Flag:
four equal horizontal bands of blue (top), white, green, and yellow with a
vertical red band in center; there is a yellow five-pointed star on the
hoist side of the blue band

:Central African Republic Economy

Overview:
Subsistence agriculture, including forestry, is the backbone of the CAR
economy, with more than 70% of the population living in the countryside. In
1988 the agricultural sector generated about 40% of GDP. Agricultural
products accounted for about 60% of export earnings and the diamond industry
for 30%. The country's 1991 budget deficit was US $70 million and in 1992 is
expected to be about the same. Important constraints to economic development
include the CAR's landlocked position, a poor transportation system, and a
weak human resource base. Multilateral and bilateral development assistance,
particularly from France, plays a major role in providing capital for new
investment.
GDP:
exchange rate conversion - $1.3 billion, per capita $440; real growth rate -
3.0% (1990 est.)
Inflation rate (consumer prices):
-3.0% (1990 est.)
Unemployment rate:
30% in Bangui (1988 est.)
Budget:
revenues $121 million; expenditures $193 million, including capital
expenditures of $NA million (1991 est.)
Exports:
$151.3 million (1990 est.)
commodities:
diamonds, cotton, coffee, timber, tobacco
partners:
France, Belgium, Italy, Japan, US
Imports:
$214.5 million (1990 est.)
commodities:
food, textiles, petroleum products, machinery, electrical equipment, motor
vehicles, chemicals, pharmaceuticals, consumer goods, industrial products
partners:
France, other EC countries, Japan, Algeria, Yugoslavia
External debt:
$700 million (1990 est.)
Industrial production:
0.8% (1988); accounts for 12% of GDP
Electricity:
40,000 kW capacity; 95 million kWh produced, 30 kWh per capita (1991)
Industries:
diamond mining, sawmills, breweries, 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
Economic aid:
US commitments, including Ex-Im (FY70-89), $49 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $1.5 billion; OPEC
bilateral aid (197