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 CAR's 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):
$3.299 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$1.983 billion (2009 est.)
GDP - real growth rate:
2.4% (2009 est.)
GDP - per capita (PPP):
$700 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 55%
industry:
20%
services:
25% (2001 est.)
Labor force:
1.926 million (2007)
Unemployment rate:
8% (2001 est.)
note:
23% unemployment for Bangui
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: 2.1%
highest 10%:
33% (2003)
Distribution of family income - Gini index:
61.3 (1993)
Budget:
revenues: $334 million
expenditures:
$362 million (2007 est.)
Inflation rate (consumer prices):
0.9% (2007 est.)
Central bank discount rate:
4.75% (31 December 2008)
Commercial bank prime lending rate:
NA% (31 December 2008)
Stock of money:
$NA (31 December 2008)
Stock of quasi money:
$NA (31 December 2008)
Stock of domestic credit:
$NA (31 December 2008)
Market value of publicly traded shares:
$NA
Agriculture - products:
timber, 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:
115 million kWh (2007 est.)
Electricity - consumption:
107 million kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
0 bbl/day (2008 est.)
Oil - consumption:
2,000 bbl/day (2008 est.)
Oil - exports:
0 bbl/day (2007 est.)
Oil - imports:
2,203 bbl/day (2007 est.)
Oil - proved reserves:
0 bbl (1 January 2009 est.)
Natural gas - production:
0 cu m (2008 est.)
Natural gas - consumption:
0 cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
0 cu m (2008 est.)
Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
Current account balance:
$-77 million (2007 est.)
Exports:
$146.7 million (2007 est.)
Exports - commodities:
diamonds, timber, cotton, coffee, tobacco
Exports - partners:
Japan 40.4%, Belgium 9.8%, China 8.2%, Morocco 6%, Indonesia 5.6%, France 4.4%, Italy 4.1%, Democratic Republic of the Congo 4% (2008)
Imports:
$237.3 million (2007 est.)
Imports - commodities:
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals
Imports - partners:
South Korea 20.2%, France 13.6%, Cameroon 7.7%, Netherlands 5.8%, US 5.3% (2008)
Debt - external:
$1.153 billion (2007 est.)
Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 481.35 (2009), 447.81 (2008), 481.8 (2007), 522.59 (2006), 527.47 (2005)
note:
since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par
NOTE: The information regarding Central African Republic on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Central African Republic Economy 2010 information contained here. All suggestions for corrections of any errors about Central African Republic Economy 2010 should be addressed to the CIA.
- Main Index
- 2010 Index
- Country Ranks
- Definitions
- Central African Republic Main Index
- Central African Republic Index 2010
- Introduction
- Geography
- Maps
- People
- Religion
- Government
- Gov. Leaders
- Flags
- Economy
- Communications
- Transportation
- Airport Codes
- Military
- Transnational Issues
- Photos
- Advertise Here
- Feedback
This page was last modified 09-Feb-10