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Economy of Cameroon vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $53.3B compared to $93.3B for Luxembourg, ranking 91/197 and 74/197 by economy size, respectively.

Cameroon has $22.8B in government debt (42.8% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Cameroon vs Luxembourg GDP by year

Cameroon
Luxembourg
1x
Year GDP, current $
Cameroon Luxembourg
2024 $53,296,694,320 $93,279,851,863
2023 $48,814,501,547 $88,788,881,539
2022 $44,347,206,073 $80,801,680,397
2021 $45,011,937,347 $86,386,759,695
2020 $40,773,241,177 $73,670,782,100
2019 $39,667,757,528 $69,872,035,114
2018 $39,955,552,190 $71,085,623,495
2017 $36,098,547,033 $65,712,180,343
2016 $33,814,337,044 $62,216,885,436
2015 $32,210,233,020 $60,071,584,216
2014 $36,386,544,706 $68,804,811,898
2013 $33,728,621,180 $65,203,276,467
2012 $30,155,062,329 $59,776,383,527
2011 $30,630,910,495 $61,696,281,326
2010 $27,507,501,821 $56,213,985,987
2009 $27,932,970,317 $54,467,289,898
2008 $27,715,142,033 $58,844,277,702
2007 $23,928,250,433 $51,587,401,416
2006 $20,910,512,975 $42,910,146,296
2005 $19,509,852,207 $37,672,280,120
2004 $18,826,214,136 $35,064,843,793
2003 $15,970,315,035 $29,667,268,248
2002 $12,417,251,350 $23,649,833,332
2001 $10,953,485,349 $21,387,533,703
2000 $10,566,579,295 $21,230,182,989
1999 $11,565,826,465 $21,899,317,599
1998 $11,298,144,990 $20,150,053,345
1997 $10,789,458,433 $19,563,836,265
1996 $11,093,538,846 $20,895,314,658
1995 $10,864,772,471 $20,853,093,870
1994 $8,902,446,252 $17,701,798,891
1993 $16,181,814,713 $15,925,521,222
1992 $12,071,775,335 $15,518,702,635
1991 $11,840,192,296 $13,834,219,728
1990 $12,314,482,628 $12,778,792,854
1989 $11,012,566,195 $10,037,674,038
1988 $12,236,057,362 $9,418,167,855
1987 $13,049,659,981 $8,320,902,215
1986 $11,857,056,199 $6,685,595,088
1985 $8,544,810,498 $4,577,211,767
1984 $7,311,938,026 $4,438,435,493
1983 $6,870,200,010 $4,524,217,751
1982 $6,611,255,964 $4,602,316,793
1981 $6,610,938,617 $5,053,665,797
1980 $6,674,569,047 $6,019,805,490
1979 $5,919,002,983 $5,516,982,664
1978 $4,662,852,583 $4,718,539,772
1977 $3,394,664,024 $3,789,321,328
1976 $2,898,090,002 $3,423,586,207
1975 $2,857,037,371 $3,123,333,333
1974 $2,157,415,533 $3,183,637,117
1973 $1,901,393,361 $2,609,875,802
1972 $1,498,251,890 $1,901,697,370
1971 $1,236,941,394 $1,518,773,421
1970 $1,151,216,993 $1,457,768,455
1969 $1,100,551,489 $1,245,432,991
1968 $1,046,191,218 $1,075,561,623
1967 $936,175,260 $983,052,315
1966 $851,112,535 $976,717,015
1965 $814,083,266 $929,477,285
1964 $776,650,177 $910,877,686
1963 $718,320,845 $797,902,154
1962 $694,247,864 $747,846,862
1961 $652,777,608 $710,163,719
1960 $614,206,068 $709,941,874

