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Encyclopedia > Economy of the Central African Republic

Economic Overview

The economy of the Central African Republic is dominated by the cultivation and sale of foodcrops such as yams, cassava, peanuts, maize, sorghum, millet, sesame and plantains. The importance of foodcrops over exported cash crops is illustrated by the fact that the total production of cassava, the staple food of most Central Africans, ranges between c. 200,000 and 300,000 tons a year, while the production of cotton, the principal exported cash crop, ranges from c. 25,000 to 45,000 tons a year. Foodcrops are not exported in large quantities but they still constitute the principal cash crops of the country because Central Africans derive far more income from the periodic sale of surplus foodcrops than from exported cash crops such as cotton or coffee. Many rural and urban women also transform some foodcrops into alcoholic drinks such as sorghum beer or hard liquor and derive considerable income from the sale of these drinks. Much of the income derived from the sale of foods and alcohol is not "on the books" and thus is not considered in calculating per capita income, which is one reason why official figures for per capita income are not accurate in the case of the CAR. The per capita income of the CAR is often listed as being around $300 a year, said to be one of the lowest in the world, but this figure is based mostly on reported sales of exports and largely ignores the more important but unregistered sale of foods, locally-produced alcohol, diamonds, ivory, bushmeat, and traditional medicines, for example. The informal economy of the CAR is more important than the formal economy for most Central Africans. Yams at Brixton market For the term yam as used in the United States, see sweet potato. ... Binomial name Manihot esculenta Crantz The cassava, casava, or manioc (Manihot esculenta) is a woody shrub of the Euphorbiaceae (spurge family) native to South America that is extensively cultivated as an annual crop in tropical and subtropical regions for its edible starchy tuberous root, a major source of carbohydrate. ... Binomial name Arachis hypogaea L. The peanut, or groundnut (Arachis hypogaea) is a species in the legume family Fabaceae native to South America. ... “Corn” redirects here. ... Species About 30 species, see text Sorghum is a genus of about 30 species of grasses raised for grain, native to tropical and subtropical regions of Eastern Africa, with one species native to Mexico. ... Pearl millet in the field The millets are a group of small-seeded species of cereal crops, widely grown around the world for food and fodder. ... Binomial name Sesamum indicum L. Sesame (Sesamum indicum) is a flowering plant in the genus Sesamum. ... Species Musa × paradisiaca A big load of plantains in Masaya, Nicaragua Cooking plantains (pronounced plan-TENZ or plan-TAINZ) are a kind of plantains that are generally used for cooking, as contrasted with the soft, sweet banana varieties (which are sometimes called dessert bananas). ... In agriculture, a cash crop is a crop which is sold for money. ... Cotton ready for harvest. ... A cup of coffee Workers sorting and pulping coffee beans in Guatemala Coffee is a widely consumed beverage prepared from the roasted seeds — commonly referred to as beans — of the coffee plant. ... Alcoholic beverages are drinks containing ethanol, popularly called alcohol. ... Various distilled beverages in a Spanish bar A distilled beverage, also called spirits or liquor, is a preparation for consumption containing ethyl alcohol purified by distillation from a fermented substance such as wine, malt, or grain. ... The per capita income for a group of people may be defined as their total personal income, divided by the total population. ... This article is about the gemstone. ... This article or section does not cite its references or sources. ... This article or section does not cite any references or sources. ... The term traditional medicine is used with two main meanings. ...


Diamonds constitute the most important export of the CAR, frequently accounting for 40-55% of export revenues, but an estimated 30-50% of the diamonds produced each year leave the country clandestinely. Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ...


The CAR is heavily dependent upon multilateral foreign aid and the presence of numerous NGO's which provide numerous services which the government fails to provide. As one UNDP official put it, the CAR is a country "sous serum," or a country hooked up to an IV. (Mehler 2005:150) The very presence of numerous foreign personnel and organizations in the country, including peacekeepers and even refugee camps, provides an important source of revenue for many Central Africans. NGO is an abbreviation or code for: Non-governmental organization Nagoya Airport (IATA code) This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... The United Nations Development Programme (UNDP) is the largest multilateral source of grant technical assistance in the world. ... IV may refer to: The Roman number for four — meaning one (I) less than five (V). ... Refugee camp for Rwandans located in what is now the eastern Democratic Republic of Congo following the Rwandan Genocide A refugee camp is a temporary camp built up by governments or NGOs (such as the ICRC) to receive refugees. ...


