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Economy of Cameroon vs Mongolia compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $53.3B compared to $23.8B for Mongolia, ranking 91/197 and 121/197 by economy size, respectively.

Cameroon has $22.8B in government debt (42.8% of GDP), compared to $10.5B (44.1% of GDP) in Mongolia.

Cameroon vs Mongolia GDP by year

Cameroon
Mongolia
1x
Year GDP, current $
Cameroon Mongolia
2024 $53,296,694,320 $23,794,540,025
2023 $48,814,501,547 $20,325,121,394
2022 $44,347,206,073 $17,146,471,714
2021 $45,011,937,347 $15,286,441,738
2020 $40,773,241,177 $13,312,981,429
2019 $39,667,757,528 $14,206,359,018
2018 $39,955,552,190 $13,178,094,720
2017 $36,098,547,033 $11,480,847,741
2016 $33,814,337,044 $11,181,350,649
2015 $32,210,233,020 $11,619,892,591
2014 $36,386,544,706 $12,226,514,668
2013 $33,728,621,180 $12,582,122,604
2012 $30,155,062,329 $12,292,770,632
2011 $30,630,910,495 $10,409,797,378
2010 $27,507,501,821 $7,189,481,999
2009 $27,932,970,317 $4,583,850,368
2008 $27,715,142,033 $5,623,216,608
2007 $23,928,250,433 $4,234,999,704
2006 $20,910,512,975 $3,414,055,662
2005 $19,509,852,207 $2,523,471,601
2004 $18,826,214,136 $1,992,066,808
2003 $15,970,315,035 $1,595,297,356
2002 $12,417,251,350 $1,396,555,720
2001 $10,953,485,349 $1,267,997,934
2000 $10,566,579,295 $1,136,896,124
1999 $11,565,826,465 $1,057,408,589
1998 $11,298,144,990 $1,124,440,205
1997 $10,789,458,433 $1,180,934,203
1996 $11,093,538,846 $1,345,719,472
1995 $10,864,772,471 $1,452,165,005
1994 $8,902,446,252 $925,817,092
1993 $16,181,814,713 $768,401,634
1992 $12,071,775,335 $1,317,611,864
1991 $11,840,192,296 $2,379,018,326
1990 $12,314,482,628 $2,560,785,660
1989 $11,012,566,195 $3,576,966,800
1988 $12,236,057,362 $3,204,461,567
1987 $13,049,659,981 $3,020,611,600
1986 $11,857,056,199 $2,896,178,867
1985 $8,544,810,498 $2,186,505,475
1984 $7,311,938,026 $2,098,734,600
1983 $6,870,200,010 $2,725,736,633
1982 $6,611,255,964 $2,552,401,933
1981 $6,610,938,617 $2,310,099,100
1980 $6,674,569,047 $2,101,394,100
1979 $5,919,002,983 -
1978 $4,662,852,583 -
1977 $3,394,664,024 -
1976 $2,898,090,002 -
1975 $2,857,037,371 -
1974 $2,157,415,533 -
1973 $1,901,393,361 -
1972 $1,498,251,890 -
1971 $1,236,941,394 -
1970 $1,151,216,993 -
1969 $1,100,551,489 -
1968 $1,046,191,218 -
1967 $936,175,260 -
1966 $851,112,535 -
1965 $814,083,266 -
1964 $776,650,177 -
1963 $718,320,845 -
1962 $694,247,864 -
1961 $652,777,608 -
1960 $614,206,068 -

