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.
Agriculture Products
timber, 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)
Labor Force
1.857 million (2006)
Electricity production
110 million kWh (2006 est.)
Electricity Consumption
102.3 million kWh (2006 est.)
Electricity Exports
0 kWh (2007 est.)
Electricity Imports
0 kWh (2007 est.)
Unemployment Rate
8% (23% for Bangui) (2001 est.)
Population Below Poverty Line
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: $250 million
Expenditures: $273 million (2007 est.)
Central Bank Discount Rate
5.25% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$320.2 million (31 December 2007)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
Debt External
$1.153 billion (2007 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Communaute Financiere Africaine francs (XAF) per US dollar - 481.8 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