The Central African Republic is classified as one of the world's least developed countries, with an estimated annual per capita income of $310 (2000). Sparsely populated and landlocked, the nation is overwhelmingly agrarian, with the vast bulk of the population engaged in subsistence farming and 55% of the country's GDP arising from agriculture. Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with more than 70% of the population living in outlying areas. The agricultural sector generates half of GDP. Principal foodcrops include cassava, peanuts, sorghum, millet, maize, sesame, and plantainss. Principal cash crops for export include cotton, coffee, and tobacco. Timber has accounted for about 16% of export earnings and the diamond industry for nearly 54%. A landlocked country is one that has no coastline. ... Like most farmers in Sub-Saharan Africa, this Cameroonian man cultivates at the subsistence level. ... Binomial name Manihot esculenta Crantz The cassava, casava, or manioc (Manihot esculenta) is a woody shrub of the Euphorbiaceae (spurge family) native to South America that is extensively cultivated as an annual crop in tropical and subtropical regions for its edible starchy tuberous root, a major source of carbohydrate. ... Peanuts is a syndicated daily and Sunday comic strip written and illustrated by Charles M. Schulz, which ran from October 2, 1950, to February 13, 2000 (the day after Schulzs death). ... Species About 30 species, see text Sorghum is a genus of about 30 species of grasses raised for grain, native to tropical and subtropical regions of Eastern Africa, with one species native to Mexico. ... Pearl millet in the field The millets are a group of small-seeded species of cereal crops, widely grown around the world for food and fodder. ... “Corn” redirects here. ... Binomial name Sesamum indicum L. Sesame (Sesamum indicum) is a flowering plant in the genus Sesamum. ... Plantain is the common name for two very different plants. ... Cotton ready for harvest. ... A cup of coffee Workers sorting and pulping coffee beans in Guatemala Coffee is a widely consumed beverage prepared from the roasted seeds — commonly referred to as beans — of the coffee plant. ... This article is about the product manufactured from Tobacco plants (Nicotiana spp. ... Timber in storage for later processing at a sawmill Timber is a term used to describe wood, either standing or that has been processed for use—from the time trees are felled, to its end product as a material suitable for industrial use—as structural material for construction or wood...


The country also has rich but largely unexploited natural resources in the form of diamonds, gold, uranium, and other minerals. There may be petroleum deposits along the country's northern border with Chad. Diamonds are the only of these mineral resources currently being developed; reported sales of largely uncut diamonds make up close to 60% of the CAR's export earnings. Industry contributes less than 20% of the country's GDP, with artesian diamond mining, breweries, and sawmills making up the bulk of the sector. Services currently account for 25% of GDP, largely because of the oversized government bureaucracy and high transportation costs arising from the country's landlocked position. This article is about the gemstone. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... General Name, Symbol, Number uranium, U, 92 Chemical series actinides Group, Period, Block n/a, 7, f Appearance silvery gray metallic; corrodes to a spalling black oxide coat in air Standard atomic weight 238. ... Minerals are natural compounds formed through geological processes. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... A brewery is a facility that produces beer. ... A sawmill is a facility where logs are cut into boards. ... The Politics series Politics Portal This box:      Bureaucracy is a concept in sociology and political science referring to the way that the administrative execution and enforcement of legal rules are socially organized. ...


