(LVDE) – In 2024, Cameroon’s exports recorded a 6.9% increase, mainly driven by soaring prices of cocoa, rubber, and coffee, according to the National Institute of Statistics (INS).
Cameroonian exports thus experienced positive momentum with a 6.9% rise, as highlighted in the latest report published by the INS. This upswing, largely attributed to agricultural products, was particularly marked by the exceptional performance of cocoa, coffee, and rubber, whose prices surged throughout the year.
Cocoa stood out as the flagship product, posting a spectacular increase of 123.4% in 2024, after a 37.1% rise the previous year. This sharp price surge reflects strong demand on the international market, from which Cameroonian producers are reaping considerable benefits. Coffee, though less spectacular, also showed signs of dynamism. Robusta prices climbed by 68% in 2024, after an increase of only 15% in 2023. Meanwhile, arabica recorded a 23.8% rise, reversing a previous downward trend of 19.4%.
Rubber also saw significant improvement, shifting from a 10% drop in 2023 to a 26.8% increase in 2024. These developments highlight a rapidly evolving market that is creating new opportunities for Cameroonian producers.
However, not all products benefited from this upward trend. Cotton, for instance, experienced a price decline of 8.8%, after a 26.9% drop the previous year. Similarly, bananas recorded a slight 2.2% decrease, contrasting with a 15.5% increase in 2023. The oil sector was also affected, with continued declines in hydrocarbon prices. Crude oil fell by 2.3%, after a 17.2% slump the previous year, while natural gas suffered a sharp drop of 16.4%, following a 67.5% plunge.
Data on sawn timber and logs revealed a slightly positive trend, with sawn timber prices rising by 2.8%, compared with a 0.5% increase the previous year, while log prices remained stable.
The analysis of price trends underscores the importance of agricultural products to Cameroon’s economy and highlights the need for producers to adapt to fluctuations in the global market. The rise in cocoa, coffee, and rubber prices could also encourage investors to pay closer attention to these strategic sectors.
Export performance in 2024 illustrates the direct impact of international markets on the local economy. As Cameroon continues to explore its agricultural potential, it is crucial to design strategies that support producers and ensure the sustainability of this growth. Public policies will therefore need to adapt to foster this expansion and improve farmers’ living conditions, in order to fully capitalize on opportunities offered by the global market.
Esther Grace
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