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Chad:
Economy

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Economy - overview
Definition
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 plan to build a refinery. The nation's total oil reserves have been estimated to be 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)
Definition - World rank and map
$15.9 billion (2007 est.)
GDP (official exchange rate)
Definition
$7.095 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
0.6% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,700 (2007 est.)
GDP - composition by sector
Definition
agriculture: 21.5%
industry: 47.8%
services: 30.6% (2007 est.)
Labor force
Definition
3.747 million (2006)
Labor force - by occupation
Definition
agriculture: 80% (subsistence farming, herding, and fishing)
industry and services: 20% (2006 est.)
Unemployment rate
Definition - World rank and map
NA%
Population below poverty line
Definition
80% (2001 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
-8.8% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
11.2% of GDP (2007 est.)
Budget
Definition
revenues: $1.864 billion
expenditures: $1.749 billion (2007 est.)
Agriculture - products
Definition
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels
Industries
Definition
oil, cotton textiles, meatpacking, brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate
Definition - World rank and map
2% (2007 est.)
Electricity - production
Definition - World rank and map
95 million kWh (2005)
Electricity - consumption
Definition - World rank and map
88.35 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
8.8 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
176,700 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
1,350 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.1 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
170,000 bbl/day (2004)
Oil - imports
Definition - World rank and map
1,316 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
1.5 billion bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$302 million (2007 est.)
Exports
Definition - World rank and map
$4.198 billion f.o.b. (2007 est.)
Exports - commodities
Definition
oil, cattle, cotton, gum arabic
Exports - partners
Definition
US 87.2%, Japan 3.6%, South Korea 2.8% (2006)
Imports
Definition - World rank and map
$1.158 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transportation equipment, industrial goods, foodstuffs, textiles
Imports - partners
Definition
France 19.8%, Cameroon 15.7%, US 10.6%, China 9.2%, Germany 7.3%, Saudi Arabia 4.3% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$997.3 million (31 December 2007 est.)
Debt - external
Definition - World rank and map
$1.6 billion (2005 est.)
Stock of direct foreign investment - at home
Definition
$4.5 billion (2006 est.)
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
ODA, $379.8 million (2005)
Currency (code)
Definition
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States
Exchange rates
Definition
Communaute Financiere Africaine francs (XAF) per US dollar - 480.1 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
Fiscal year
Definition
calendar year


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