Much of the country's limited electrical supply is provided by hydroelectric plants based in Boali. Fuel supplies must be barged in via the Oubangui River or trucked overland through Cameroon, resulting in frequent shortages of gasoline, diesel, and jet fuel. The C.A.R.'s transportation and communication network is limited. The country has only 429 kilometers of paved road, limited international, and no domestic air service, and does not possess a railroad. River traffic on the Oubangui River is impossible from April to July, and conflict in the region has sometimes prevented shipments from moving between Kinshasa and Bangui. The telephone system functions, albeit imperfectly. Four radio stations currently operate in the C.A.R., as well as one television station. Numerous newspapers and pamphlets are published on a regular basis, and one company has begun providing Internet service. Lightning strikes during a night-time thunderstorm. ... Hydroelectric dam diagram The waters of Llyn Stwlan, the upper reservoir of the Ffestiniog Pumped-Storage Scheme in north Wales, can just be glimpsed on the right. ... Boali is a town located in the Central African Republic prefecture of Ombella-MPoko. ... Gasoline or petrol is a petroleum-derived liquid mixture consisting mostly of hydrocarbons and enhanced with benzene or iso-octane to increase octane ratings, used as fuel in internal combustion engines. ... Rudolf Christian Karl Diesel (1858-1913), inventor of the diesel engine. ... Jet fuel is a type of aviation fuel designed for use in jet-engined aircraft. ... Communication allows people to exchange thoughts by one of several methods. ... This is the top-level page of WikiProject trains Rail tracks Rail transport refers to the land transport of passengers and goods along railways or railroads. ... Kinshasa (formerly Léopoldville or, before 1960, also Leopoldstad) is the capital and largest city of the Democratic Republic of the Congo. ... Bangui is the capital of and the largest city in the Central African Republic. ... The telephone is a telecommunications device which is used to transmit and receive sound (most commonly speech) across distance. ... A radio station is an audio (sound) broadcasting service, traditionally broadcast through the air as radio waves (a form of electromagnetic radiation) from a transmitter to an antenna and a thus to a receiving device. ... A television station is a type of broadcast station that broadcasts both audio and video to television receivers in a particular area. ... “ISP” redirects here. ...


In the 40 years since independence, the C.A.R. has made slow progress toward economic development. Economic mismanagement, poor infrastructure, a limited tax base, scarce private investment, and adverse external conditions have led to deficits in both its budget and external trade. Its debt burden is considerable, and the country has seen a decline in per capita GNP over the last 30 years. Important constraints to economic development include the CAR's landlocked position, a poor transportation system, a largely unskilled work force, and a legacy of misdirected macroeconomic policies. The 50% devaluation of the currencies of 14 Francophone African nations on 12 January 1994 had mixed effects on the CAR's economy. Diamond, timber, coffee, and cotton exports increased, leading an estimated rise of GDP of 7% in 1994 and nearly 5% in 1995. Military rebellions and social unrest in 1996 were accompanied by widespread destruction of property and a drop in GDP of 2%. Ongoing violence between the government and rebel military groups over pay issues, living conditions, and political representation has destroyed many businesses in the capital and reduced tax revenues for the government. Budget generally refers to a list of all planned expenses and revenues. ... This article or section does not adequately cite its references or sources. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... This article does not cite its references or sources. ... Devaluation is a reduction in the value of a currency with respect to other monetary units. ... January 12 is the 12th day of the year in the Gregorian calendar. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ...


The IMF approved an Extended Structure Adjustment Facility in 1998. The government has set targets of annual 5% growth and 2.5% inflation for 2000-2001. Structural adjustment programs with the World Bank and IMF and interest-free credits to support investments in the agriculture, livestock, and transportation sectors have had limited impact. The World Bank and IMF are now encouraging the government to concentrate exclusively on implementing much-needed economic reforms to jump-start the economy and defining its fundamental priorities with the aim of alleviating poverty. As a result, many of the state-owned business entities have been privatized and limited efforts have been made to standardize and simplify labor and investment codes and to address problems of corruption. The Central African Government is currently in the process of adopting new labor and investment codes. The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means... Sheep are commonly bred as livestock. ...


GDP: purchasing power parity - $5.8 billion (1999 est.)


GDP - real growth rate: 5% (1999 est.)


GDP - per capita: purchasing power parity - $1,700 (1999 est.)


GDP - composition by sector:
agriculture: 53%
industry: 21%
services: 26% (1997 est.)


Population below poverty line: NA%


Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%


Inflation rate (consumer prices): 2.6% (1999 est.)


Labor force: NA


Unemployment rate: 6% (1993)


Budget:
revenues: $638 million
expenditures: $1.9 billion, including capital expenditures of $888 million (1994 est.)


Industries: diamond mining, sawmills, breweries, textiles, footwear, assembly of bicycles and motorcycles This article is about the gemstone. ...


