this metal to France (valued at $2 million in 1978) and Japan