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Central African Republic Economy 2013
http://www.theodora.com/wfbcurrent/central_african_republic/central_african_republic_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 14, 2013

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 and diamonds account for most export earnings, followed by cotton. 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. 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 election in 2011 worsened CAR's fiscal situation. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. 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 2012-2015 praised improvements in revenue collection but warned of weak management of spending.

GDP (purchasing power parity):
$3.847 billion (2012 est.)
country comparison to the world: 174

$3.695 billion (2011 est.)
$3.578 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.168 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2012 est.)
country comparison to the world: 80

3.3% (2011 est.)
3% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$800 (2012 est.)
country comparison to the world: 222

$800 (2011 est.)
$800 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 56.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 14.9%
services: 28.8% (2012 est.)

Labor force:
1.926 million (2007)
country comparison to the world: 123
[see also: Labor force country ranks ]

Unemployment rate:
8% (2001 est.)
country comparison to the world: 94
note: 23% unemployment in Bangui
[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)

Distribution of family income - Gini index:
61.3 (1993)
country comparison to the world: 6
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $335.1 million
[see also: Budget revenues country ranks ]
expenditures: $352.2 million (2012 est.)

Taxes and other revenues:
15.5% of GDP (2012 est.)
country comparison to the world: 187
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.8% of GDP (2012 est.)
country comparison to the world: 54
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
5.5% (2012 est.)
country comparison to the world: 150

0.1% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 78

4.75% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2012 est.)
country comparison to the world: 45

15% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$372.8 million (31 December 2012 est.)
country comparison to the world: 166

$329.7 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$459.7 million (31 December 2012 est.)
country comparison to the world: 178

$406.6 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$510.6 million (31 December 2012 est.)
country comparison to the world: 171

$444.7 million (31 December 2011 est.)
[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 ]

Agriculture - products:
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: 99
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$179.5 million (2012 est.)
country comparison to the world: 75

-$191.4 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$198.5 million (2012 est.)
country comparison to the world: 186

$186.3 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
diamonds, timber, cotton, coffee, tobacco

Exports - partners:
Belgium 30.4%, China 17.1%, Democratic Republic of the Congo 7.9%, France 7.1%, Indonesia 6.3%, Morocco 5.3% (2011)

Imports:
$341.2 million (2012 est.)
country comparison to the world: 195

$319.8 million (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
South Korea 45.8%, Netherlands 8.8%, France 7.2%, Cameroon 5.1% (2011)

Debt - external:
$469.5 million (31 December 2012 est.)
country comparison to the world: 172

$404.4 million (31 December 2011 est.)
[see also: Debt - external country ranks ]

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

514.1 (2012 est.)
471.87 (2011 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Central African Republic on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Central African Republic Economy 2013 information contained here. All suggestions for corrections of any errors about Central African Republic Economy 2013 should be addressed to the CIA.


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