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

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

GDP per capita in Cameroon vs Luxembourg by year

Cameroon
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cameroon Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,830 $5,589 $137,782 $155,941
2023 $1,720 $5,411 $133,231 $150,508
2022 $1,605 $5,189 $123,720 $146,919
2021 $1,672 $4,794 $134,966 $136,772
2020 $1,556 $4,365 $116,860 $122,067
2019 $1,555 $4,241 $112,697 $121,372
2018 $1,611 $4,011 $116,927 $116,638
2017 $1,496 $3,767 $110,193 $114,986
2016 $1,442 $3,627 $106,899 $113,365
2015 $1,415 $3,498 $105,462 $107,860
2014 $1,649 $3,422 $123,679 $105,296
2013 $1,576 $3,239 $120,000 $100,925
2012 $1,449 $3,060 $112,585 $96,636
2011 $1,514 $2,989 $119,025 $94,475
2010 $1,399 $2,914 $110,886 $90,336
2009 $1,461 $2,879 $109,420 $86,919
2008 $1,492 $2,870 $120,422 $90,971
2007 $1,326 $2,818 $107,475 $85,126
2006 $1,191 $2,704 $90,789 $78,861
2005 $1,143 $2,598 $80,988 $68,788
2004 $1,133 $2,533 $76,545 $64,686
2003 $988 $2,368 $65,689 $60,192
2002 $790 $2,263 $53,006 $58,576
2001 $715 $2,191 $48,440 $56,136
2000 $709 $2,108 $48,660 $55,136
1999 $796 $2,039 $50,872 $49,845
1998 $799 $1,975 $47,445 $44,270
1997 $783 $1,915 $46,642 $42,488
1996 $827 $1,850 $50,444 $39,722
1995 $832 $1,790 $51,032 $38,345
1994 $701 $1,752 $43,933 $37,551
1993 $1,310 $1,731 $40,067 $35,899
1992 $1,005 $1,890 $39,571 $34,108
1991 $1,015 $1,963 $35,747 $33,191
1990 $1,087 $2,032 $33,465 $29,949
1989 $1,001 - $26,618 -
1988 $1,145 - $25,219 -
1987 $1,258 - $22,443 -
1986 $1,179 - $18,150 -
1985 $875 - $12,482 -
1984 $772 - $12,127 -
1983 $746 - $12,374 -
1982 $732 - $12,591 -
1981 $750 - $13,837 -
1980 $784 - $16,531 -
1979 $718 - $15,204 -
1978 $582 - $13,034 -
1977 $435 - $10,486 -
1976 $381 - $9,491 -
1975 $386 - $8,701 -
1974 $299.9 - $8,967 -
1973 $271.8 - $7,447 -
1972 $220.1 - $5,487 -
1971 $186.7 - $4,435 -
1970 $178.5 - $4,298 -
1969 $175.2 - $3,690 -
1968 $170.8 - $3,203 -
1967 $156.6 - $2,935 -
1966 $145.8 - $2,925 -
1965 $142.7 - $2,804 -
1964 $139.2 - $2,779 -
1963 $131.6 - $2,462 -
1962 $130 - $2,332 -
1961 $124.6 - $2,241 -
1960 $119.1 - $2,261 -

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

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

Cameroon's GDP per capita is $1,830, ranking 158/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 156th at $5,589, while Luxembourg ranks 1st at $155,941.

Economic indicators

Cameroon Luxembourg
Gross domestic product
$53.3B
2024
$93.3B
2024
GDP rank
91/197
2024
74/197
2024
GDP growth
3.52%
2023-2024
0.36%
2023-2024
GDP per capita
$1,830
2024
$137,782
2024
GDP per capita rank
158/197
2024
3/197
2024
GDP per capita, PPP
$5,589
2024
$155,941
2024
GDP per capita PPP rank
156/197
2024
1/197
2024
Government debt
$22.8B
2024
$24.5B
2024
Debt-to-GDP ratio
42.8%
2024
26.3%
2024
Government debt per person
$784
2024
$36,221
2024
Government debt per person rank
152/185
2024
19/185
2024
Average annual personal income after taxes
$1,578
2026
$69,593
2026
Market capitalization of domestic companies n/a
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
31.1%
2021
25%
2023
Income share by poorest 10%
2.1%
2021
2.8%
2023
Government expenditure, % of GDP
16.7%
2024
46.9%
2024
Consumer prices inflation
4.53%
2023-2024
2.05%
2023-2024
Unemployment rate
3.28%
2021
6.42%
2024
Population
30864115
693885

