The Mineral Industry Of Other Central African Countries

Crude petroleum, the only commercially exploited mineral resource in Cameroon, continued to dominate developments in the mineral industry sector. International mining concerns have expressed interest in developing Cameroon's bauxite and iron and steel potentials. Domestically, the mineral industry focused on production of fertilisers for agricultural development, infrastructure construction, and hydrocarbon development, through the nearly self-sufficient production of fertilizer materials, cement, and crude oil. The mineral sector contributed 5.6% to the estimated 1981 gross domestic product (GDP) of $6.5 billion.2 Petroleum exports accounted for approximately 4.5% of the 1981 GDP and exceeded coffee and cocoa exports for the second consecutive year. The trade gap widened during the fiscal year ending on July 80, 1981, owing to a 21% increase in exports and a 25% increase in imports. Offsetting these balance-of-payments difficulties, typical of developing countries' early economic stages, were increases in foreign exchange reserves to $71 trillion by May 1983.