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

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

GDP per capita in Cameroon vs Mongolia by year

Cameroon
GDP per capita

GDP per capita, PPP
Mongolia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cameroon Mongolia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,830 $5,589 $6,751 $19,145
2023 $1,720 $5,411 $5,839 $18,005
2022 $1,605 $5,189 $4,994 $16,402
2021 $1,672 $4,794 $4,518 $14,792
2020 $1,556 $4,365 $4,001 $13,693
2019 $1,555 $4,241 $4,348 $13,605
2018 $1,611 $4,011 $4,108 $12,317
2017 $1,496 $3,767 $3,646 $11,096
2016 $1,442 $3,627 $3,620 $10,511
2015 $1,415 $3,498 $3,839 $10,458
2014 $1,649 $3,422 $4,126 $10,900
2013 $1,576 $3,239 $4,340 $10,442
2012 $1,449 $3,060 $4,329 $10,152
2011 $1,514 $2,989 $3,736 $8,862
2010 $1,399 $2,914 $2,625 $7,532
2009 $1,461 $2,879 $1,703 $7,119
2008 $1,492 $2,870 $2,127 $7,297
2007 $1,326 $2,818 $1,628 $6,678
2006 $1,191 $2,704 $1,330 $5,977
2005 $1,143 $2,598 $995 $5,406
2004 $1,133 $2,533 $794 $4,942
2003 $988 $2,368 $643 $4,399
2002 $790 $2,263 $570 $4,083
2001 $715 $2,191 $524 $3,889
2000 $709 $2,108 $476 $3,740
1999 $796 $2,039 $449 $3,664
1998 $799 $1,975 $484 $3,555
1997 $783 $1,915 $515 $3,449
1996 $827 $1,850 $596 $3,310
1995 $832 $1,790 $653 $3,229
1994 $701 $1,752 $423 $3,021
1993 $1,310 $1,731 $355 $2,929
1992 $1,005 $1,890 $608 $2,951
1991 $1,015 $1,963 $1,099 $3,183
1990 $1,087 $2,032 $1,220 $3,479
1989 $1,001 - $1,684 -
1988 $1,145 - $1,543 -
1987 $1,258 - $1,493 -
1986 $1,179 - $1,469 -
1985 $875 - $1,138 -
1984 $772 - $1,120 -
1983 $746 - $1,490 -
1982 $732 - $1,430 -
1981 $750 - $1,325 -
1980 $784 - $1,235 -
1979 $718 - - -
1978 $582 - - -
1977 $435 - - -
1976 $381 - - -
1975 $386 - - -
1974 $299.9 - - -
1973 $271.8 - - -
1972 $220.1 - - -
1971 $186.7 - - -
1970 $178.5 - - -
1969 $175.2 - - -
1968 $170.8 - - -
1967 $156.6 - - -
1966 $145.8 - - -
1965 $142.7 - - -
1964 $139.2 - - -
1963 $131.6 - - -
1962 $130 - - -
1961 $124.6 - - -
1960 $119.1 - - -

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

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

Cameroon's GDP per capita is $1,830, ranking 158/197, compared to $6,751 in Mongolia, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 156th at $5,589, while Mongolia ranks 98th at $19,145.

Economic indicators

Cameroon Mongolia
Gross domestic product
$53.3B
2024
$23.8B
2024
GDP rank
91/197
2024
121/197
2024
GDP growth
3.52%
2023-2024
5.12%
2023-2024
GDP per capita
$1,830
2024
$6,751
2024
GDP per capita rank
158/197
2024
105/197
2024
GDP per capita, PPP
$5,589
2024
$19,145
2024
GDP per capita PPP rank
156/197
2024
98/197
2024
Government debt
$22.8B
2024
$10.5B
2024
Debt-to-GDP ratio
42.8%
2024
44.1%
2024
Government debt per person
$784
2024
$2,974
2024
Government debt per person rank
152/185
2024
101/185
2024
Average annual personal income after taxes
$1,578
2026
$5,311
2026
Income share by richest 10%
31.1%
2021
24.6%
2022
Income share by poorest 10%
2.1%
2021
3.4%
2022
Government expenditure, % of GDP
16.7%
2024
37.5%
2024
Consumer prices inflation
4.53%
2023-2024
6.2%
2023-2024
Central bank interest rate n/a
12%
2025
Unemployment rate
3.28%
2021
5.81%
2024
Population
30864115
3620317

