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Central African Republic Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Central African Republic Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 30, 2014

Economy - overview:
Subsistence agriculture, together with forestry and mining, remains the backbone of the economy of the Central African Republic (CAR), with about 60% of the population living in outlying areas. The agricultural sector generates more than half of GDP. Timber and diamonds account for most export earnings, followed by cotton. 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. Since 2009 the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the election in 2011 worsened CAR's fiscal situation. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. In 2012 the World Bank approved $125 million in funding for transport infrastructure and regional trade, focused on the route between CAR's capital and the port of Douala in Cameroon. After a two year lag in donor support, the IMF's first review of CAR's extended credit facility for 2012-15 praised improvements in revenue collection but warned of weak management of spending.

GDP (purchasing power parity):
$3.849 billion (2012 est.)
country comparison to the world: 177

$3.698 billion (2011 est.)
$3.579 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.143 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2012 est.)
country comparison to the world: 83

3.3% (2011 est.)
3% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$900 (2012 est.)
country comparison to the world: 219

$800 (2011 est.)
$800 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
3.8% of GDP (2012 est.)
country comparison to the world: 138

3.7% of GDP (2011 est.)
4% of GDP (2010 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 91.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 8.4%
investment in fixed capital: 13%
investment in inventories: 0%
exports of goods and services: 12.7%
imports of goods and services: -25.5%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 55.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 14.7%
services: 29.7% (2012 est.)

Agriculture - products:
cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber

Industries:
gold and diamond mining, logging, brewing, sugar refining

Industrial production growth rate:
3% (2012 est.)
country comparison to the world: 89
[see also: Industrial production growth rate country ranks ]

Labor force:
2.082 million (2011 est.)
country comparison to the world: 122
[see also: Labor force country ranks ]

Unemployment rate:
8% (2001 est.)
country comparison to the world: 91
note: 23% unemployment in Bangui
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33% (2003)

Distribution of family income - Gini index:
61.3 (1993)
country comparison to the world: 5
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $340.8 million
[see also: Budget revenues country ranks ]
expenditures: $356.9 million (2012 est.)

Taxes and other revenues:
15.9% of GDP (2012 est.)
country comparison to the world: 187
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.7% of GDP (2012 est.)
country comparison to the world: 59
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.8% (2012 est.)
country comparison to the world: 160

1.3% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 75

4.75% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2012 est.)
country comparison to the world: 44

15% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$337.7 million (31 December 2012 est.)
country comparison to the world: 165

$329.7 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$459.7 million (31 December 2012 est.)
country comparison to the world: 178

$406.6 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$507.7 million (31 December 2012 est.)
country comparison to the world: 165

$444.7 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-197.6 million (2012 est.)
country comparison to the world: 81

$-191.4 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$207.7 million (2012 est.)
country comparison to the world: 182

$186.3 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
diamonds, timber, cotton, coffee

Exports - partners:
Belgium 31.7%, China 27.9%, Democratic Republic of the Congo 7.8%, Indonesia 5.2%, France 4.5% (2012)

Imports:
$333.7 million (2012 est.)
country comparison to the world: 195

$319.8 million (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals

Imports - partners:
Netherlands 20.3%, France 9.7%, Cameroon 9.1%, South Korea 9.1% (2012)

Debt - external:
$632.7 million (31 December 2012 est.)
country comparison to the world: 171

$573 million (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -

510.53 (2012 est.)
471.87 (2011 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)


NOTE: 1) The information regarding Central African Republic on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Central African Republic Economy 2014 information contained here. All suggestions for corrections of any errors about Central African Republic Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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