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The export to the European Union of the profits generated by Cameroon
The observation of the European Union (EU) is unambiguous: “Cameroon exports more goods to the EU than the EU to Cameroon”, at least for the year 2019. During the period under review, Cameroon exported goods worth F 1.4 trillion to the EU, up 20% over the past five years. The good performance of exports is notably due to cocoa beans (243 billion F), bananas (136 billion F), and wood (140 billion F).
Cameroon has also sold other products to its European partner, in particular aluminum (71 billion F), cocoa butter (35 billion F), coffee 24 billion F) and rubber (22 billion F). F). Unprocessed wood and veneer sheets contributed six billion and 16 billion F respectively to exports to the EU.
For a volume of 1000 billion F, the EU for its part, sold to Cameroon wheat, medicines, fish, cars, insecticides, malt, infant food, etc. During the same period. This performance is down 9% over the past five years.
An under-exploited potential
On both sides, the EU notes an under-exploited export potential. On the Cameroon side, the country could increase cocoa exports by 186 billion F or even 50 billion F, those of bananas. This is because of the competitiveness in these sectors and the success in exporting. The cocoa sector in Cameroon, with production turned more towards quality, could take advantage of this market by increasing production and obtaining a better price (1640 F price per kg for the current campaign).
For all other product candidates for export to the EU, quality (compliance with standards) is essential, not only to access this market, but also to strengthen the competitive advantage enjoyed by Cameroon. Indeed, the EU absorbs 47.7% of Cameroon’s exports.
In addition to exporting to Cameroon, the EU also produces locally thanks to many companies established in the territory. They invest mainly in construction, energy, transport or distribution.
While the Netherlands is the main destination for local products within the Union (33%), France is the top source of EU companies present in Cameroon.
(Source Cameroon Business Today N180 From Wednesday 04 to Tuesday 10 November 2020)