Cameroon’s fuel exports was 54.1% of merchandise exports in 2023.

Neither way is good in itself. A higher share means export earnings depend more heavily on one commodity and its price. A lower share means a broader mix, though it can also follow a drop in oil sales, so neither direction is good in itself. The latest figure is 54.1% of merchandise exports in 2023, down from 62.1% a year earlier, a fall of 8 percentage points. Since 2014 the share has ranged from a low of 7.7% of merchandise exports in 2016 to a high of 62.1% of merchandise exports in 2022, which puts the latest reading in the upper part of its range.

Why it matters. With fuel at 54.1% of merchandise exports, a little over half of Cameroon's goods earnings from abroad depend on oil and gas markets. Changes in fuel prices or output therefore flow into the foreign currency available to pay for imports and into public revenue. Exporters of other goods and households that buy imported goods feel those swings through the exchange rate and the state budget.