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Economy of Cameroon vs Ethiopia compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $53.3B compared to $150B for Ethiopia, ranking 91/197 and 60/197 by economy size, respectively.

Cameroon has $22.8B in government debt (42.8% of GDP), compared to $48.9B (32.7% of GDP) in Ethiopia.

Cameroon vs Ethiopia GDP by year

Cameroon
Ethiopia
1x
Year GDP, current $
Cameroon Ethiopia
2024 $53,296,694,320 $149,740,297,953
2023 $48,814,501,547 $135,874,093,202
2022 $44,347,206,073 $123,140,304,666
2021 $45,011,937,347 $109,070,960,372
2020 $40,773,241,177 $98,676,811,061
2019 $39,667,757,528 $91,834,517,113
2018 $39,955,552,190 $83,337,901,072
2017 $36,098,547,033 $76,366,081,767
2016 $33,814,337,044 $68,475,871,210
2015 $32,210,233,020 $62,103,418,182
2014 $36,386,544,706 $55,612,228,234
2013 $33,728,621,180 $47,648,276,605
2012 $30,155,062,329 $43,310,721,414
2011 $30,630,910,495 $31,952,763,089
2010 $27,507,501,821 $29,933,790,334
2009 $27,932,970,317 $32,437,389,116
2008 $27,715,142,033 $27,066,912,635
2007 $23,928,250,433 $19,707,616,773
2006 $20,910,512,975 $15,280,861,835
2005 $19,509,852,207 $12,401,139,454
2004 $18,826,214,136 $10,131,187,261
2003 $15,970,315,035 $8,623,691,300
2002 $12,417,251,350 $7,850,809,498
2001 $10,953,485,349 $8,231,326,016
2000 $10,566,579,295 $8,242,349,618
1999 $11,565,826,465 $7,892,973,532
1998 $11,298,144,990 $8,013,274,132
1997 $10,789,458,433 $8,803,539,988
1996 $11,093,538,846 $8,761,215,548
1995 $10,864,772,471 $7,855,205,207
1994 $8,902,446,252 $7,100,806,754
1993 $16,181,814,713 $9,051,043,870
1992 $12,071,775,335 $10,754,799,037
1991 $11,840,192,296 $13,799,799,324
1990 $12,314,482,628 $12,478,943,895
1989 $11,012,566,195 $11,762,932,007
1988 $12,236,057,362 $11,181,119,718
1987 $13,049,659,981 $10,790,001,558
1986 $11,857,056,199 $10,094,328,898
1985 $8,544,810,498 $9,717,392,687
1984 $7,311,938,026 $8,298,309,581
1983 $6,870,200,010 $8,781,664,427
1982 $6,611,255,964 $7,899,988,841
1981 $6,610,938,617 $7,507,663,567
1980 $6,674,569,047 $7,012,585,454
1979 $5,919,002,983 $6,586,048,398
1978 $4,662,852,583 $6,014,961,435
1977 $3,394,664,024 $5,651,840,585
1976 $2,898,090,002 $4,943,806,093
1975 $2,857,037,371 $4,577,047,854
1974 $2,157,415,533 $4,577,209,966
1973 $1,901,393,361 $4,070,570,550
1972 $1,498,251,890 $3,520,252,938
1971 $1,236,941,394 $3,224,280,835
1970 $1,151,216,993 $3,045,354,455
1969 $1,100,551,489 $2,768,987,372
1968 $1,046,191,218 $2,619,948,865
1967 $936,175,260 $2,461,762,003
1966 $851,112,535 $2,324,466,416
1965 $814,083,266 $2,159,998,591
1964 $776,650,177 $1,984,129,186
1963 $718,320,845 $1,825,058,828
1962 $694,247,864 $1,747,566,307
1961 $652,777,608 $1,680,859,514
1960 $614,206,068 $1,610,511,694

