Chad Economy:
Chad's primarily agricultural economy will continue to be boosted by major oilfield and pipeline projects that began in 2000. Over 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. Cotton, cattle, and gum arabic provide the bulk of Chad's export earnings; Chad began to export oil in 2004. Chad's economy has long been handicapped by its landlocked position, high energy costs, and a history of instability. Chad relies on foreign assistance and foreign capital for most public and private sector investment projects. A consortium led by two US companies has been investing $3.7 billion to develop oil reserves estimated at 1 billion barrels in southern Chad. Oil production came on stream in late 2003.
GDP (purchasing power parity):
$15.66 billion (2004 est.)
GDP — real growth rate:
38% (2004 est.)
GDP — per capita:
purchasing power parity: $1,600 (2004 est.)
GDP — composition by sector:
agriculture: 22.6%
industry: 35.6%
services: 41.7%
(2004)
Labor force:
NA
Labor force — by occupation:
agriculture: more than 80% (subsistence farming, herding, and fishing)
Unemployment rate:
NA
Population below poverty line:
80% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
8% (2004 est.)
Investment (gross fixed):
24.7% of GDP (2004 est.)
Budget:
revenues: $1.13 billion
expenditures: $957.7 million including capital expenditures of $146 million (2004 est.)
Agriculture — products:
Cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels
Industries:
oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate:
5% (1995 est.)
Electricity — production:
96.13 million kWh (2002 est.)
Electricity — consumption:
89.4 million kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
Electricity — imports:
0 kWh (2002 est.)
Oil — production:
200,000 bbl/day (2004 est.)
Oil — consumption:
1,500 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Current account balance:
$330.2 million (2004 est.)
Exports:
$365 million (f.o.b. 2003 est.)
Exports — commodities:
cotton, cattle, gum arabic
Exports — partners:
US 67.8%, China 21.5%, Portugal 4.3% (2004)
Imports:
$500.7 million (f.o.b. 2004 est.)
Imports — commodities:
machinery and transportation equipment, industrial goods, petroleum products, foodstuffs, textiles
Imports — partners:
France 21.9%, Cameroon 16.1%, US 10.8%, Portugal 10.4%, Germany 6.4%, Belgium 4.6% (2004)
Reserves of foreign exchange and gold:
$652.7 million (2004 est.)
Debt — external:
$1.1 billion (2000 est.)
Economic aid — recipient:
$238.3 million (2001 est.)
note: $125 million committed by Taiwan (August 1997); $30 million committed by African Development Bank; ODA $150 million
Currency:
Communaute Financiere Africaine franc (XAF)
note: Responsible authority is the Bank of the Central African States
Exchange rates:
Communaute Financiere Africaine francs (XAF) per US$: 528.29 (2004 est.), 581.2 (2003 est.), 696.99 (2002 est.), 733.04 (2001 est.), 711.98 (2000 est.)
Fiscal year:
calendar year
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