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 likely to be no more than 1.3% in 2003. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs.
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 production by source
Fossil fuel: 19.8%
Hydro: 80.2%
Other: 0% (2001)
Nuclear: 0%
Electricity Consumption
98.63 million kWh (2001)
Electricity Exports
0 kWh (2001)
Electricity Imports
0 kWh (2001)
Currency
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States
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)
Budget
Revenues: $NA
Expenditures: $NA, including capital expenditures of $NA
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$881.4 million (2000 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Communaute Financiere Africaine francs (XAF) per US dollar - 696.99 (2002), 733.04 (2001), 711.98 (2000), 615.7 (1999), 589.95 (1998)
