Overview: The Central African Republic (CAR) is one of the poorest countries in Africa, with a per capita income of roughly $450 in 1988. Subsistence agriculture, including forestry, is the backbone of the economy, with over 70% of the population living in the countryside. In 1988 the agricultural sector generated about 40% of GDP, mining and manufacturing 14%, utilities and construction 4%, and services 41%. Agricultural products accounted for about 60% of export earnings and the diamond industry for 30%. Important constraints to economic development include the CAR's landlocked position, a poor transportation infrastructure, and a weak human resource base. Multilateral and bilateral development assistance plays a major role in providing capital for new investment.

GDP: $1.27 billion, per capita $453; real growth rate 2.0% (1988 est.)

Inflation rate (consumer prices): - 4.2% (1988 est.)

Unemployment rate: 30% in Bangui (1988 est.)

Budget: revenues $132 million; current expenditures $305 million, including capital expenditures of $NA million (1989 est.)

Exports: $138 million (f.o.b., 1988 est.); commodities--diamonds, cotton, coffee, timber, tobacco; partners--France, Belgium, Italy, Japan, US

Imports: $285 million (c.i.f., 1988 est.); commodities--food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals, consumer goods, industrial products; partners--France, other EC, Japan, Algeria, Yugoslavia

External debt: $660 million (December 1989)

Industrial production: 1.9% (1987 est.)

Electricity: 35,000 kW capacity; 84 million kWh produced, 30 kWh per capita (1989)

Industries: sawmills, breweries, diamond mining, textiles, footwear, assembly of bicycles and motorcycles

Agriculture: accounts for 40% of GDP; self-sufficient in food production except for grain; commercial crops--cotton, coffee, tobacco, timber; food crops--manioc, yams, millet, corn, bananas

Aid: US commitments, including Ex-Im (FY70-88), $44 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.3 billion; OPEC bilateral aid (1979-89), $6 million; Communist countries (1970-88), $38 million

Currency: Communaute Financiere Africaine franc (plural--francs); 1 CFA franc (CFAF) = 100 centimes

Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1--287.99 (January 1990), 319.01 (1989), 297.85 (1988), 300.54 (1987), 346.30 (1986), 449.26 (1985)

Fiscal year: calendar year

NOTE: The information regarding Central African Republic on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Central African Republic Economy 1990 information contained here. All suggestions for corrections of any errors about Central African Republic Economy 1990 should be addressed to the CIA.