Cameroon’s Services Sector Fuels Economic Growth in 2025

Yaoundé, Cameroon – Cameroon’s economy is evolving, driven by a vibrant services sector. In August 2025, the National Institute of Statistics (INS) reported that this sector contributed 55% to the country’s overall economic growth, which stands at 3.5%.

Financial services have been a major contributor, with an impressive average growth rate of 6.5% since 2019. Telecommunications have also seen robust growth, increasing by 5.3%. These developments are supported by a 3.5% rise in private consumption across the nation.

Positive indicators are emerging in the primary sector as well. Agricultural exports soared by 9.5%, with cocoa exports exceeding 1 trillion CFA francs in 2024. Cotton has played a crucial role in shrinking the trade deficit, which fell from 2.004 trillion CFA francs in 2023 to just 256 billion CFA francs in 2024. Import coverage has also improved, reaching nearly 85%, a level not observed in several years.

Though the manufacturing sector still only constitutes 12-15% of GDP, its future prospects are looking brighter. The National Development Strategy 2020-2030 (SND30) aims to boost this sector’s GDP share to 24% by 2030 through local raw material processing.

Special economic zones, already active in agribusiness and timber, offer tax incentives that encourage private investment, despite a business environment that requires further enhancements. With an expected growth rate of 4% in 2025, Cameroon appears to be poised for a significant economic rebound.

By capitalizing on domestic consumption and the expanding services sector, alongside improved agricultural exports, Cameroon is navigating a path towards more inclusive development while strengthening its ability to withstand external shocks.