Central African Economy, Central African Republic Economy
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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 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.
GDP: 1% (2004)
GDP - real growth rate: 0.5% (2004 est.)
GDP - per capita: Purchasing power parity - $1,100 (2004 est.)
GDP - composition by sector: Agriculture: 55% industry: 20% services: 25% (2001 est.)
Population below poverty line: NA (1993)
Household income or consumption by percentage share: Lowest 10%: 0.7% highest 10%: 47.7% (1993)
Distribution of family income - Gini index: 61.3 (1993)
Inflation rate (consumer prices):
Labor force: NA
Labor force - by occupation:
Unemployment rate: 8% (23% for Bangui) (2001 est.)
Budget: Revenues: NA expenditures: NA, including capital expenditures of NA
Industries: Gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles
Industrial production growth rate: 3% (2002)
Electricity - production: 106 million kWh (2002)
Electricity - production by source:
Electricity - consumption: 98.58 million kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 2,400 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Oil - proved reserves:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Natural gas - proved reserves:
Agriculture - products: Cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber
Exports: $172 million f.o.b. (2002 est.)
Exports - commodities: Diamonds, timber, cotton, coffee, tobacco
Exports - partners: Belgium 39.2%, Italy 8.6%, Spain 7.9%, US 6.2%, France 6.1%, Indonesia 5.8%, China 4.9% (2004)
Imports: $136 million f.o.b. (2002 est.)
Imports - commodities: Food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals
Imports - partners: France 17.6%, US 16.3%, Cameroon 9.3%, Belgium 5% (2004)
Debt - external: $881.4 million (2000 est.)
Economic aid - recipient: ODA $73 million; note - traditional budget subsidies from France (2000 est.)
Currency:
Currency code:
Exchange rates: Communaute Financiere Africaine francs (XAF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000)
Fiscal year: Calendar year
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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
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