Chad Economy 1997

Economy - overview Unfavorable climate, geographic remoteness, poor resource endowment,and lack of infrastructure make Chad one of the most underdeveloped countriesin the world. Its economy is hobbled by political turmoil, drought, and foodshortages. Consequently the economy has shown little progress in recent yearsin overcoming a severe setback brought on by civil war in the late 1980s.About 85% of the work force is involved in subsistence farming and fishing.Cotton is the major cash crop, accounting for at least half of exports. Chadis highly dependent on foreign aid, especially food credits, given chronicfood shortages in several regions. Of all the Francophone countries in Africa,Chad has benefited the least from the 50% devaluation of their currencieson 12 January 1994. Despite an increase in external financial aid and priceincreases for cotton - the primary source of foreign exchange - the corruptand enfeebled government bureaucracy continues to postpone payment of publicsector salaries and to dampen economic enterprise by neglecting payments todomestic suppliers. The devaluation resulted in stepped-up inflation of 41%in 1994; inflation fell to 9% in 1995 but it remains high compared with otherFrancophone countries. In one favorable development, Chad in December 1996concluded an agreement with ESSO/Chad (EXXON) for drilling and extractingpetroleum at Doba. Oil will be piped through Cameroon for export.

GDP purchasing power parity - $3.3 billion (1995 est.)

GDP - real growth rate 2.6% (1995 est.)

GDP - per capita purchasing power parity - $600 (1995 est.)

GDP - composition by sector
agriculture: 48%
industry: 18%
services : 34% (1995 est.)

Inflation rate - consumer price index 9% (1995 est.)

Labor force NA
by occupation : agriculture 85% (subsistence farming, herding, and fishing)

Unemployment rate NA%

Budget
revenues : $136 million
expenditures: $222 million, including capital expenditures of $107 million (1994 est.)

Industries cotton textiles, meat packing, beer brewing, natron (sodium carbonate),soap, cigarettes, construction materials

Industrial production growth rate NA%

Electricity - capacity 40,000 kW (1991)

Electricity - production 70 million kWh (1991)

Electricity - consumption per capita 14 kWh (1991 est.)

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

Exports
total value: $226 million (f.o.b., 1995)
commodities: cotton, cattle, textiles, fish
partners : Portugal 30%, Germany 18%, South Africa 16%, France 7%

Imports
total value: $225 million (f.o.b., 1995 est.)
commodities: machinery and transportation equipment 39%, industrial goods 20%, petroleumproducts 13%, foodstuffs 9%; textiles; note - excludes military equipment
partners: France 34%, Cameroon 24%, Nigeria 7%, US 6%

Debt - external $875 million (1995 est.)

Economic aid
recipient: ODA, $NA

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

Exchange rates CFA Francs (CFAF) per US$1 - 541.69 (January 1997), 511.55 (1996), 499.15(1995), 555.20 (1994), 283.16 (1993), 264.69 (1992)
note: beginning 12 January 1994 the CFA franc was devalued to CFAF 100 perFrench franc from CFAF 50 at which it had been fixed since 1948

Fiscal year calendar year

NOTE: The information regarding Chad on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chad Economy 1997 information contained here. All suggestions for corrections of any errors about Chad Economy 1997 should be addressed to the CIA.