| 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 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):
|
$3.299 billion (2009 est.)
$3.222 billion (2008 est.)
$3.152 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$700 (2009 est.)
$700 (2008 est.)
$700 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
|
$1.983 billion (2009 est.) |
GDP - real growth rate:
|
2.4% (2009 est.)
2.2% (2008 est.)
3.7% (2007 est.) |
GDP - composition by sector:
|
agriculture: 55%
industry: 20%
services: 25% (2001 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
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lowest 10%: 2.1%
highest 10%: 33% (2003) |
Distribution of family income - Gini index:
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61.3 (1993) |
Inflation rate (consumer prices):
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0.9% (2007 est.) |
Central bank discount rate:
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4.75% (31 December 2008)
5.25% (31 December 2007) |
Commercial bank prime lending rate:
|
NA% (31 December 2008)
15% (31 December 2007) |
Stock of money:
|
$NA (31 December 2008)
$218.3 million (31 December 2007) |
Stock of money - per capita:
|
1 USD per capita |
Stock of quasi money:
|
$NA (31 December 2008)
$47.58 million (31 December 2007) |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
$NA (31 December 2008)
$320.2 million (31 December 2007) |
Stock of domestic credit - per capita:
|
void |
Labor force:
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1.926 million (2007) |
Labor force participation rate:
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42.69 % of population |
Labor force - by occupation:
|
void |
Unemployment rate:
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8% (2001 est.)
note: 23% unemployment for Bangui |
Budget:
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revenues: $334 million
expenditures: $362 million (2007 est.) |
Budget revenues per capita:
|
75 USD per capita |
Public debt:
|
void |
Industries:
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gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles |
Industrial production growth rate:
|
3% (2002) |
Electricity - production:
|
115 million kWh (2007 est.) |
Electricity - production per capita:
|
26 kWh per capita |
Electricity - consumption:
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107 million kWh (2007 est.) |
Electricity - consumption - per capita:
|
24 kWh per capita |
Electricity - exports:
|
0 kWh (2008 est.) |
Electricity - imports:
|
0 kWh (2008 est.) |
Oil - production:
|
0 bbl/day (2008 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
|
0.16 bbl/year per capita |
Oil - exports:
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0 bbl/day (2007 est.) |
Oil - imports:
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2,203 bbl/day (2007 est.) |
Oil - proved reserves:
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0 bbl (1 January 2009 est.) |
Natural gas - production:
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0 cu m (2008 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2008 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2008 est.) |
Natural gas - imports:
|
0 cu m (2008 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2009 est.) |
Agriculture - products:
|
timber, cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber |
Current account balance:
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$-77 million (2007 est.) |
Current account balance - per capita:
|
-17 USD per capita |
Exports:
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$146.7 million (2007 est.) |
Exports per capita:
|
33 USD per capita |
Exports - commodities:
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diamonds, timber, cotton, coffee, tobacco |
Exports - partners:
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Japan 40.4%, Belgium 9.8%, China 8.2%, Morocco 6%, Indonesia 5.6%, France 4.4%, Italy 4.1%, Democratic Republic of the Congo 4% (2008) |
Imports:
|
$237.3 million (2007 est.) |
Imports per capita:
|
53 USD per capita |
Imports - commodities:
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food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals |
Imports - partners:
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South Korea 20.2%, France 13.6%, Cameroon 7.7%, Netherlands 5.8%, US 5.3% (2008) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$1.153 billion (2007 est.) |
Debt - external - per capita:
|
256 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 |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$95.29 million |
Economic aid - recipient per capita:
|
22 USD per capita |
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 - 481.35 (2009), 447.81 (2008), 481.8 (2007), 522.59 (2006), 527.47 (2005)
note: since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par |
Fiscal year:
|
calendar year |
|
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