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 likely to contract in 2004. 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)
Labor Force
NA (2000 est.)
Electricity production
106 million kWh (2001)
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 (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)
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 - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
