| Economy | Central African Republic |
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Economy - overview:
|
Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with about 60% 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. Since 2009 the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the election in 2011 worsened CAR's fiscal situation. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. CAR currently lacks an IMF program. |
GDP (purchasing power parity):
|
$3.672 billion (2011 est.)
$3.57 billion (2010 est.)
$3.366 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$800 (2011 est.)
$800 (2010 est.)
$800 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$2.3 billion (2011 est.) |
GDP - real growth rate:
|
4.1% (2011 est.)
3.3% (2010 est.)
1.7% (2009 est.) |
GDP - composition by sector:
|
agriculture: 53.4%
industry: 14.6%
services: 32.1% (2011 est.) |
Investment (gross fixed):
|
12% of GDP (2011 est.) |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: 2.1%
highest 10%: 33% (2003) |
Distribution of family income - Gini index:
|
61.3 (1993) |
Inflation rate (consumer prices):
|
2.6% (2011 est.)
1.5% (2010 est.) |
Central bank discount rate:
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4.25% (31 December 2009)
4.75% (31 December 2008) |
Commercial bank prime lending rate:
|
15% (31 December 2011 est.)
15% (31 December 2010 est.) |
Stock of money:
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$241.3 million (31 December 2008)
$218.3 million (31 December 2007) |
Stock of money - per capita:
|
49 USD per capita |
Stock of quasi money:
|
$51.65 million (31 December 2008)
$47.57 million (31 December 2007) |
Stock of quasi money - per capita:
|
11 USD per capita |
Stock of domestic credit:
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$492.7 million (31 December 2011 est.)
$381.4 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
100 USD per capita |
Stock of narrow money:
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$369.4 million (31 December 2011 est.)
$304.4 million (31 December 2010 est.) |
Stock of broad money:
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$481.9 million (31 December 2011 est.)
$365.1 million (31 December 2010 est.) |
Labor force:
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1.926 million (2007) |
Labor force participation rate:
|
38.91 % of population |
Labor force - by occupation:
|
void |
Unemployment rate:
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8% (2001 est.)
note: 23% unemployment for Bangui |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $355.9 million
expenditures: $357.6 million (2011 est.) |
Budget revenues per capita:
|
72 USD per capita |
Taxes and other revenues:
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15.5% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-0.1% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
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gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles |
Industrial production growth rate:
|
3% (2002) |
Electricity - production:
|
160 million kWh (2008 est.) |
Electricity - production per capita:
|
33 kWh per capita |
Electricity - consumption:
|
148.8 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
31 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.15 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
2,418 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
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timber, cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber |
Current account balance:
|
-$233.2 million (2011 est.)
-$177.4 million (2010 est.) |
Current account balance - per capita:
|
-47 USD per capita |
Exports:
|
$168.7 million (2011 est.)
$152.5 million (2010 est.) |
Exports per capita:
|
35 USD per capita |
Exports - commodities:
|
diamonds, timber, cotton, coffee, tobacco |
Exports - partners:
|
Belgium 25.6%, China 17.5%, Morocco 12.1%, Democratic Republic of the Congo 8.1%, France 6.1%, Indonesia 4.9% (2010) |
Imports:
|
$378.1 million (2011 est.)
$312.2 million (2010 est.) |
Imports per capita:
|
77 USD per capita |
Imports - commodities:
|
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals |
Imports - partners:
|
Netherlands 27.8%, France 11.9%, Cameroon 8.3%, China 5.1% (2010) |
Reserves of foreign exchange and gold:
|
$217.2 million (31 December 2011 est.)
$186 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
44 USD per capita |
Debt - external:
|
$485.8 million (31 December 2011 est.)
$402.8 million (31 December 2010 est.) |
Debt - external - per capita:
|
99 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States |
Exchange rates:
|
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
473.7 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
|
Fiscal year:
|
calendar year |
|
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