The Impact Of The Economy In Cameroon

Commodities account for 57% of the value of total exports, so that a downturn in world commodity prices can have a big impact on the economy. The government is pushing for increased exports

Different countries in Africa have different resources that helped European nations increase their wealth. By the 1854, exports used to be low as about 3 million of British pounds for exports but imports were a bit more higher. Despite having low exports, the exports have increased drastically by the 1900. In order to get these wealth, all these resources from these countries helped increase this exports. Such as rubber, ivory, and palm from the Congo Free State had a big impact. Resources had a huge impact in economy it became one of the reasons for Europeans to control parts of

The economy of the Ivory Coast functions primarily on agricultural exports, representing nearly a third of the gross domestic product. The primary exports of the nation are cocoa beans, coffee, cotton, palm oil, and bananas. The economy is currently severely threatened by the violent state of the nation, which discourages foreign traders thereby limiting exportation. An additional 20% of the GDP is comprised by industrial services, including food and beverage manufacturing, wood products, oil refining, automotive assembly, and textile production. The labor force accounts for the remainder of the economy, with over 60% of the population providing physical labor to support the large agricultural industries.

The government also has an imbalance of political power allowing dictators to step in and lead the country and control all of the power. Lately, there has been police crackdowns, mass detentions, tortures, death in activists against the government, and deaths of opposing parties. On the other hand, Cameroon is not as bad off as some other countries dealing with their own independence. The Cameroonian government was able to avoid debt, fed its entire population, and recharged their economy. They still have a long way to go to be successful but Cameroon is on the road to be a more successful country than right after their transition into

Fifth, the economy of Paraguay. Paraguay has a market economy which highly depends on agriculture products. The currency in called Paraguayan guarani also PYG. Three out of the many exports that they have are leather, soybeans, and cotton. Their three leading imports are vehicles, consumer goods, and tobacco. Over the past years the agriculture exports have increased especially with soybeans.

The capital of Republic of the Congo is Kinshasa. There are major cities like Kisangani, Bukavu, Goma, Likasi, and Uvira. It has land features like the Congo Basin and Cristal Mountains. It has a government of presidential-parliamentary system. The GDP of the country is $800. The people of this country trade copper, coal, silver, and gold. They have natural resources like silver, copper, and gold. They have a tourist attraction named Virunga National Park.

75% of the rest of the region is covered in tropical forests. These forests provided lumber as a major natural resources for a long time. Lumber brought Gabon revenue until people discovered minerals and other resources they felt were more valuable. Manganese is a much desired resource and Gabon is one of the world’s largest manufacturers it. Gold and diamond are other resources extracted. Many iron ore reserves can be found in the Northern parts of the region. Perhaps the most important natural resource in Gabon is Petroleum. A large chunk of Gabon’s income comes from petroleum. In the late 20th century the resources accounted for over 70% of the exports. Prices of the resources change frequently, but petroleum has consistently kept the country afloat. Gabon exports many resources to other African countries. However, exporting its goods to the U.S. and France is how most of the revenue is gained. Crude oil is mainly exported to the U.S. Some natural gas goes to the U.S. and France, but much of it helps generate electricity for the country. Water power is the major source of electricity though. The Gabonese raise cattle for beef and dairy. They also raise sheep, pigs, and goats. Fishing is involved in villages by the Atlantic Ocean and rivers. Much of food the Gabonese eat in the urban areas is

Cameroon is situated by the Gulf of Guinea on the west coast of Africa. With Nigeria located towards the west side Chad and the Central African Republic remain towards the east, whilst the People's Republic of Congo, Equatorial Guinea, and Gabon situate towards the south. These different populations of Cameroon

In every country of the world, exchange rate level is the paramount target of economic policy targeting. In other words, exchange rate policy should be geared towards the attainment of long-term equilibrium rate, so as to achieve certain macro-economic objectives e.g. balance of payments equilibrium, through proper management of the Nigerian exchange rate policy. The country started operating the floating exchange rate system in 1986 after the introduction of SAP. It was expected that the country experience development but the reverse was the case because the country suffered consistent hopeless development situation as her naira depreciates often against other foreign currencies, especially the dollars which was universally accepted as the global medium of exchange. Before the floating system was introduced, $1=NO.89 but after that in 1966 we have $1=N22.05 and even today we have $1=N150.7 .This is quite disheartening, regardless of the effort of the government of Nigeria through the activities of the regulatory body such as the establishment of second tier foreign exchange market (SFEM) in 1986 and interbank foreign exchange market (IFEM) in 1989 and currently the foreign exchange market (AFEM) in 1995.

