Home Central Africa Cameroon: 2.4 percent GDP growth in 2017 but low Agriculture performance

Cameroon: 2.4 percent GDP growth in 2017 but low Agriculture performance

Central Africa CFA Picture: CMT.CM

Cameroon’s industrial agriculture and exports growth performance -7.3% during Q4 2017

2017 Stastics shows Cameroon achieved a gross domestic product (GDP) growth estimated at 2.4 percent in 2017 against 2016, according to the results of a study published by the National Institute of Statistics (NIS) on Tuesday.

Cameroon’s GDP rose during Q4, 2017. According to the report published by the national institute for statistics, compared to the GDP level during the same period in 2016, it has risen by 2.4%. This increase was spurred by the primary and tertiary sectors which remained the basis of the growth.

During the period under review, the primary sector grew by 1.2% on a year-on-year basis due namely to the growth in the food-crop sector which contributed 0.3 points to the quarterly GDP.

“This performance is mainly due to a strengthening of the planters’ management as well as the ongoing measures to modernize the machines for production and arable sectors’ management”, the Institute informs.
Though the breeding, hunting and fishing sectors (3.3%), as well as the fish farming and forestry sectors (2.6%) have lost some points, they also contributed significantly to growth in the primary sector. Let’s note however that the industrial agriculture and exports registered a negative performance (-7.3%).

As for the tertiary sector, all its branches contributed to the growth. Its contribution was 1.7% points. The secondary and primary sector contributed 0.3% and 0.2% respectively. The retail and repair branch contributed 0.6 points, the financial services (2.5%) (due to an increase in the net banking products). As for the ICT and telecommunication branches (4.1%), the growth was due to the strengthening of the internet Access providing services and the introduction of high added value services such as mobile money services as well as online purchase and payments.

In the same wake, the public administration’s non-market services registered a positive dynamic.