Cameroon: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Cameroon

The Cameroonian market for processed petroleum oils and distillates dropped significantly to $X in 2022, with a decrease of -15.1% against the previous year. Over the period under review, consumption recorded a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Cameroon

In value terms, processed petroleum oils and distillates production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. The growth pace was the most rapid in 2017 when the production volume increased by 13% against the previous year. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Cameroon

In 2022, approx. X tons of processed petroleum oils and distillates were exported from Cameroon; therefore, remained relatively stable against the previous year's figure. Overall, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.3% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 79% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports reduced to $X in 2022. Over the period under review, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 75% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Canada (X tons) and Singapore (X tons) were the main destinations of processed petroleum oils and distillates exports from Cameroon, with a combined 9.3% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +915.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for processed petroleum oils and distillates exported from Cameroon were France ($X), the Netherlands ($X) and Canada ($X), together accounting for 40% of total exports.

Canada, with a CAGR of +785.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, stabilizing at the previous year. Overall, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of 28%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+19.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates

Imports into Cameroon

After four years of growth, supplies from abroad of processed petroleum oils and distillates decreased by -38.4% to X tons in 2022. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 331% against the previous year. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, processed petroleum oils and distillates imports dropped rapidly to $X in 2022. In general, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 367% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest processed petroleum oils and distillates supplier to Cameroon, with a 19% share of total imports. Moreover, processed petroleum oils and distillates imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Singapore (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled +66.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.2% per year) and Singapore (+94.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of processed petroleum oils and distillates to Cameroon, comprising 20% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6% share of total imports. It was followed by Singapore, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium stood at +47.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.7% per year) and Singapore (+70.6% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform