Central African Republic Economy
Economy - overviewSubsistence 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 likely to contract in 2004. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs.
GDP
purchasing power parity - $4.183 billion (2003 est.)
GDP - real growth rate
-7% (2003 est.)
GDP - per capita
purchasing power parity - $1,100 (2003 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
3.6% (2001 est.)
Labor force
NA (2000 est.)
Unemployment rate
8% (23% for Bangui) (2001 est.)
Budget
revenues: NA
expenditures: NA, including capital expenditures of NA
Agriculture - products
cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber
Industries
diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles
Industrial production growth rate
3% (2002)
Electricity - production
106 million kWh (2001)
Electricity - consumption
98.63 million kWh (2001)
Electricity - exports
0 kWh (2001)
Electricity - imports
0 kWh (2001)
Oil - production
0 bbl/day (2001 est.)
Oil - consumption
2,400 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Exports
$172 million f.o.b. (2002 est.)
Exports - commodities
diamonds, timber, cotton, coffee, tobacco
Exports - partners
Belgium 41.8%, Italy 10.7%, Spain 9.8%, France 7.4%, Indonesia 6.6% (2003)
Imports
$136 million f.o.b. (2002 est.)
Imports - commodities
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals
Imports - partners
France 27%, Cameroon 9.2%, US 5.3% (2003)
Debt - external
$881.4 million (2000 est.)
Currency
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States
Currency code
XAF
Exchange rates
Communaute Financiere Africaine francs (XAF) per US dollar - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
