Forestry activities in Cameroon are expected to decline between July and September 2024 due to decreased demand, according to the Central African States Bank (BEAC) economic outlook. The bank's report also highlights that poor road conditions and disruptions in electricity supply in forested areas are hindering the sector's development.
This bleak forecast comes amid a progressive increase in export taxes on logs and minimally processed wood in Cameroon. This tax hike has already dampened the activity of some local forestry operators. The government says the higher export taxes are preparing for a ban on log shipments from the CEMAC region and the DRC to international markets. Set to take effect in 2028, the ban aims to boost local processing.
The BEAC’s economic outlook, published quarterly, is a forward-looking document based on surveys of business leaders, administrative heads, and other key players in various sectors within CEMAC. It provides predictions on economic activity for the upcoming quarter and explains the main influencing factors.
Source: businessincameroon.com
