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Chad Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Chad Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Chad’s landlocked location results in high transportation costs for imported goods and dependence on neighboring countries. Oil and agriculture are mainstays of Chad’s economy. Oil provides about 60% of export revenues, while cotton, cattle, livestock, and gum arabic provide the bulk of Chad's non-oil export earnings. The services sector contributes less than one-third of GDP and has attracted foreign investment mostly through telecommunications and banking.

Nearly all of Chad’s fuel is provided by one domestic refinery, and unanticipated shutdowns occasionally result in shortages. The country regulates the price of domestic fuel, providing an incentive for black market sales.

Although high oil prices and strong local harvests supported the economy in the past, low oil prices now stress Chad’s fiscal position and have resulted in significant government cutbacks. Chad relies on foreign assistance and foreign capital for most of its public and private sector investment. Investment in Chad is difficult due to its limited infrastructure, lack of trained workers, extensive government bureaucracy, and corruption. Chad obtained a three-year extended credit facility from the IMF in 2014 and was granted debt relief under the Heavily Indebted Poor Countries Initiative in April 2015.

In 2018, economic policy will be driven by efforts that started in 2016 to reverse the recession and to repair damage to public finances and exports. The government is implementing an emergency action plan to counterbalance the drop in oil revenue and to diversify the economy. Chad’s national development plan (NDP) cost just over $9 billion with a financing gap of $6.7 billion. The NDP emphasized the importance of private sector participation in Chad’s development, as well as the need to improve the business environment, particularly in priority sectors such as mining and agriculture.

The Government of Chad reached a deal with Glencore and four other banks on the restructuring of a $1.45 billion oil-backed loan in February 2018, after a long negotiation. The new terms include an extension of the maturity to 2030 from 2022, a two-year grace period on principal repayments, and a lower interest rate of the London Inter-bank Offer Rate (Libor) plus 2% - down from Libor plus 7.5%. The original Glencore loan was to be repaid with crude oil assets, however, Chad's oil sales were hit by the downturn in the price of oil. Chad had secured a $312 million credit from the IMF in June 2017, but release of those funds hinged on restructuring the Glencore debt. Chad had already cut public spending to try to meet the terms of the IMF program, but that prompted strikes and protests in a country where nearly 40% of the population lives below the poverty line. Multinational partners, such as the African Development Bank, the EU, and the World Bank are likely to continue budget support in 2018, but Chad will remain at high debt risk, given its dependence on oil revenue and pressure to spend on subsidies and security.

GDP (purchasing power parity):
$28.62 billion (2017 est.)
$29.55 billion (2016 est.)
$31.58 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 134
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.872 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-3.1% (2017 est.)
-6.4% (2016 est.)
1.8% (2015 est.)
country comparison to the world: 211
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,300 (2017 est.)
$2,500 (2016 est.)
$2,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 202
[see also: GDP - per capita country ranks ]

Gross national saving:
15.5% of GDP (2017 est.)
7.5% of GDP (2016 est.)
13.3% of GDP (2015 est.)
country comparison to the world: 133
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 75.1% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 4.4% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.1% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 35.1% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.4% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 52.3% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 14.7% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 33.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, sorghum, millet, peanuts, sesame, corn, rice, potatoes, onions, cassava (manioc, tapioca), cattle, sheep, goats, camels

Industries:
oil, cotton textiles, brewing, natron (sodium carbonate), soap, cigarettes, construction materials

Industrial production growth rate:
-4% (2017 est.)
country comparison to the world: 192
[see also: Industrial production growth rate country ranks ]

Labor force:
5.654 million (2017 est.)
country comparison to the world: 74
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 80%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20% (2006 est.)
[see also: Labor force - by occupation - industry country ranks ]

Unemployment rate:
NA
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.7% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.8% (2003)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
43.3 (2011 est.)
country comparison to the world: 47
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 1.337 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.481 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
13.5% (of GDP) (2017 est.)
country comparison to the world: 206
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.5% (of GDP) (2017 est.)
country comparison to the world: 89
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
52.5% of GDP (2017 est.)
52.4% of GDP (2016 est.)
country comparison to the world: 94
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.9% (2017 est.)
-1.1% (2016 est.)
country comparison to the world: 2
[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: 91
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15.5% (31 December 2017 est.)
15.5% (31 December 2016 est.)
country comparison to the world: 36
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.397 billion (31 December 2017 est.)
$1.241 billion (31 December 2016 est.)
country comparison to the world: 144
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.397 billion (31 December 2017 est.)
$1.241 billion (31 December 2016 est.)
country comparison to the world: 152
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.681 billion (31 December 2017 est.)
$2.387 billion (31 December 2016 est.)
country comparison to the world: 143
[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:
-$558 million (2017 est.)
-$926 million (2016 est.)
country comparison to the world: 121
[see also: Current account balance country ranks ]

Exports:
$2.464 billion (2017 est.)
$2.187 billion (2016 est.)
country comparison to the world: 133
[see also: Exports country ranks ]

Exports - partners:
US 38.7%, China 16.6%, Netherlands 15.7%, UAE 12.2%, India 6.3% (2017)

Exports - commodities:
oil, livestock, cotton, sesame, gum arabic, shea butter

Imports:
$2.16 billion (2017 est.)
$1.997 billion (2016 est.)
country comparison to the world: 163
[see also: Imports country ranks ]

Imports - commodities:
machinery and transportation equipment, industrial goods, foodstuffs, textiles

Imports - partners:
China 19.9%, Cameroon 17.2%, France 17%, US 5.4%, India 4.9%, Senegal 4.5% (2017)

Reserves of foreign exchange and gold:
$22.9 million (31 December 2017 est.)
$20.92 million (31 December 2016 est.)
country comparison to the world: 190
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.724 billion (31 December 2017 est.)
$1.281 billion (31 December 2016 est.)
country comparison to the world: 154
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$4.5 billion (2006 est.)
country comparison to the world: 107
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
605.3 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)


NOTE: 1) The information regarding Chad on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chad Economy 2019 information contained here. All suggestions for corrections of any errors about Chad Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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