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World > Africa > Central African Republic > Economy (Facts)

Central African Republic - Economy (Facts)
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 - real growth rate: 3.5% (2006 est.)
GDP (purchasing power parity): $4.998 billion (2006 est.)
GDP (official exchange rate): $1.55 billion (2006 est.)
GDP - per capita (PPP): $1,200 (2006 est.)
GDP - composition by sector: agriculture: 55%
industry: 20%
services: 25% (2001 est.)
Population below poverty line: NA
Household income or consumption by percentage share: lowest 10%: 0.7%
highest 10%: 47.7% (1993)
Inflation rate (consumer prices): 3.6% (2001 est.)
Labor force: NA
Unemployment rate: 8% (23% for Bangui) (2001 est.)
Budget: revenues: NA
expenditures: NA
Industries: gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles
Industrial production growth rate: 3% (2002)
Electricity - production: 109 million kWh (2004)
Electricity - consumption: 101.4 million kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004)
Oil - consumption: 2,420 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber
Exports: $131 million f.o.b. (2004 est.)
Exports - commodities: diamonds, timber, cotton, coffee, tobacco
Exports - partners: Belgium 30.8%, Spain 10.7%, Indonesia 8%, France 7.8%, China 6.9%, Democratic Republic of the Congo 6%, Turkey 5%, Italy 4.7% (2006)
Imports: $203 million f.o.b. (2004 est.)
Imports - commodities: food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals
Imports - partners: France 15.4%, Netherlands 15.1%, US 9.2%, Cameroon 8.9% (2006)
Debt - external: $1.06 billion (2002 est.)
Economic aid - recipient: ODA, $59.8 million; note - traditional budget subsidies from France (2002 est.)
Currency: XAF
Currency code: XAF
Exchange rates: Communaute Financiere Africaine francs (XAF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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