Spending and national debt comparison by year

Cameroon
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Cameroon Luxembourg
Government spending Government debt Government spending Government debt
2024 16.7% 42.8% 46.9% 26.3%
2023 17.1% 43.1% 46.4% 24.7%
2022 17.1% 45.6% 44.3% 24.9%
2021 17.1% 47.2% 42.4% 24.2%
2020 16.6% 44.9% 47% 24.5%
2019 18.7% 41.6% 43.1% 22.3%
2018 18% 38.3% 42.3% 20.9%
2017 19.2% 36.5% 41.3% 21.8%
2016 20.2% 32.1% 40% 19.6%
2015 20.1% 31.6% 40.4% 21.1%
2014 20.1% 20.7% 40.6% 21.9%
2013 19.2% 17.5% 41.2% 22.4%
2012 17.2% 14.9% 41.8% 20.8%
2011 17.8% 15.9% 41.5% 18.5%
2010 15.2% 14% 42% 19.1%
2009 14.7% 11.3% 42.7% 15.3%
2008 15.9% 11.2% 37.9% 14.6%
2007 13.5% 13.8% 37.4% 8.09%
2006 12.5% 18.4% 39.4% 8.21%
2005 12.4% 43.8% 43.4% 7.95%
2004 13.4% 51.7% 43.7% 7.83%
2003 13.2% 51.5% 43.3% 7.43%
2002 13.9% 56.6% 41.8% 7.45%
2001 14.6% 62.2% 38.1% 7.62%
2000 14.6% 75.9% 38% 7.49%
1999 - 68.4% 41.7% 8.39%
1998 - 67.8% 43.9% 9.51%
1997 - - 44.2% 10.1%
1996 - - 42.5% 10.2%
1995 - - 42% 10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

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

In 2024, Cameroon's government spending was $8.91B, accounting for 16.7% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 42.8% in Cameroon and 26.3% in Luxembourg, ranking 125/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Cameroon

Luxembourg
1x
Year Deficit/surplus, % of GDP
Cameroon Luxembourg
2024 -1.48% 1.03%
2023 -0.63% -0.78%
2022 -1.11% 0.18%
2021 -3.01% 1%
2020 -3.19% -3.09%
2019 -3.24% 2.68%
2018 -2.41% 3.17%
2017 -4.72% 1.37%
2016 -5.88% 1.89%
2015 -4.25% 1.3%
2014 -4.09% 1.33%
2013 -3.55% 0.84%
2012 -1.4% 0.5%
2011 -2.26% 0.65%
2010 -0.93% -0.26%
2009 -0.04% -0.21%
2008 2% 3.37%
2007 3.87% 4.35%
2006 28.2% 1.9%
2005 3.03% -0.21%
2004 -0.46% -1.39%
2003 0.56% 0.28%
2002 1.51% 2.03%
2001 0.86% 5.62%
2000 1.54% 5.55%
1999 - 3.24%
1998 - 2.98%
1997 - 2.65%
1996 - 2.37%
1995 - 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/cameroon/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Luxembourg ran a deficit in 6 years. On average, Cameroon posted an annual deficit equal to 0.04% of GDP, compared to surplus of 1.32% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Cameroon

Luxembourg
1x
Year Consumer prices inflation
Cameroon Luxembourg
2024 4.53% 2.05%
2023 7.38% 3.74%
2022 6.25% 6.34%
2021 2.27% 2.53%
2020 2.44% 0.82%
2019 2.45% 1.74%
2018 1.07% 1.53%
2017 0.64% 1.73%
2016 0.87% 0.29%
2015 2.68% 0.47%
2014 1.85% 0.63%
2013 2.05% 1.73%
2012 2.74% 2.66%
2011 2.94% 3.41%
2010 1.28% 2.27%
2009 3.04% 0.37%
2008 5.34% 3.4%
2007 0.92% 2.31%
2006 5.12% 2.67%
2005 2.01% 2.49%
2004 0.23% 2.23%
2003 0.62% 2.05%
2002 2.83% 2.07%
2001 4.42% 2.66%
2000 1.23% 3.15%
1999 1.87% 1.03%
1998 3.17% 0.96%
1997 4.79% 1.37%

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

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

Over the past 28 years, Cameroon has recorded an average annual inflation rate of 2.75%, compared with 2.1% in Luxembourg. In 2024, inflation was 4.53% in Cameroon and 2.05% in Luxembourg.

