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Central African Republic:
Economy

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Central African Republic Page


Other pages in this profile of the Central African Republic:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Economy - overview
Definition
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)
Definition - World rank and map
$3.099 billion (2007 est.)
GDP (official exchange rate)
Definition
$1.714 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
4.2% (2007 est.)
GDP - per capita
Definition - World rank and map
$700 (2007 est.)
GDP - composition by sector
Definition
agriculture: 55%
industry: 20%
services: 25% (2001 est.)
Labor force
Definition
1.857 million (2006)
Unemployment rate
Definition - World rank and map
8% (23% for Bangui) (2001 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: 0.7%
highest 10%: 47.7% (1993)
Distribution of family income - Gini index
Definition - World rank and map
61.3 (1993)
Inflation rate (consumer prices)
Definition - World rank and map
0.9% (2007 est.)
Budget
Definition
revenues: $250 million
expenditures: $273 million (2007 est.)
Agriculture - products
Definition
timber, cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber
Industries
Definition
gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles
Industrial production growth rate
Definition - World rank and map
3% (2002)
Electricity - production
Definition - World rank and map
109 million kWh (2005)
Electricity - consumption
Definition - World rank and map
101.4 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
22.9 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005)
Oil - consumption
Definition - World rank and map
2,300 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.5 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
2,201 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 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)
Current account balance
Definition - World rank and map
-$77 million (2007 est.)
Exports
Definition - World rank and map
$146.7 million f.o.b. (2007 est.)
Exports - commodities
Definition
diamonds, timber, cotton, coffee, tobacco
Exports - partners
Definition
Canada 38.9%, Belgium 15.6%, Indonesia 6.5%, Italy 5.3%, France 4.9%, Spain 4.7%, Democratic Republic of the Congo 4.6% (2006)
Imports
Definition - World rank and map
$237.3 million f.o.b. (2007 est.)
Imports - commodities
Definition
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals
Imports - partners
Definition
France 16.4%, Netherlands 12.9%, Cameroon 9.6%, US 6.3% (2006)
Debt - external
Definition - World rank and map
$1.153 billion (2007 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
ODA, $95.29 million; note - traditional budget subsidies from France (2005 est.)
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 - 481.8 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
Fiscal year
Definition
calendar year


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