Economy - overview:
Chad's primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. At least 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. Chad's economy has long been handicapped by its landlocked position, high energy costs, and a history of instability. Chad relies on foreign assistance and foreign capital for most public and private sector investment projects. A consortium led by two US companies has been investing $3.7 billion to develop oil reserves - estimated at 1 billion barrels - in southern Chad. Chinese companies are also expanding exploration efforts and are currently building a 300-km pipleline and the country's first refinery. The nation's total oil reserves are estimated at 1.5 billion barrels. Oil production came on stream in late 2003. Chad began to export oil in 2004. Cotton, cattle, and gum arabic provide the bulk of Chad's non-oil export earnings.
GDP (purchasing power parity):
$15.85 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$6.974 billion (2009 est.)
GDP - real growth rate:
-1% (2009 est.)
GDP - per capita (PPP):
$1,500 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 57.2%
industry:
7.5%
services:
35.3% (2008 est.)
Labor force:
4.293 million (2007)
Labor force - by occupation:
agriculture: 80% (subsistence farming, herding, and fishing)
industry and services:
20% (2006 est.)
Unemployment rate:
NA% est.)
Population below poverty line:
80% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%:
30.8%
Investment (gross fixed):
14.9% of GDP (2009 est.)
Budget:
revenues: $872.5 million
expenditures:
$1.454 billion (2009 est.)
Inflation rate (consumer prices):
6% (2009 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:
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels
Industries:
oil, cotton textiles, meatpacking, brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate:
1.5% (2009 est.)
Electricity - production:
100 million kWh (2007 est.)
Electricity - consumption:
93 million kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
127,000 bbl/day (2008 est.)
Oil - consumption:
1,000 bbl/day (2008 est.)
Oil - exports:
157,900 bbl/day (2007 est.)
Oil - imports:
1,571 bbl/day (2007 est.)
Oil - proved reserves:
1.5 billion 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:
$-1.843 billion (2009 est.)
Exports:
$3.164 billion (2009 est.)
Exports - commodities:
oil, cattle, cotton, gum arabic
Exports - partners:
US 92.8%, Japan 2.2%, France 1.5% (2008)
Imports:
$2.115 billion (2009 est.)
Imports - commodities:
machinery and transportation equipment, industrial goods, foodstuffs, textiles
Imports - partners:
France 17.5%, Cameroon 14.8%, China 9.8%, Ukraine 9.5%, US 7.7%, Germany 5.6%, Saudi Arabia 4.7%, Netherlands 4% (2008)
Reserves of foreign exchange and gold:
$820 million (31 December 2009 est.)
Debt - external:
$1.6 billion (2005 est.)
Stock of direct foreign investment - at home:
$NA (31 December 2009 est.)
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 481.35 (2009), 447.81 (2008), 480.1 (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 Chad 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 Chad Economy 2010 information contained here. All suggestions for corrections of any errors about Chad Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10