Chad Economy
Economy - overviewChad's primarily agricultural economy will continue to be boosted by major oilfield and pipeline projects that began in 2000. Over 80% of Chad's population relies on subsistence farming and stock raising for its livelihood. Cotton, cattle, and gum arabic provide the bulk of Chad's export earnings, but Chad will begin to export oil in 2004. Chad's economy has long been handicapped by its landlocked position, high energy costs, and a history of instability. Chad relies on foreign assistance and foreign capital for most public and private sector investment projects. A consortium led by two US companies has been investing $3.7 billion to develop oil reserves estimated at 1 billion barrels in southern Chad. Oil production came on stream in late 2003.
GDP
purchasing power parity - $10.67 billion (2003 est.)
GDP - real growth rate
15% (2003 est.)
GDP - per capita
purchasing power parity - $1,200 (2003 est.)
GDP - composition by sector
agriculture: 32.4%
industry: 18.8%
services: 48.8% (2003 est.)
Investment
40.3% of GDP (2003)
Population below poverty line
80% (2001 est.)
Household income or consumption by percentage share
lowest 10%: NA
highest 10%: NA
Inflation rate
6% (2003 est.)
Labor force
NA (2002)
Labor force - by occupation
agriculture more than 80% (subsistence farming, herding, and fishing)
Unemployment rate
NA (2000)
Budget
revenues: $591.2 million
expenditures: $680.9 million, including capital expenditures of $146 million (2003 est.)
Agriculture - products
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels
Industries
oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate
5% (1995)
Electricity - production
94.04 million kWh (2001)
Electricity - consumption
87.46 million kWh (2001)
Electricity - exports
0 kWh (2001)
Electricity - imports
0 kWh (2001)
Oil - production
0 bbl/day (2001 est.)
Oil - consumption
1,500 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Current account balance
$-474 million (2003)
Exports
$365 million f.o.b. (2003 est.)
Exports - commodities
cotton, cattle, gum arabic
Exports - partners
US 25%, Germany 17%, Portugal 15.9%, France 6.8%, Morocco 4.5% (2003)
Imports
$760 million f.o.b. (2003 est.)
Imports - commodities
machinery and transportation equipment, industrial goods, petroleum products, foodstuffs, textiles
Imports - partners
France 28.6%, US 20.7%, Cameroon 14.6%, Netherlands 4.7% (2003)
Reserves of foreign exchange & gold
$191.8 million (2003)
Debt - external
$1.1 billion (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)
