In the first quarter of 2024, Cameroon’s import volume fell by 9% compared to the same period in 2023. According to a report from the National Institute of Statistics (INS), this decline was driven by an 11.2% decrease in goods imports, while services imports saw a modest 1.6% increase.
INS attributes this drop to a slowdown in the country’s processing industries, which led to fewer purchases of raw materials and other inputs. “This reduction stems from lower imports of products from agricultural processing industries, other agro-industrial sectors, and other manufacturing industries,” the report highlighted.
On the other hand, some sectors experienced growth. The local paper industry and the machinery and electrical or mechanical equipment sectors showed signs of improvement, driven by stronger external demand.
