Central African Republic Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

enormous natural resources; extreme poverty; weak public institutions and infrastructure; political and gender-based violence have led to displacement of roughly 25% of population; Bangui-Douala corridor blockade reduced activity and tax collection; strong agricultural performance offset COVID-19 downturn

Real GDP (purchasing power parity)

$4.483 billion (2019 est.)

$4.354 billion (2018 est.)

$4.195 billion (2017 est.)

note: data are in 2017 dollars

Real GDP growth rate

0.9% (2021 est.)

0.9% (2020 est.)

3.1% (2019 est.)

Real GDP per capita

$800 (2021 est.)

$800 (2020 est.)

$900 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$1.937 billion (2017 est.)

Inflation rate (consumer prices)

4.26% (2021 est.)

1.71% (2020 est.)

2.69% (2019 est.)

GDP - composition, by sector of origin

agriculture: 43.2% (2017 est.)

industry: 16% (2017 est.)

services: 40.8% (2017 est.)

GDP - composition, by end use

household consumption: 95.3% (2017 est.)

government consumption: 8.5% (2017 est.)

investment in fixed capital: 13.7% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 12% (2017 est.)

imports of goods and services: -29.5% (2017 est.)

Agricultural products

cassava, yams, groundnuts, taro, bananas, sugar cane, beef, maize, plantains, milk

Industries

gold and diamond mining, logging, brewing, sugar refining

Industrial production growth rate

-0.24% (2021 est.)

Labor force

2.015 million (2021 est.)

Unemployment rate

6.57% (2021 est.)

6.36% (2020 est.)

5.62% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 11.8%

male: 10.6%

female: 13.1% (2021 est.)

Population below poverty line

62% (2008 est.) NA

Gini Index coefficient - distribution of family income

56.2 (2008 est.)

Household income or consumption by percentage share

lowest 10%: 2.1%

highest 10%: 33% (2003)

Budget

revenues: $418 million (2019 est.)

expenditures: $385 million (2019 est.)

Budget surplus (+) or deficit (-)

-0.9% (of GDP) (2017 est.)

Public debt

52.9% of GDP (2017 est.)

56% of GDP (2016 est.)

Taxes and other revenues

8.71% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$163 million (2017 est.)

-$97 million (2016 est.)

Exports

$113.7 million (2017 est.)

$101.5 million (2016 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

China 41%, United Arab Emirates 19%, France 7% (2019)

Exports - commodities

gold, lumber, diamonds, large construction vehicles, rum (2021)

Imports

$393.1 million (2017 est.)

$342.2 million (2016 est.)

Imports - partners

India 18%, France 12%, United States 11%, China 9%, Netherlands 7%, Belgium 7%, Malta 6% (2019)

Imports - commodities

refined petroleum, packaged medicines, natural gas, broadcasting equipment, second-hand clothing (2019)

Reserves of foreign exchange and gold

$350.305 million (31 December 2019 est.)

$361.797 million (31 December 2018 est.)

$362.717 million (31 December 2017 est.)

Debt - external

$779.9 million (31 December 2017 est.)

$691.5 million (31 December 2016 est.)

Exchange rates

Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -

554.531 (2021 est.)

575.586 (2020 est.)

585.911 (2019 est.)

555.446 (2018 est.)

580.657 (2017 est.)

NOTE: The information regarding Central African Republic on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Central African Republic 2023 information contained here. All suggestions for corrections of any errors about Central African Republic 2023 should be addressed to the CIA or the source cited on each page.