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cameroon/ethiopia | CC BY

GDP per capita in Cameroon vs Ethiopia by year

Cameroon
GDP per capita

GDP per capita, PPP
Ethiopia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cameroon Ethiopia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,830 $5,589 $1,134 $3,288
2023 $1,720 $5,411 $1,056 $3,061
2022 $1,605 $5,189 $982 $2,845
2021 $1,672 $4,794 $893 $2,588
2020 $1,556 $4,365 $830 $2,407
2019 $1,555 $4,241 $793 $2,242
2018 $1,611 $4,011 $740 $2,095
2017 $1,496 $3,767 $696 $2,005
2016 $1,442 $3,627 $642 $1,858
2015 $1,415 $3,498 $598 $1,633
2014 $1,649 $3,422 $550 $1,485
2013 $1,576 $3,239 $484 $1,253
2012 $1,449 $3,060 $452 $1,179
2011 $1,514 $2,989 $343 $1,098
2010 $1,399 $2,914 $331 $996
2009 $1,461 $2,879 $369 $899
2008 $1,492 $2,870 $316 $845
2007 $1,326 $2,818 $237.1 $770
2006 $1,191 $2,704 $189.3 $693
2005 $1,143 $2,598 $158.2 $625
2004 $1,133 $2,533 $133.2 $558
2003 $988 $2,368 $116.8 $493
2002 $790 $2,263 $109.6 $509
2001 $715 $2,191 $118.5 $509
2000 $709 $2,108 $122.3 $474
1999 $796 $2,039 $120.7 $450
1998 $799 $1,975 $126.5 $436
1997 $783 $1,915 $143.4 $461
1996 $827 $1,850 $147.3 $453
1995 $832 $1,790 $136.5 $409
1994 $701 $1,752 $127.7 $391
1993 $1,310 $1,731 $168.5 $384
1992 $1,005 $1,890 $207.4 $343
1991 $1,015 $1,963 $277.6 $383
1990 $1,087 $2,032 $262.1 $417
1989 $1,001 - $256.4 -
1988 $1,145 - $253.2 -
1987 $1,258 - $254.1 -
1986 $1,179 - $246 -
1985 $875 - $243.9 -
1984 $772 - $214.2 -
1983 $746 - $232.7 -
1982 $732 - $215.3 -
1981 $750 - $212.7 -
1980 $784 - $203.7 -
1979 $718 - $192.4 -
1978 $582 - $178.3 -
1977 $435 - $170.4 -
1976 $381 - $152 -
1975 $386 - $144.3 -
1974 $299.9 - $147.9 -
1973 $271.8 - $134.9 -
1972 $220.1 - $119.8 -
1971 $186.7 - $112.7 -
1970 $178.5 - $109.4 -
1969 $175.2 - $102.3 -
1968 $170.8 - $99.5 -
1967 $156.6 - $96.1 -
1966 $145.8 - $93.2 -
1965 $142.7 - $88.9 -
1964 $139.2 - $83.8 -
1963 $131.6 - $79.2 -
1962 $130 - $77.8 -
1961 $124.6 - $76.7 -
1960 $119.1 - $75.3 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cameroon/ethiopia | CC BY

Cameroon's GDP per capita is $1,830, ranking 158/197, compared to $1,134 in Ethiopia, ranking 171/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 156th at $5,589, while Ethiopia ranks 175th at $3,288.

Economic indicators

Cameroon Ethiopia
Gross domestic product
$53.3B
2024
$150B
2024
GDP rank
91/197
2024
60/197
2024
GDP growth
3.52%
2023-2024
7.61%
2023-2024
GDP per capita
$1,830
2024
$1,134
2024
GDP per capita rank
158/197
2024
171/197
2024
GDP per capita, PPP
$5,589
2024
$3,288
2024
GDP per capita PPP rank
156/197
2024
175/197
2024
Government debt
$22.8B
2024
$48.9B
2024
Debt-to-GDP ratio
42.8%
2024
32.7%
2024
Government debt per person
$784
2024
$370
2024
Government debt per person rank
152/185
2024
172/185
2024
Average annual personal income after taxes
$1,578
2026
$1,946
2026
Income share by richest 10%
31.1%
2021
24.8%
2021
Income share by poorest 10%
2.1%
2021
3.5%
2021
Government expenditure, % of GDP
16.7%
2024
9.54%
2024
Consumer prices inflation
4.53%
2023-2024
21%
2023-2024
Unemployment rate
3.28%
2021
3.94%
2021
Population
30864115
139917664

