f the blue band

- Economy
Overview: The Central African Republic (CAR) is one of the poorest
countries in Africa, with a per capita income of roughly $450 in 1988.
Subsistence agriculture, including forestry, is the backbone of the economy,
with over 70% of the population living in the countryside. In 1988 the
agricultural sector generated about 40% of GDP, mining and manufacturing 14%,
utilities and construction 4%, and services 41%. Agricultural products accounted
for about 60% of export earnings and the diamond industry for 30%. Important
constraints to economic development include the CAR's landlocked position, a
poor transportation infrastructure, and a weak human resource base. Multilateral
and bilateral development assistance plays a major role in providing capital
for new investment.

GDP: $1.27 billion, per capita $453; real growth rate 2.0%
(1988 est.)

Inflation rate (consumer prices): - 4.2% (1988 est.)

Unemployment rate: 30% in Bangui (1988 est.)

Budget: revenues $132 million; current expenditures $305 million,
including capital expenditures of $NA million (1989 est.)

Exports: $138 million (f.o.b., 1988 est.);
commodities--diamonds, cotton, coffee, timber, tobacco;
partners--France, Belgium, Italy, Japan, US

Imports: $285 million (c.i.f., 1988 est.);
commodities--food, textiles, petroleum products, machinery, electrical
equipment, motor vehicles, chemicals, pharmaceuticals, consumer goods,
industrial products;
partners--France, other EC, Japan, Algeria, Yugoslavia

External debt: $660 million (December 1989)

Industrial production: 1.9% (1987 est.)

Electricity: 35,000 kW capacity; 84 million kWh produced,
30 kWh per capita (1989)

Industries: sawmills, breweries, diamond mining, 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

Aid: US commitments, including Ex-Im (FY70-88), $44 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.3 billion;
OPEC bilateral aid (1979-89), $6 million; Communist countries (1970-88),
$38 million

Currency: Communaute Financiere Africaine franc (plural--francs);
1 CFA franc (CFAF) = 100 centimes

Exchange rates: Communaute Financiere Africaine francs (CFAF) per
US$1--287.99 (January 1990), 319.01 (1989), 297.85 (1988), 300.54