Sierra Leonean’s economy has been increasing; however it will take many years to achieve the level of equilibrium between the demand of people’s expectations and needs, and supply from the government to fulfill all these needs. Even thou, Sierra Leone has great natural resources such as: diamonds, gold and bauxite, the country has been struggling with a legal mining of those resources due to a power conflict between the government and rebel’s forces as well as international influence. The dependence of Sierra Leone on more advanced countries, just like in any other example of underdeveloped countries, has been described as: unfair exploitation of human resources, human greed and high price to avoid starvation for Sierra Leonean nation. The relationship is based on uneven opportunities. The advanced countries are taking advantage on their exports of products such as: rice, potatoes, or even drinkable water to Sierra Leone in return for natural resources such as: diamonds that most of the times are being exploited illegally or against human rights. Because Sierra Leone doesn’t have money to pay back or provide products to be exported, the country depends on the foreign aid. One of the members of the Parliament said: “Strategically, trade is the engine of growth. If Kenya has tea, Ghana has coffee and Botswana has beef for trade, can Sierra Leone not export its cocoa and other agricultural products to China, the EU and even to the United States? Sierra Leone’s new vision

Continuing with GDP, the composition consists of 33.7% for household, 20.6% for government, 32.9% for investment in fixed capital, 8.2% for investment in inventories, 33.3% for exports of goods and services, and -28.7% for imports of goods and services. In the past, Algeria relied tremendously on agriculture and farming, how today the sectors are divided differently; 9.4% for agriculture, 62.6% for industry, and 28% for services. The main agriculture products are wheat, barley, oats, grapes, olives, citrus, fruits, sheep, and cattle. This sectors does not meet the needs of food for the population, so 45% of the food is imported. Algeria is also a producer of cork and sandalwood products, along with the fishing industry, which is flourishing. The fishing (sardines, bonito, smelt, and sprats) are usually completed by small family-owned boats, not commercial fishing trawlers. The main industries with a 2.5% growth are petroleum, natural gas, light industries, mining, electrical, petrochemical, and food processing. Minerals mined in Algeria are iron, zinc, copper, calamine, and mercury; the country has over 300 quarries. However, agriculture still makes up the third most of the labor force for occupations following government and trade. Algeria exports petroleum, natural gas, and petroleum products making up 97% of exports to Italy, United States, Spain, France,

Growth in the agricultural sector has been driven by increased production of major food crops such as maize, sorghum and cassava, but the sector’s performance remains below potential. In turn, the services and industrial sectors have shown strong growth. The nascent banking sector and expanding telecommunications sector are key drivers behind services growth, while construction, electricity generation, manufacturing and mining are salient sub-sectors in industrial activity. Looking ahead, the banking and telecommunication sectors will continue to support services growth, while increased electricity generation capacity will benefit the expansion of the manufacturing

Though the world now is a global village, every country has its own currency. In Ghana the currency used is the Ghanaian cedi. There are several Ghana cedi exchange rates but the GHS to USD rate is the most sought-after. The currency symbol and code for the cedi are GHC and GHS respectively. The faring of the exchange rate has a great influence on economic growth and businesses in the country. Over the previous couple of decades, various specialists and academicians have expressed that the exchange rate is essential not just in light of the fact that it encourages worldwide exchange, however it likewise impacts asset portion in different divisions of the economy. Aron, Elbadawi, and Kahn, (2002)

Humankinds receive so valuable economic and social benefits from forest and its products. Paper, wood products, and timber are in high demand in both developed and developing countries. The trade of forest goods reduces poverty and also enhances financial system and boost economy in many exporting countries worldwide through a number of ways including trading of forest products and services, increasing jobs related to forestry, generating higher income, and rising investment in forest sector. Also, it benefits to the importing countries by supplying production of energy and other consumptions. For example, In Canada, forestry generated $20.6 billion to economy in 1996. Besides, it created job employment related to forestry at 2.7 percent of total employment. It has been claimed that more than 13 million people were formally working in forest filed. Also there are people who rely on forest trade in the form of employment, forest products, and direct or indirect contributions to livelihoods and incomes between 1 billion to 1.5 billion.

The discussion of a single currency for West African Countries has been going on for over a decade now. The countries of West Africa are working towards achieving monetary and currency integration by introducing a common currency called “Ecoi” throughout the West African Monetary Zone (WAMZ) (“Common currency for West Africa”, 2017). Therefore, I will be discussing the disadvantages of the integration of currencies in West African Countries and explaining why the integration of currencies in West Africa is a bad thing.