Top exports between countries

Cameroon
Export category Export value
Raw materials & minerals $64K
Processed food, beverages & tobacco $28K
Machinery & equipment $1K
Luxembourg
Export category Export value
Machinery & equipment $1.61M
Metals $633K
Chemicals & pharma $315K
Miscellaneous $71K
Textiles & consumer goods $48K
Wood & paper products $35K
Raw materials & minerals $28K
Processed food, beverages & tobacco $26K
Weapons & explosives $3K

Balance of trade

Cameroon Luxembourg
Current account balance
-$2.02B
2023
$4.1B
2024
Current account balance ranking
144/190
2023
35/190
2024
Current account balance, % of GDP
-4.14%
2023
+4.4%
2024
Goods imports
$7.74B
2023
$29.4B
2024
Goods exports
$6.34B
2023
$31.3B
2024
Service imports
$2.55B
2023
$117B
2024
Service exports
$2.01B
2023
$150B
2024
Imports of goods and services, % of GDP
18.7%
2024
159.7%
2024
Exports of goods and services, % of GDP
15.7%
2024
191.5%
2024

Economic freedom indices

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

Cameroon Luxembourg
Economic freedom 52 79.7
Economic freedom ranking 151/197 7/197
Property rights 28.1 96.6
Government integrity 21 88.7
Judicial effectiveness 10.1 99.1
Tax burden 72.2 62.3
Government spending 91.4 36.9
Fiscal health 94.5 98.6
Business freedom 48.6 89.5
Labor freedom 45.6 56.7
Monetary freedom 75.3 74.1
Trade freedom 57.2 79.4
Investment freedom 30 95
Financial freedom 50 80

Economic freedom comparison by year

Cameroon
Luxembourg
1x
Year Economic freedom index
Cameroon Luxembourg
2026 52 79.7
2025 52.1 79.5
2024 53.6 79.2
2023 51.9 78.4
2022 52.9 80.6
2021 53.4 76
2020 53.6 75.8
2019 52.4 75.9
2018 51.9 76.4
2017 51.8 75.9
2016 54.2 73.9
2015 51.9 73.2
2014 52.6 74.2
2013 52.3 74.2
2012 51.8 74.5
2011 51.8 76.2
2010 52.3 75.4
2009 53 75.2
2008 54.3 74.7
2007 55.6 74.6
2006 54.6 75.3
2005 53 76.3
2004 52.3 78.9
2003 52.7 79.9
2002 52.8 79.4
2001 53.3 80.1
2000 49.9 76.4
1999 50.3 72.4
1998 48 72.7
1997 44.6 72.8
1996 45.7 72.5
1995 51.3 -

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

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

The Economic Freedom Index for Cameroon is 52, ranking 151/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cameroon Luxembourg
Services, % of GDP
50.7%
2024
81.2%
2024
Industry, % of GDP
23.2%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
18.5%
2024
0.21%
2024
GNI, Atlas method
$49.5B
2024
$57.3B
2024
GNI per capita, PPP
$5,490
2024
$110,650
2024
Total reserves including gold
$4.88B
2023
$2.79B
2024
Total reserves ranking
103/177
2023
119/177
2024
Net foreign direct investment
-$901M
2023
$21.4B
2024
Net inflows of foreign direct investment
$888M
2024
$106B
2024
Net outflows of foreign direct investment
$63.4M
2024
$109B
2024
Servicing debt to the IMF, % of GNI
3.2%
2024
n/a
Poverty at national poverty lines
37.7%
2021
17.3%
2021
Gross capital formation, % of GDP
18.9%
2024
15.8%
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/luxembourg | 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 (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.