Central African Republic - Economy
How is the economy of Central African Republic? Based on the information we have, Central African Republic has a 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. Key agricultural products in this country include: cassava, groundnuts, yams, coffee, maize, sesame seeds, taro, sugarcane, beef, milk (2023).
More about the economy of Central African Republic
Labor force 2 million (2024 est.)
Industrial production growth rate 9.7% (2024 est.)
Industries gold and diamond mining, logging, brewing, sugar refining
Population below poverty line 68.8% (2021 est.)
Taxes and other revenues 8.2% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2024 606.345 (2024 est.)
Exchange rates 2023 606.57 (2023 est.)
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Debt - external
Debt - external 2023 $724.179 million (2023 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $479.593 million (2023 est.)
Reserves of foreign exchange and gold 2022 $374.405 million (2022 est.)
Reserves of foreign exchange and gold 2021 $483.872 million (2021 est.)
Public debt
Public debt 2016 56% of GDP (2016 est.)
Budget
Revenues $360.48 million (2021 est.)
Expenditures $462.104 million (2021 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0% of GDP (2023 est.)
Remittances 2022 0% of GDP (2022 est.)
Remittances 2021 0% of GDP (2021 est.)
Household income
Lowest 10% 2.1% (2021 est.)
Highest 10% 33.1% (2021 est.)
Imports
Imports 2024 $890.572 million (2024 est.)
Imports 2023 $742.108 million (2023 est.)
Imports 2022 $784.669 million (2022 est.)
Imports (partners) China 16%, Cameroon 14%, France 8%, Belgium 6%, Cote d'Ivoire 5% (2023)
Comodities Imports force refined petroleum, cars, packaged medicine, vaccines, tanks and armored vehicles (2023)
Exports
Imports 2024 $890.572 million (2024 est.)
Imports 2023 $742.108 million (2023 est.)
Imports 2022 $784.669 million (2022 est.)
Exports (partners) UAE 54%, China 14%, France 6%, Turkey 5%, Belgium 4% (2023)
Comodities Exports force gold, wood, diamonds, vehicle parts/accessories, cotton (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $5.926 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $5.836 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $5.795 billion (2022 est.)
GDP (official exchange rate) $2.752 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $1,100 (2024 est.)
Real GDP per capita 2023 $1,100 (2023 est.)
Real GDP per capita 2022 $1,100 (2022 est.)
GDP - composition, by sector of origin
Agriculture 32.5% (2024 est.)
Industry 17.8% (2024 est.)
Services 40.5% (2024 est.)
GDP - composition, by end use
Household consumption 94.7% (2024 est.)
Government consumption 9.7% (2024 est.)
Investment in fixed capital 15.4% (2024 est.)
Investment in inventories 0% (2024 est.)
Exports of goods and services 15.5% (2024 est.)
Imports of goods and services -32.4% (2024 est.)
Unemployment rate
Unemployment rate 2024 5.9% (2024 est.)
Unemployment rate 2023 5.9% (2023 est.)
Unemployment rate 2022 6% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 9.5% (2024 est.)
Male 8.5% (2024 est.)
Female 10.6% (2024 est.)
All Important Facts about Central African Republic

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Central African Republic is found in Middle Africa