Cameroon keeps on developing its economy; after a sustained-growth between 1965 and 1985, the country has experienced the years of slow down before recovering growth in 1995
Cameroon has a very rich subsoil. Oil represents an important source in the country development, although the activity has only started in 1978. In the 80s, Cameroon became the third oil producing country in the Sub-Saharan region. Since then, the exports accounts for the equivalent production of agriculture and forests.
There are some processing industries for farm products: coffee plants, sugar refineries, shelling, spinning and weaving cotton factories, palm-oil works and latex production. The country also owns wood processing plants (plywood and veneer) and breweries, as well as metallurgic factories and steelworks.
The telecommunications network is modern and updated. Web access is available in the main cities of the country with a flourishing activity of cyber-services. Bank and insurance are constantly improving their services
The informal sector
The expression has been created by IMF economist to designate a category of workers in developing countries, who are registered neither in public services nor in private services nor in private structured enterprises. In Cameroon, they are approximately representing 70 % of the labour force with a 40 % contribution of the GDP (Gross Domestic Products).
An increasing urbanization
The recent population growth has led to a big migration towards the major urban centers. Yaoundé is the political capital meanwhile Douala concentrates the business activities around the port.