Central African Republic

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Introduction - Central African Republic:
Location - Central African Republic:
People - Central African Republic:
Government - Central African Republic:
Economy - Central African Republic:

Economy overview

Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with more than 70% of the population living in outlying areas. The agricultural sector generates more than half of GDP. Timber has accounted for about 16% of export earnings and the diamond industry, for 40%. Important constraints to economic development include the CARs landlocked position, a poor transportation system, a largely unskilled work force, and a legacy of misdirected macroeconomic policies. Factional fighting between the government and its opponents remains a drag on economic revitalization. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs.

Gdp purchasing power parity

$4.998 billion (2006 est.)

Gdp official exchange rate

$1.55 billion (2006 est.)

Gdp real growth rate

3.5% (2006 est.)

Gdp per capita ppp

$1,200 (2006 est.)

Gdp composition by sector

agriculture: 55%
industry: 20%
services: 25% (2001 est.)

Labor force

NA

Unemployment rate

8% (23% for Bangui) (2001 est.)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: 0.7%
highest 10%: 47.7% (1993)

Distribution of family income gini index

61.3 (1993)

Inflation rate consumer prices

3.6% (2001 est.)

Budget

revenues: $NA
expenditures: $NA

Agriculture products

cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber

Industries

gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles

Industrial production growth rate

3% (2002)

Electricity production

109 million kWh (2004)

Electricity consumption

101.4 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004)

Oil consumption

2,420 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Exports

$131 million f.o.b. (2004 est.)

Exports commodities

diamonds, timber, cotton, coffee, tobacco

Exports partners

Belgium 30.8%, Spain 10.7%, Indonesia 8%, France 7.8%, China 6.9%, Democratic Republic of the Congo 6%, Turkey 5%, Italy 4.7% (2006)

Imports

$203 million f.o.b. (2004 est.)

Imports commodities

food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals

Imports partners

France 15.4%, Netherlands 15.1%, US 9.2%, Cameroon 8.9% (2006)

Debt external

$1.06 billion (2002 est.)

Economic aid recipient

ODA, $59.8 million; note - traditional budget subsidies from France (2002 est.)

Currency code

Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States

Exchange rates

Communaute Financiere Africaine francs (XAF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)

Communications - Central African Republic:
Transportation - Central African Republic:
Military - Central African Republic:
This page was last updated on 16 September, 2007
Source: CIA >>>


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