Spending and national debt comparison by year

Cameroon
Spending

Debt
Ethiopia
Spending

Debt
1x
Year % of GDP
Cameroon Ethiopia
Government spending Government debt Government spending Government debt
2024 16.7% 42.8% 9.54% 32.7%
2023 17.1% 43.1% 10.8% 38.7%
2022 17.1% 45.6% 12.7% 46.9%
2021 17.1% 47.2% 13.8% 53.8%
2020 16.6% 44.9% 14.5% 53.7%
2019 18.7% 41.6% 15.4% 54.7%
2018 18% 38.3% 16.1% 58.4%
2017 19.2% 36.5% 18% 55.3%
2016 20.2% 32.1% 17.9% 51.8%
2015 20.1% 31.6% 17.3% 50.7%
2014 20.1% 20.7% 17.5% 44.2%
2013 19.2% 17.5% 17.8% 44.1%
2012 17.2% 14.9% 16.6% 39.4%
2011 17.8% 15.9% 18.2% 44.6%
2010 15.2% 14% 18.5% 39.4%
2009 14.7% 11.3% 17.1% 30%
2008 15.9% 11.2% 18.8% 56.1%
2007 13.5% 13.8% 20.5% 55.7%
2006 12.5% 18.4% 22.1% 79.6%
2005 12.4% 43.8% 22.9% 78.2%
2004 13.4% 51.7% 23.1% 103.1%
2003 13.2% 51.5% 27% 103.7%
2002 13.9% 56.6% 24.9% 107.4%
2001 14.6% 62.2% 22.4% 97.3%
2000 14.6% 75.9% 25.6% 93.6%
1999 - 68.4% 25.8% 94.3%
1998 - 67.8% 20.4% 86%
1997 - - 17.3% 77.4%
1996 - - 18.2% 129%
1995 - - 16.9% 142.3%
1994 - - 17.1% 150.7%
1993 - - 13.4% 136.9%
1992 - - 13.8% 85.4%
1991 - - 16.8% 89.3%
1990 - - 20.3% 91.6%
1989 - - 24% 84.7%
1988 - - 21.6% 84.3%
1987 - - 18.4% 82.3%
1986 - - 19.8% 75.7%
1985 - - 19.7% 67.7%
1984 - - 18.8% 65.4%
1983 - - 21.3% 55.2%
1982 - - 16.4% 48.8%
1981 - - 14.2% 30.6%
1980 - - 13.5% 18.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20).

GeoRank.org/economy/cameroon/ethiopia | CC BY

In 2024, Cameroon's government spending was $8.91B, accounting for 16.7% of its GDP, while Ethiopia spent $14.3B, or 9.54% of GDP.

Debt-to-GDP ratio is 42.8% in Cameroon and 32.7% in Ethiopia, ranking 125/185 and 150/185, respectively.

Government deficit by year

Deficit/surplus
Cameroon

Ethiopia
1x
Year Deficit/surplus, % of GDP
Cameroon Ethiopia
2024 -1.48% -1.99%
2023 -0.63% -2.6%
2022 -1.11% -4.16%
2021 -3.01% -2.77%
2020 -3.19% -2.76%
2019 -3.24% -2.53%
2018 -2.41% -3.03%
2017 -4.72% -3.24%
2016 -5.88% -2.3%
2015 -4.25% -1.95%
2014 -4.09% -2.58%
2013 -3.55% -1.93%
2012 -1.4% -1.17%
2011 -2.26% -1.61%
2010 -0.93% -1.32%
2009 -0.04% -0.93%
2008 2% -2.88%
2007 3.87% -3.57%
2006 28.2% -3.79%
2005 3.03% -4.12%
2004 -0.46% -2.65%
2003 0.56% -5.59%
2002 1.51% -5.76%
2001 0.86% -3.76%
2000 1.54% -8.88%
1999 - -8.23%
1998 - -3.51%
1997 - -1.7%
1996 - -3.81%
1995 - -2.68%
1994 - -5.23%
1993 - -4%
1992 - -4.78%
1991 - -5.83%
1990 - -6.66%
1989 - -4.33%
1988 - -3.48%
1987 - -3.54%
1986 - -3.98%
1985 - -4.71%
1984 - -3.69%
1983 - -7.59%
1982 - -3.6%
1981 - -2.19%
1980 - -2.56%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/cameroon/ethiopia | CC BY

In 2024, Cameroon's government deficit, the difference between spending and revenue, was $789M, equivalent to 1.48% of GDP. This compares to Ethiopia's deficit of $2.98B, or 1.99% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Ethiopia ran a deficit in 25 years. On average, Cameroon posted an annual deficit equal to 0.04% of GDP, compared to deficit of 3.12% of GDP for Ethiopia.

Inflation comparison by year

Inflation
Cameroon

Ethiopia
1x
Year Consumer prices inflation
Cameroon Ethiopia
2024 4.53% 21%
2023 7.38% 30.2%
2022 6.25% 33.9%
2021 2.27% 26.8%
2020 2.44% 20.4%
2019 2.45% 15.8%
2018 1.07% 13.8%
2017 0.64% 10.7%
2016 0.87% 6.63%
2015 2.68% 9.57%
2014 1.85% 6.89%
2013 2.05% 7.46%
2012 2.74% 23.6%
2011 2.94% 33.2%
2010 1.28% 8.15%
2009 3.04% 8.48%
2008 5.34% 44.4%
2007 0.92% 17.2%
2006 5.12% 12.3%
2005 2.01% 9.97%
2004 0.23% 3.33%
2003 0.62% 13.7%
2002 2.83% 0.68%
2001 4.42% -8.24%
2000 1.23% 0.66%
1999 1.87% 7.94%
1998 3.17% 0.89%
1997 4.79% 2.4%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cameroon/ethiopia | CC BY

Over the past 28 years, Cameroon has recorded an average annual inflation rate of 2.75%, compared with 13.6% in Ethiopia. In 2024, inflation was 4.53% in Cameroon and 21% in Ethiopia.

Top exports between countries

Cameroon
Export category Export value
Raw materials & minerals $15M
Machinery & equipment $6K
Ethiopia
Export category Export value
Machinery & equipment $43K
Chemicals & pharma $32K
Textiles & consumer goods $22K
Animal & marine products $16K
Raw agricultural goods $6K
Wood & paper products $2K

Balance of trade

Cameroon Ethiopia
Current account balance
-$2.02B
2023
-$3.79B
2024
Current account balance ranking
144/190
2023
160/190
2024
Current account balance, % of GDP
-4.14%
2023
-2.53%
2024
Goods imports
$7.74B
2023
$19.6B
2024
Goods exports
$6.34B
2023
$5.58B
2024
Service imports
$2.55B
2023
$5.51B
2024
Service exports
$2.01B
2023
$7.61B
2024
Imports of goods and services, % of GDP
18.7%
2024
11.9%
2024
Exports of goods and services, % of GDP
15.7%
2024
5.54%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cameroon Ethiopia
Economic freedom 52 48.1
Economic freedom ranking 151/197 171/197
Property rights 28.1 22.1
Government integrity 21 33.2
Judicial effectiveness 10.1 19.1
Tax burden 72.2 78.6
Government spending 91.4 96.4
Fiscal health 94.5 84.3
Business freedom 48.6 44.5
Labor freedom 45.6 37.8
Monetary freedom 75.3 53.7
Trade freedom 57.2 57.4
Investment freedom 30 30
Financial freedom 50 20

Economic freedom comparison by year

Cameroon
Ethiopia
1x
Year Economic freedom index
Cameroon Ethiopia
2026 52 48.1
2025 52.1 48.1
2024 53.6 47.9
2023 51.9 48.3
2022 52.9 49.6
2021 53.4 51.7
2020 53.6 53.6
2019 52.4 53.6
2018 51.9 52.8
2017 51.8 52.7
2016 54.2 51.5
2015 51.9 51.5
2014 52.6 50
2013 52.3 49.4
2012 51.8 52
2011 51.8 50.5
2010 52.3 51.2
2009 53 53
2008 54.3 52.5
2007 55.6 53.6
2006 54.6 50.9
2005 53 51.1
2004 52.3 54.5
2003 52.7 48.8
2002 52.8 49.8
2001 53.3 48.9
2000 49.9 50.2
1999 50.3 46.7
1998 48 49.2
1997 44.6 48.1
1996 45.7 45.9
1995 51.3 42.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/cameroon/ethiopia | CC BY

The Economic Freedom Index for Cameroon is 52, ranking 151/197, compared to 48.1 for Ethiopia, ranking 171/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cameroon Ethiopia
Services, % of GDP
50.7%
2024
37.5%
2024
Industry, % of GDP
23.2%
2024
25.4%
2024
Agriculture, forestry, and fishing, % of GDP
18.5%
2024
34.8%
2024
GNI, Atlas method
$49.5B
2024
$146B
2024
GNI per capita, PPP
$5,490
2024
$3,280
2024
Total reserves including gold
$4.88B
2023
$3.78B
2024
Total reserves ranking
103/177
2023
109/177
2024
Net foreign direct investment
-$901M
2023
-$4.02B
2024
Net inflows of foreign direct investment
$888M
2024
$4.02B
2024
Net outflows of foreign direct investment
$63.4M
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.2%
2024
0.91%
2024
Poverty at national poverty lines
37.7%
2021
33.1%
2021
Gross capital formation, % of GDP
18.9%
2024
20.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/cameroon/ethiopia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.