Cameroon’s exports to Nigeria fell sharply from FCFA 52.8 billion in 2015 to FCFA 25.1 billion in 2016, according to figures released Monday by the Finance ministry.
This decline in Cameroon’s exports, estimated at more than 52% in relative terms, is largely explained by the security situation in the region namely, the criminal activities of the Nigeria-based terrorist sect Boko Haram, including attacks in Cameroon, Niger, Nigeria and Chad that have seriously disrupted the economies of these countries.
During the same period, imports from Nigeria remained fairly high, at FCFA 433.2 billion in 2016 against FCFA 489 billion in 2015.
Although the volume of exchange trade between the two countries has decreased, Nigeria sells more products to its neighbour Cameroon. In 2016, Nigeria remained the second supplier of products to Cameroon, behind China and ahead of France.
According to the Finance ministry, the reduction in Boko Haram’s military capability is expected to enable both countries to increase the volume of their trade, following the reopening of all land borders late last year.
apanews.net
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