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Central African Republic Economy 2017
https://theodora.com/wfbcurrent/central_african_republic/central_african_republic_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Central African Republic Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Subsistence agriculture, together with forestry and mining, 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 and diamonds account for most export earnings, followed by cotton. Important constraints to economic development include the CAR's landlocked geography, poor transportation system, largely unskilled work force, and 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.Since 2009, the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the 2011 election worsened CAR's fiscal situation. In 2012, the World Bank approved $125 million in funding for transport infrastructure and regional trade, focused on the route between CAR's capital and the port of Douala in Cameroon. After a two-year lag in donor support, the IMF's first review of CAR's extended credit facility for 2012-15 praised improvements in revenue collection but warned of weak management of spending.Kimberley Process participants partially lifted the ban on diamond exports from the country in 2015, but persistent insecurity will prevent GDP from recovering to its pre-2013 level.

GDP (purchasing power parity):
$3.206 billion (2016 est.) $3.048 billion (2015 est.) $2.908 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 184
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.782 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.2% (2016 est.) 4.8% (2015 est.) 1% (2014 est.)
country comparison to the world: 32
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$700 (2016 est.) $600 (2015 est.) $600 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 229
[see also: GDP - per capita country ranks ]

Gross national saving:
6.8% of GDP (2016 est.) 4.9% of GDP (2015 est.) 4.6% of GDP (2014 est.)
country comparison to the world: 163
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 108.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 9.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 10.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 12.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -40.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 58%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 11.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 30.3% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, coffee, tobacco, cassava (manioc, tapioca), yams, millet, corn, bananas; timber

Industries:
gold and diamond mining, logging, brewing, sugar refining

Industrial production growth rate:
3.5% (2016 est.)
country comparison to the world: 61
[see also: Industrial production growth rate country ranks ]

Labor force:
2.421 million (2016 est.)
country comparison to the world: 117
[see also: Labor force country ranks ]

Unemployment rate:
8% (2001 est.)
note: 23% unemployment in the capital, Bangui
country comparison to the world: 90
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33% (2003)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
61.3 (1993)
country comparison to the world: 3
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $207.1 million
[see also: Budget revenues country ranks ]
expenditures: $284.7 million (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
11.6% of GDP (2016 est.)
country comparison to the world: 206
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.4% of GDP (2016 est.)
country comparison to the world: 147
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.3% (2016 est.) 4.5% (2015 est.)
country comparison to the world: 144
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009) 4.75% (31 December 2008)
country comparison to the world: 89
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15.5% (31 December 2016 est.) 15.5% (31 December 2015 est.)
country comparison to the world: 34
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$392.7 million (31 December 2016 est.) $340.9 million (31 December 2015 est.)
country comparison to the world: 171
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$500.7 million (31 December 2016 est.) $426.7 million (31 December 2015 est.)
country comparison to the world: 184
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$521.4 million (31 December 2016 est.) $444.4 million (31 December 2015 est.)
country comparison to the world: 170
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$178 million (2016 est.) -$144 million (2015 est.)
country comparison to the world: 82
[see also: Current account balance country ranks ]

Exports:
$77 million (2016 est.) $70.5 million (2015 est.)
country comparison to the world: 197
[see also: Exports country ranks ]

Exports - commodities:
diamonds, timber, cotton, coffee

Exports - partners:
Norway 52.2%, China 14.1%, Democratic Republic of the Congo 8.3% (2015)

Imports:
$375.3 million (2016 est.) $360.4 million (2015 est.)
country comparison to the world: 196
[see also: Imports country ranks ]

Imports - commodities:
food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals

Imports - partners:
Norway 39.6%, France 6.8%, US 4.6% (2015)

Debt - external:
$686.9 million (31 December 2016 est.) $661.9 million (31 December 2015 est.)
country comparison to the world: 174
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)

NOTE: The information regarding Central African Republic on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Central African Republic Economy 2017 information contained here. All suggestions for corrections of any errors about Central African Republic Economy 2017 should be addressed to the CIA.




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