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Economy - overview:
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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 half of GDP. Timber has accounted for about 16% of export earnings and the diamond industry, for 54%. 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, with GDP growth at only 0.5% in 2004. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. |
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GDP (purchasing power parity):
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$4.248 billion (2004 est.) |
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GDP - real growth rate:
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0.5% (2004 est.) |
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GDP - per capita:
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purchasing power parity - $1,100 (2004 est.) |
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GDP - composition by sector:
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agriculture: 55%
industry: 20% services: 25% (2001 est.) |
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Labor force:
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NA |
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Unemployment rate:
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8% (23% for Bangui) (2001 est.) |
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Population below poverty line:
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NA (1993) |
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Household income or consumption by percentage share:
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lowest 10%: 0.7%
highest 10%: 47.7% (1993) |
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Distribution of family income - Gini index:
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61.3 (1993) |
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Inflation rate (consumer prices):
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3.6% (2001 est.) |
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Budget:
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revenues: NA
expenditures: NA, including capital expenditures of NA |
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Agriculture - products:
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cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber |
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Industries:
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gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles |
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Industrial production growth rate:
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3% (2002) |
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Electricity - production:
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106 million kWh (2002) |
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Electricity - production by source:
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fossil fuel: 19.8%
hydro: 80.2% nuclear: 0% other: 0% (2001) |
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Electricity - consumption:
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98.58 million kWh (2002) |
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Electricity - exports:
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0 kWh (2002) |
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Electricity - imports:
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0 kWh (2002) |
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Oil - production:
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0 bbl/day (2001 est.) |
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Oil - consumption:
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2,400 bbl/day (2001 est.) |
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Oil - exports:
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NA |
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Oil - imports:
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NA |
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Exports:
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$172 million f.o.b. (2002 est.) |
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Exports - commodities:
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diamonds, timber, cotton, coffee, tobacco |
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Exports - partners:
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Belgium 39.2%, Italy 8.6%, Spain 7.9%, US 6.2%, France 6.1%, Indonesia 5.8%, China 4.9% (2004) |
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Imports:
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$136 million f.o.b. (2002 est.) |
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Imports - commodities:
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food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals |
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Imports - partners:
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France 17.6%, US 16.3%, Cameroon 9.3%, Belgium 5% (2004) |
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Debt - external:
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$881.4 million (2000 est.) |
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Economic aid - recipient:
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ODA $73 million; note - traditional budget subsidies from France (2000 est.) |
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Currency (code):
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Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States |
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Currency code:
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XAF |
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Exchange rates:
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Communaute Financiere Africaine francs (XAF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000) |
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Fiscal year:
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calendar year |
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