Economy Overview
Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with about 60% 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)country comparison to the world: 116
Labor Force
1.926 million (2007)country comparison to the world: 121
Electricity production
160 million kWh (2008 est.)country comparison to the world: 184
Electricity Consumption
148.8 million kWh (2008 est.)country comparison to the world: 189
Electricity Exports
0 kWh (2009 est.)
Electricity Imports
0 kWh (2009 est.)
Unemployment Rate
8% (2001 est.)country comparison to the world: 91 note: 23% unemployment for Bangui
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: 2.1%
Highest 10%: 33% (2003)
Distribution of Family Income Gini Index
61.3 (1993)country comparison to the world: 7
Budget
Revenues: $325.7 million
Expenditures: $335.2 million (2010 est.)
Central Bank Discount Rate
4.25% (31 December 2009)country comparison to the world: 78 4.75% (31 December 2008)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$304.4 million (31 December 2010 est.)country comparison to the world: 169 $288.8 million (31 December 2009 est.)
Stock of Broad Money
$365.1 million (31 December 2010 est.)country comparison to the world: 180 $343.4 million (31 December 2009 est.)
Stock of Domestic Credit
$381.4 million (31 December 2010 est.)country comparison to the world: 171 $357.6 million (31 December 2009 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$186 million (31 December 2010 est.)country comparison to the world: 166 $210.6 million (31 December 2009 est.)
Debt External
$402.8 million (31 December 2010 est.)country comparison to the world: 168 $396 million (31 December 2009 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -495.28 (2010)472.19 (2009)481.8 (2007)522.59 (2006)
