Cameroon is currently the U.S 128th largest goods trading partner with $413 million in total (two way) goods trade during 2018. Goods exports totaled $193 million; goods imports totaled $220 million. The U.S. goods trade deficit with Cameroon was $26 million in 2018.
According to the Department of Commerce, U.S. exports of goods to Cameroon supported an estimated 1 thousand jobs in 2015 (latest data available).
Exports
Cameroon was the United States’ 135th largest goods export market in 2018.
U.S. goods exports to Cameroon in 2018 were $193 million, up 21.6% ($34 million) from 2017 and up 54.5% from 2008.
The top export categories (2-digit HS) in 2018 were: machinery ($38 million), iron and steel products ($28 million), plastics ($18 million), railway vehicles/equipment ($16 million), and mineral fuels ($12 million).
U.S. total exports of agricultural products to Cameroon totaled $20 million in 2018. Leading domestic export categories include: prepared food ($4 million), coarse grains (ex. corn) ($2 million), pulses ($2 million), vegetable oils (ex. soybean) ($1 million), and rice ($1 million).
Imports
Cameroon was the United States’ 112th largest supplier of goods imports in 2018.
U.S. goods imports from Cameroon totaled $220 million in 2018, up 85.6% ($101 million) from 2017, but down 64.2% from 2008.
The top import categories (2-digit HS) in 2018 were: mineral fuels ($126 million), wood and wood products ($26 million), cocoa ($16 million), rubber ($15 million), and special other (returns) ($8 million).
U.S. total imports of agricultural products from Cameroon totaled $36 million in 2018. Leading categories include: cocoa paste & cocoa butter ($15 million), rubber & allied products ($15 million), processed fruit & vegetables ($2 million), tobacco ($1 million), and coffee, unroasted ($973 thousand).
Trade Balance
The U.S. trade balance with Cameroon shifted from a goods trade surplus of $41 million in 2017 to a goods trade deficit of $26 million in 2018.
Investment
U.S. foreign direct investment (FDI) in Cameroon (stock) was $14 million in 2018, a 55.6% increase from 2017. There is no information on the distribution of U.S. FDI in Cameroon.
Cameroon’s FDI in the United States (stock) was $8 million in 2017. There is no information on the distribution of Cameroon FDI in the U.S.
The African growth and opportunity act was a pieces of legislation approved by the US house Congress to help improve the economies of sub – Saharan Africa countries like Cameroon and also to strengthen the relationship of countries in this region with the united states.
Key AGOA Facts – Trade and Investment Statistics (Source: The USTR 2018)
Total two-way goods trade between the United States and sub-Saharan Africa increased 5.8%, from $36.9 billion in 2015 to $39 billion in 2017
Top US goods exports to sub-Saharan Africa: machinery ($2.3 billion), vehicles ($1.6 billion), aircraft ($1.5 billion), mineral fuels ($1.4 billion), and electrical machinery ($864 million)
Top US export markets in the region: South Africa ($5 billion), Nigeria ($2.2 billion), Ghana ($886 million), Ethiopia ($873 million), and Angola ($810 million)
Top US imports from sub-Saharan Africa: oil ($11.2 billion), precious metals ($4.1 billion), cocoa ($1.2 billion), vehicles ($1.2 billion), and iron and steel ($950 million)
Top sub-Saharan African suppliers to the United States were South Africa ($7.8 billion), Nigeria ($7.1 billion), Angola ($2.6 billion), Cote d’Ivoire ($1.2 billion), and Botswana ($772 million).
US investment in sub-Saharan Africa stood at $29 billion in 2016, the latest year available, down 23% compared to $37.5 billion in 2014. The three largest destinations for U.S. investment were Mauritius ($6.7 billion), South Africa ($5.1 billion) and Nigeria ($3.8 billion).
Sub-Saharan Africa foreign direct investment in the U.S. stood at $4.2 billion in 2016, up 164% compared to $1.6 billion in 2014.
Article Source: USTR
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