Subsistence agriculture, including forestry, remains the backbone of
the CAR economy, with more than 70% of the population living in the
countryside. In 1990 the agricultural sector generated about 42% of
GDP. Timber accounted for about 26% of export earnings and the diamond
industry for 54%. 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.
National product:
GDP - purchasing power equivalent - $2.5 billion (1993 est.)
National product real growth rate:
-3% (1990 est.)
National product per capita:
$800 (1993 est.)
Inflation rate (consumer prices):
-3% (1990 est.)
Unemployment rate:
30% (1988 est.) in Bangui
Budget:
revenues:
$175 million
expenditures:
$312 million, including capital expenditures of $122 million (1991
est.)
Exports:
$123.5 million (f.o.b.1992)
commodities:
diamonds, cotton, coffee, timber, tobacco
partners:
France, Belgium, Italy, Japan, US
Imports:
$165.1 million (f.o.b.1992)
commodities:
food, textiles, petroleum products, machinery, electrical equipment,
motor vehicles, chemicals, pharmaceuticals, consumer goods, industrial
products
partners:
France, other EC countries, Japan, Algeria
External debt:
$859 million (1991)
Industrial production:
growth rate 4% (1990 est.); accounts for 14% of GDP
Electricity:
capacity:
40,000 kW
production:
95 million kWh
consumption per capita:
30 kWh (1991)
Industries:
diamond mining, sawmills, breweries, textiles, footwear, assembly of
bicycles and motorcycles
Agriculture:
accounts for 42% 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:
recipient:
US commitments, including Ex-Im (FY70-90), $52 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-90), $1.6
billion; OPEC bilateral aid (1979-89), $6 million; Communist countries
(1970-89), $38 million
Currency:
1 CFA franc (CFAF) = 100 centimes
Exchange rates:
Communaute Financiere Africaine francs (CFAF) per US$1 - 592.05
(January 1994), 283.16 (1993), 264.69 (1992), 282.11 (1991), 272.26
(1990), 319.01 (1989)
note:
beginni