Industrial production growth rate: NA%


Electricity - production: 105 GWh (1998)


Electricity - production by source:
fossil fuel: 19.05%
hydro: 80.95%
nuclear: 0%
other: 0% (1998)


Electricity - consumption: 98 GWh (1998)


Electricity - exports: 0 kWh (1998)


Electricity - imports: 0 kWh (1998)


Agriculture - products: cotton, coffee, tobacco, manioc (tapioca), yams, millet, maize, bananas; timber Cotton ready for harvest. ... A cup of coffee Workers sorting and pulping coffee beans in Guatemala Coffee is a widely consumed beverage prepared from the roasted seeds — commonly referred to as beans — of the coffee plant. ... This article is about the product manufactured from Tobacco plants (Nicotiana spp. ... Binomial name Manihot esculenta Crantz Cassava or manioc (Manihot esculenta; also yuca in Spanish, and mandioca, aipim, or macaxera in Portuguese) is a woody perennial shrub of the spurge family, that is extensively cultivated as an annual crop for its edible starchy tuberous root. ... Tapioca is an essentially flavourless starchy ingredient, or fecula, produced from treated and dried cassava (manioc) root and used in cooking. ... Yams at Brixton market For the term yam as used in the United States, see sweet potato. ... Pearl millet in the field The millets are a group of small-seeded species of cereal crops, widely grown around the world for food and fodder. ... “Corn” redirects here. ... This article or section does not cite its references or sources. ...


Exports: $195 million (f.o.b., 1999)


Exports - commodities: diamonds, timber, cotton, coffee, tobacco This article is about the gemstone. ... Cotton ready for harvest. ... A cup of coffee Workers sorting and pulping coffee beans in Guatemala Coffee is a widely consumed beverage prepared from the roasted seeds — commonly referred to as beans — of the coffee plant. ... This article is about the product manufactured from Tobacco plants (Nicotiana spp. ...


Exports - partners: Benelux 36%, Côte d'Ivoire 5%, Spain 4%, Egypt 3%, France (1997) Satellite image of the Benelux countries Belgium Netherlands Luxembourg Benelux Benelux (or Bénélux) is an economic union in Western Europe comprising three neighbouring monarchies, Belgium, the Netherlands, and Luxembourg. ...


Imports: $170 million (f.o.b., 1999)


Imports - commodities: food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals, consumer goods, industrial products


Imports - partners: France 30%, Côte d'Ivoire 18%, Cameroon 11%, Germany 4%, Japan (1997)


Debt - external: $790 million (1999 est.)


Economic aid - recipient: $172.2 million (1995); note - traditional budget subsidies from France


Currency: 1 Communaute Financiere Africaine franc (CFAF) = 100 centimes


Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1 - 647.25 (January 2000), 615.70 (1999), 589.95 (1998), 583.67 (1997), 511.55 (1996), 499.15 (1995)
note: since 1 January 1999, the CFAF is pegged to the euro at a rate of 655.957 CFA francs per euro January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ...


Fiscal year: calendar year


See also


  Results from FactBites:
 
Central African Republic (1645 words)
Central African Republic, republic in central Africa, bordered on the north by Chad, on the east by Sudan, on the south by the Democratic Republic of the Congo (DRC, formerly Zaire) and the Republic of the Congo, and on the west by Cameroon.
The Central African Republic is situated on the northern edge of the Congo River Basin.
The population of the Central African Republic was determined by the census of 1975 to be 2,054,610; the 1997 estimated population was 3,308,198.
Economy of the Central African Republic - Wikipedia, the free encyclopedia (1336 words)
The economy of the Central African Republic is dominated by the cultivation and sale of foodcrops such as yams, cassava, peanuts, maize, sorghum, millet, sesame and plantains.
Sparsely populated and landlocked, the nation is overwhelmingly agrarian, with the vast bulk of the population engaged in subsistence farming and 55% of the country's GDP arising from agriculture.
Central African Republic · Chad · Comoros · Democratic Republic of the Congo · Republic of the Congo · Côte d'Ivoire (Ivory Coast) · Djibouti · Egypt · Equatorial Guinea · Eritrea · Ethiopia · Gabon · The Gambia · Ghana · Guinea · Guinea-Bissau · Kenya · Lesotho · Liberia · Libya · Madagascar · Malawi · Mali · Mauritania · Mauritius · Morocco · Mozambique · Namibia · Niger · Nigeria · Rwanda · São Tomé and Príncipe · Senegal · Seychelles · Sierra Leone · Somalia · South Africa · Sudan · Swaziland · Tanzania · Togo · Tunisia · Uganda · Zambia · Zimbabwe
  More results at FactBites »

 
 

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