Spending and national debt comparison by year

Cameroon
Spending

Debt
Mongolia
Spending

Debt
1x
Year % of GDP
Cameroon Mongolia
Government spending Government debt Government spending Government debt
2024 16.7% 42.8% 37.5% 44.1%
2023 17.1% 43.1% 31.9% 46.7%
2022 17.1% 45.6% 33.7% 64.6%
2021 17.1% 47.2% 35.9% 67.4%
2020 16.6% 44.9% 37.1% 83.4%
2019 18.7% 41.6% 30.8% 66.8%
2018 18% 38.3% 28.4% 76.5%
2017 19.2% 36.5% 32.2% 86.9%
2016 20.2% 32.1% 39.7% 78.7%
2015 20.1% 31.6% 31.2% 50.5%
2014 20.1% 20.7% 32.1% 44%
2013 19.2% 17.5% 32.2% 49.4%
2012 17.2% 14.9% 36.1% 43.7%
2011 17.8% 15.9% 37.9% 32.7%
2010 15.2% 14% 31.6% 31%
2009 14.7% 11.3% 35.5% 48.5%
2008 15.9% 11.2% 37.6% 31%
2007 13.5% 13.8% 35.3% 36.1%
2006 12.5% 18.4% 26.2% 40.9%
2005 12.4% 43.8% 25.1% 55.9%
2004 13.4% 51.7% 31.8% 75%
2003 13.2% 51.5% 33.7% 90%
2002 13.9% 56.6% 35.5% 72%
2001 14.6% 62.2% 35.2% 69.2%
2000 14.6% 75.9% 34.5% 79.3%
1999 - 68.4% 33.2% 103.7%
1998 - 67.8% 36.2% 77.5%
1997 - - 30.8% 61%
1996 - - 28.6% 49.7%
1995 - - 26.6% 40.2%
1994 - - 32.2% 57.6%
1993 - - 38.3% 57.8%
1992 - - 29.1% 29.3%
1991 - - 46% -
1990 - - 51.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-02-20).

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

In 2024, Cameroon's government spending was $8.91B, accounting for 16.7% of its GDP, while Mongolia spent $8.92B, or 37.5% of GDP.

Debt-to-GDP ratio is 42.8% in Cameroon and 44.1% in Mongolia, ranking 125/185 and 122/185, respectively.

Government deficit by year

Deficit/surplus
Cameroon

Mongolia
1x
Year Deficit/surplus, % of GDP
Cameroon Mongolia
2024 -1.48% 1.39%
2023 -0.63% 2.73%
2022 -1.11% 0.67%
2021 -3.01% -3.05%
2020 -3.19% -9.24%
2019 -3.24% 1%
2018 -2.41% 2.85%
2017 -4.72% -3.72%
2016 -5.88% -15.3%
2015 -4.25% -5.04%
2014 -4.09% -3.73%
2013 -3.55% -0.93%
2012 -1.4% -6.24%
2011 -2.26% -4.01%
2010 -0.93% 0.43%
2009 -0.04% -5.2%
2008 2% -4.52%
2007 3.87% 2.64%
2006 28.2% 7.58%
2005 3.03% 2.43%
2004 -0.46% -1.62%
2003 0.56% -3.38%
2002 1.51% -4.74%
2001 0.86% -4.33%
2000 1.54% -5.82%
1999 - -9.91%
1998 - -12.3%
1997 - -8.09%
1996 - -6.88%
1995 - -4.97%
1994 - -9.74%
1993 - -13.3%
1992 - -8.1%
1991 - -6.37%
1990 - -9.37%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/cameroon/mongolia | 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 Mongolia's surplus of $332M, or 1.39% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Mongolia ran a deficit in 16 years. On average, Cameroon posted an annual deficit equal to 0.04% of GDP, compared to deficit of 2.36% of GDP for Mongolia.

