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Chad:
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Other pages in this profile of Chad:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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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. Over 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. The nation's total oil reserves have been estimated to be 2 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) |
$14.98 billion (2006 est.) |
GDP (official exchange rate) |
$4.981 billion (2006 est.) |
GDP - real growth rate |
1.3% (2006 est.) |
GDP - per capita |
$1,500 (2006 est.) |
GDP - composition by sector |
agriculture: 22.7% industry: 47% services: 30.3% (2006 est.) |
Labor force |
2.719 million (1993) |
Labor force - by occupation |
agriculture: 80% (subsistence farming, herding, and fishing) industry and services: 20% (1993) |
Unemployment rate |
NA% |
Population below poverty line |
80% (2001 est.) |
Household income or consumption by percentage share |
lowest 10%: NA% highest 10%: NA% |
Inflation rate (consumer prices) |
8% (2006 est.) |
Investment (gross fixed) |
16.8% of GDP (2006 est.) |
Budget |
revenues: $990.6 million expenditures: $1.038 billion (2006 est.) |
Agriculture - products |
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels |
Industries |
oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials |
Electricity - production |
95 million kWh (2005) |
Electricity - consumption |
88.35 million kWh (2005) |
Electricity - exports |
0 kWh (2005) |
Electricity - imports |
0 kWh (2005) |
Oil - production |
225,000 bbl/day (2005 est.) |
Oil - consumption |
1,460 bbl/day (2004 est.) |
Oil - exports |
170,000 bbl/day (2004) |
Oil - imports |
NA bbl/day |
Oil - proved reserves |
0 bbl (1 January 2006) |
Natural Gas - production |
0 cu m (2005 est.) |
Natural Gas - consumption |
0 cu m (2005 est.) |
Current account balance |
$-104 million (2006 est.) |
Exports |
$3.749 billion f.o.b. (2006 est.) |
Exports - commodities |
cotton, cattle, gum arabic, oil |
Exports - partners |
US 80.6%, China 10.4%, South Korea 2.3% (2006) |
Imports |
$1.007 billion f.o.b. (2006 est.) |
Imports - commodities |
machinery and transportation equipment, industrial goods, foodstuffs, textiles |
Imports - partners |
France 18.7%, Cameroon 17.6%, US 12.6%, Germany 7.4%, Saudi Arabia 5%, Belgium 4.9% (2006) |
Reserves of foreign exchange and gold |
$632.2 million (2006 est.) |
Debt - external |
$1.5 billion (2003 est.) |
Economic aid - recipient |
ODA, $379.8 million (2005) |
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) |
Fiscal year |
calendar year |
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