Economy
GDP (2000): $975,142,857.00; est. 2001: $1.052 billion.
Annual growth rate: 1.8% from 2001.
Per capita income (2000): $260
Avg. inflation rate (2001): 3.6%.
Natural resources: Diamonds, uranium, timber, gold, oil.
Agriculture (2002, 55.1% of GDP): Products--Timber, cotton, coffee, tobacco, foodcrops, livestock. Cultivated land--unavailable.
Industry (2002, 19.6% of GDP): Types--Diamond mining, sawmills, breweries, textiles, footwear, assembly of bicycles and motorcyles and soap. Services (2002): 25.3% of GDP.
Trade (2001): Exports--$144 million; diamonds, coffee, cotton, timber, tobacco. Major markets--Belgium, France, Luxembourg, Germany, Egypt, Spain, and Cote d'Ivoire. Imports--$131 million; food, textiles, petroleum products, machinery, electrical equipment, motor vehicles, chemicals, pharmaceuticals, consumer goods, industrial products. Major suppliers--France, Cote d'Ivoire, Cameroon, Germany, Japan.
Central government budget (2002): $226 million.
Defense (2002, 2.4% of budget): $5.4 million.
Fiscal year: Calendar year.
U.S. aid received (2001): $213,000 development assistance and IMET.

Central African Republic Economy
The Central African Republic is classified as one of the world's least developed countries, with an annual per capita income of $260 (2002). 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. Principal crops include cotton, food crops (cassava, yams, bananas, maize), coffee, and tobacco. In 2001, timber accounted for about 38% of export earnings. The country also has rich but largely unexploited natural resources in the form of diamonds, gold, uranium, and other minerals. There may be oil deposits along the country's northern border with Chad. Diamonds are the only of these mineral resources currently being developed; in 2001, reported sales of largely uncut diamonds made up close to 39% 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.

Much of the country's limited electrical supply is provided by hydroelectric plants based in Boali. Fuel supplies must be barged in via the Ubangui 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 650 kilometers of paved road, limited international, and no domestic air service (except charters), and does not possess a railroad. Commercial traffic on the Ubangui River is impossible from December to May or June, 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.

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. 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 C.A.R. Government has adopted the CEMAC Charter of Investment, and is in the process of adopting a new labor code.
source: http://www.state.gov