Inflation comparison by year

Inflation
Cameroon

Mongolia
1x
Year Consumer prices inflation
Cameroon Mongolia
2024 4.53% 6.2%
2023 7.38% 10.4%
2022 6.25% 15.1%
2021 2.27% 7.4%
2020 2.44% 3.7%
2019 2.45% 7.3%
2018 1.07% 6.8%
2017 0.64% 4.3%
2016 0.87% 0.8%
2015 2.68% 6.8%
2014 1.85% 12.9%
2013 2.05% 10.6%
2012 2.74% 13.8%
2011 2.94% 8.8%
2010 1.28% 8.3%
2009 3.04% 7.6%
2008 5.34% 28%
2007 0.92% 9.6%
2006 5.12% 4.4%
2005 2.01% 12.6%
2004 0.23% 8.3%
2003 0.62% 5.2%
2002 2.83% 0.9%
2001 4.42% 6.4%
2000 1.23% 11.3%
1999 1.87% 7.6%
1998 3.17% 9.5%
1997 4.79% 30%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Cameroon has recorded an average annual inflation rate of 2.75%, compared with 9.45% in Mongolia. In 2024, inflation was 4.53% in Cameroon and 6.2% in Mongolia.

Balance of trade

Cameroon Mongolia
Current account balance
-$2.02B
2023
-$2.49B
2024
Current account balance ranking
144/190
2023
149/190
2024
Current account balance, % of GDP
-4.14%
2023
-10.4%
2024
Goods imports
$7.74B
2023
$11.7B
2024
Goods exports
$6.34B
2023
$14.7B
2024
Service imports
$2.55B
2023
$4.92B
2024
Service exports
$2.01B
2023
$1.6B
2024
Imports of goods and services, % of GDP
18.7%
2024
69.7%
2024
Exports of goods and services, % of GDP
15.7%
2024
68.7%
2024

Economic freedom indices

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

Cameroon Mongolia
Economic freedom 52 63.9
Economic freedom ranking 151/197 76/197
Property rights 28.1 49.2
Government integrity 21 35.8
Judicial effectiveness 10.1 54.9
Tax burden 72.2 83.7
Government spending 91.4 64.6
Fiscal health 94.5 96.1
Business freedom 48.6 68.4
Labor freedom 45.6 68.2
Monetary freedom 75.3 72.1
Trade freedom 57.2 74.4
Investment freedom 30 50
Financial freedom 50 50

Economic freedom comparison by year

Cameroon
Mongolia
1x
Year Economic freedom index
Cameroon Mongolia
2026 52 63.9
2025 52.1 62.6
2024 53.6 60.6
2023 51.9 61.7
2022 52.9 63.9
2021 53.4 62.4
2020 53.6 55.9
2019 52.4 55.4
2018 51.9 55.7
2017 51.8 54.8
2016 54.2 59.4
2015 51.9 59.2
2014 52.6 58.9
2013 52.3 61.7
2012 51.8 61.5
2011 51.8 59.5
2010 52.3 60
2009 53 62.8
2008 54.3 63.6
2007 55.6 60.3
2006 54.6 62.4
2005 53 59.7
2004 52.3 56.5
2003 52.7 57.7
2002 52.8 56.7
2001 53.3 56
2000 49.9 58.5
1999 50.3 58.6
1998 48 57.3
1997 44.6 52.9
1996 45.7 47.4
1995 51.3 47.8

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

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

The Economic Freedom Index for Cameroon is 52, ranking 151/197, compared to 63.9 for Mongolia, ranking 76/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cameroon Mongolia
Services, % of GDP
50.7%
2024
44.3%
2024
Industry, % of GDP
23.2%
2024
38.1%
2024
Agriculture, forestry, and fishing, % of GDP
18.5%
2024
7.29%
2024
GNI, Atlas method
$49.5B
2024
$19B
2024
GNI per capita, PPP
$5,490
2024
$17,000
2024
Total reserves including gold
$4.88B
2023
$5.51B
2024
Total reserves ranking
103/177
2023
95/177
2024
Net foreign direct investment
-$901M
2023
-$2.73B
2024
Net inflows of foreign direct investment
$888M
2024
$2.78B
2024
Net outflows of foreign direct investment
$63.4M
2024
$55.5M
2024
Servicing debt to the IMF, % of GNI
3.2%
2024
25.7%
2024
Poverty at national poverty lines
37.7%
2021
27.1%
2022
Gross capital formation, % of GDP
18.9%
2024
35.5%
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/mongolia | 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. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-02-20)
  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.