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, bananas, taro, sugarcane, beef (2022).
More about the economy of Central African Republic
Labor force 2.114 million (2023 est.)
Industrial production growth rate -10.28% (2023 est.)
Industries gold and diamond mining, logging, brewing, sugar refining
Population below poverty line 68.8% (2021 est.)
Taxes and other revenues 8.21% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
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.)
Exchange rates 2019 585.911 (2019 est.)
Debt - external
Debt - external 31 December 2017 $779.9 million (31 December 2017 est.)
Debt - external 31 December 2016 $691.5 million (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $374.405 million (2022 est.)
Reserves of foreign exchange and gold 2021 $483.872 million (2021 est.)
Reserves of foreign exchange and gold 2020 $432.524 million (2020 est.)
Current account balance
Current account balance 2017 -$163 million (2017 est.)
Current account balance 2016 -$97 million (2016 est.)
Public debt
Public debt 2017 52.9% of GDP (2017 est.)
Budget
Revenues $418 million (2019 est.)
Expenditures $385 million (2019 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 2022 $784.669 million (2022 est.)
Imports 2021 $778.395 million (2021 est.)
Imports 2020 $799.195 million (2020 est.)
Imports (partners) Cameroon 28%, US 8%, China 7%, France 6%, South Korea 5% (2022)
Comodities Imports force refined petroleum, engines, aircraft, prefabricated buildings, packaged medicine (2022)
Exports
Imports 2022 $784.669 million (2022 est.)
Imports 2021 $778.395 million (2021 est.)
Imports 2020 $799.195 million (2020 est.)
Exports (partners) UAE 40%, Italy 11%, Pakistan 10%, China 10%, France 6% (2022)
Comodities Exports force gold, wood, diamonds, vehicle parts/accessories, electrical machinery (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $5.849 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $5.798 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $5.769 billion (2021 est.)
GDP (official exchange rate) $2.555 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $1,000 (2023 est.)
Real GDP per capita 2022 $1,000 (2022 est.)
Real GDP per capita 2021 $1,100 (2021 est.)
GDP - composition, by sector of origin
Agriculture 43.2% (2017 est.)
Industry 16% (2017 est.)
Services 40.8% (2017 est.)
GDP - composition, by end use
Household consumption 95.3% (2017 est.)
Government consumption 8.5% (2017 est.)
Investment in fixed capital 13.7% (2017 est.)
Investment in inventories 0% (2017 est.)
Exports of goods and services 12% (2017 est.)
Imports of goods and services -29.5% (2017 est.)
Unemployment rate
Unemployment rate 2023 6.29% (2023 est.)
Unemployment rate 2022 6.34% (2022 est.)
Unemployment rate 2021 6.68% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 10.7% (2023 est.)
Male 9.7% (2023 est.)
Female 11.8% (2023 est.)
All Important Facts about Central African Republic

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Central African Republic is found in Middle Africa