Economy of Central African Republic
| 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): | $4.998 billion (2006 est.) |
| GDP (official exchange rate): | $1.55 billion (2006 est.) |
| GDP - real growth rate: | 3.5% (2006 est.) |
| GDP - per capita (PPP): | $1,200 (2006 est.) |
| GDP - composition by sector: | agriculture: 55% industry: 20% services: 25% (2001 est.) |
| Labor force: | NA |
| Unemployment rate: | 8% (23% for Bangui) (2001 est.) |
| Population below poverty line: | NA% |
| 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): | 3.6% (2001 est.) |
| Budget: | revenues: $NA expenditures: $NA |
| Agriculture - products: | cotton, coffee, tobacco, manioc (tapioca), yams, millet, corn, bananas; timber |
| 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 - production by source: | fossil fuel: 19.8% hydro: 80.2% nuclear: 0% other: 0% (2001) |
| 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.) |
| Natural gas - consumption: | 0 cu m (2004 est.) |
| 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 (code): | 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 - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002) |
| Fiscal year: | calendar year |