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Economy - overview:
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Chad's primarily agricultural economy will continue to be boosted by major oilfield and pipeline projects that began in 2000. Over 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. Cotton, cattle, and gum arabic provide the bulk of Chad's export earnings; Chad began to export oil in 2004. 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. Oil production came on stream in late 2003. |
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GDP (purchasing power parity):
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$15.66 billion (2004 est.) |
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GDP - real growth rate:
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38% (2004 est.) |
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GDP - per capita:
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purchasing power parity - $1,600 (2004 est.) |
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GDP - composition by sector:
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agriculture: 22.6%
industry: 35.6% services: 41.7% (2004 est.) |
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Labor force:
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NA |
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Labor force - by occupation:
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agriculture more than 80% (subsistence farming, herding, and fishing) |
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Unemployment rate:
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NA |
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Population below poverty line:
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80% (2001 est.) |
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Household income or consumption by percentage share:
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lowest 10%: NA
highest 10%: NA |
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Inflation rate (consumer prices):
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8% (2004 est.) |
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Investment (gross fixed):
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24.7% of GDP (2004 est.) |
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Budget:
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revenues: $1.131 billion
expenditures: $957.7 million, including capital expenditures of $146 million (2004 est.) |
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Agriculture - products:
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cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels |
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Industries:
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oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials |
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Industrial production growth rate:
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5% (1995) |
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Electricity - production:
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96.13 million kWh (2002) |
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0% nuclear: 0% other: 0% (2001) |
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Electricity - consumption:
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89.4 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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200,000 bbl/day (2004 est.) |
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Oil - consumption:
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1,500 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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Current account balance:
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$330.2 million (2004 est.) |
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Exports:
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$365 million f.o.b. (2003 est.) |
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Exports - commodities:
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cotton, cattle, gum arabic |
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Exports - partners:
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US 67.8%, China 21.5%, Portugal 4.3% (2004) |
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Imports:
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$500.7 million f.o.b. (2004 est.) |
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Imports - commodities:
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machinery and transportation equipment, industrial goods, petroleum products, foodstuffs, textiles |
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Imports - partners:
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France 21.9%, Cameroon 16.1%, US 10.8%, Portugal 10.4%, Germany 6.4%, Belgium 4.6% (2004) |
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Reserves of foreign exchange and gold:
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$652.7 million (2004 est.) |
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Debt - external:
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$1.1 billion (2000 est.) |
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Economic aid - recipient:
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$238.3 million received; note - $125 million committed by Taiwan (August 1997); $30 million committed by African Development Bank; ODA $150 million (2001 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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