Chad Economy - 2004

Economy - overview:
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 stock raising for its livelihood. Cotton, cattle, and gum arabic provide the bulk of Chad's export earnings, but Chad will begin 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 - $10.86 billion (2003 est.)

GDP - real growth rate:
15% (2003 est.)

GDP - per capita:
purchasing power parity - $1,200 (2003 est.)

GDP - composition by sector:
agriculture: 38%
industry: 13%
services: 49% (2001 est.)

Population below poverty line:
80% (2001 est.)

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

Inflation rate (consumer prices):
6% (2002 est.)

Labor force:
NA (2002)

Labor force - by occupation:
agriculture more than 80% (subsistence farming, herding, and fishing)

Unemployment rate:
NA% (2000)

Budget:
revenues: $198 million
expenditures: $218 million, including capital expenditures of $146 million (1998 est.)

Industries:
oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials

Industrial production growth rate:
5% (1995)

Electricity - production:
94.04 million kWh (2001)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
87.46 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
1,500 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

Agriculture - products:
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels

Exports:
$365 million f.o.b. (2003 est.)

Exports - commodities:
cotton, cattle, gum arabic

Exports - partners:
Portugal 30.3%, Germany 15.2%, US 9.1%, France 6.1%, Nigeria 6.1%, Spain 6.1%, Morocco 4.5%, Poland 4.5% (2002)

Imports:
$760 million f.o.b. (2003 est.)

Imports - commodities:
machinery and transportation equipment, industrial goods, petroleum products, foodstuffs, textiles

Imports - partners:
France 31.5%, US 31.3%, Germany 5.6%, Nigeria 4.7% (2002)

Debt - external:
$1.1 billion (2000 est.)

Economic aid - recipient:
$238.3 million; note - $125 million committed by Taiwan (August 1997); $30 million committed by African Development Bank; ODA $150 million (2001 est.)

Currency:
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States

Currency code:
XAF

Exchange rates:
Communaute Financiere Africaine francs (XAF) per US dollar - 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000), 615.7 (1999)