Economy of Chad
| Economy - overview: | Chad's primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. Over 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. 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. The nation's total oil reserves have been estimated to be 2 billion barrels. Oil production came on stream in late 2003. Chad began to export oil in 2004. Cotton, cattle, and gum arabic provide the bulk of Chad's non-oil export earnings. |
| GDP (purchasing power parity): | $14.98 billion (2006 est.) |
| GDP (official exchange rate): | $4.967 billion (2006 est.) |
| GDP - real growth rate: | 1% (2006 est.) |
| GDP - per capita (PPP): | $1,500 (2006 est.) |
| GDP - composition by sector: | agriculture: 32.5% industry: 26.6% services: 40.8% (2006 est.) |
| Labor force: | 2.719 million (1993) |
| Labor force - by occupation: | agriculture: 80% (subsistence farming, herding, and fishing) industry and services: 20% |
| Unemployment rate: | NA% |
| Population below poverty line: | 80% (2001 est.) |
| Household income or consumption by percentage share: | lowest 10%: NA% highest 10%: NA% |
| Inflation rate (consumer prices): | 4% (2006 est.) |
| Investment (gross fixed): | 9.2% of GDP (2006 est.) |
| Budget: | revenues: $617.3 million expenditures: $877.6 million; including capital expenditures of $146 million (2006 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 million kWh (2004) |
| Electricity - production by source: | fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (2001) |
| Electricity - consumption: | 87.42 million kWh (2004) |
| Electricity - exports: | 0 kWh (2004) |
| Electricity - imports: | 0 kWh (2004) |
| Oil - production: | 225,000 bbl/day (2005 est.) |
| Oil - consumption: | 1,460 bbl/day (2004 est.) |
| Oil - exports: | 170,000 bbl/day |
| Oil - imports: | NA bbl/day |
| Oil - proved reserves: | 0 bbl (1 January 2005) |
| Natural gas - production: | 0 cu m (2004 est.) |
| Natural gas - consumption: | 0 cu m (2004 est.) |
| Current account balance: | -$324.1 million (2006 est.) |
| Exports: | $4.342 billion f.o.b. (2006 est.) |
| Exports - commodities: | cotton, cattle, gum arabic, oil |
| Exports - partners: | US 79.2%, China 10.2%, Taiwan 4% (2006) |
| Imports: | $823.1 million f.o.b. (2006 est.) |
| Imports - commodities: | machinery and transportation equipment, industrial goods, foodstuffs, textiles |
| Imports - partners: | France 19.1%, Cameroon 18.1%, US 12.9%, Germany 7.5%, Saudi Arabia 5.1%, Belgium 5% (2006) |
| Reserves of foreign exchange and gold: | $352.8 million (2006 est.) |
| Debt - external: | $1.5 billion (2003 est.) |
| Economic aid - recipient: | ODA, $246.9 million (2003 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 |