Chad

Economy - overview:
Chad’s primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. At least 80% of Chad’s population relies on subsistence farming and livestock raising for its livelihood. 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. Chinese companies are also expanding exploration efforts and plan to build a refinery. The nation’s total oil reserves have been estimated to be 1.5 billion barrels. Oil production came on stream in late 2003. Chad began to export oil in 2004. Cotton, cattle, and gum arabic provide the bulk of Chad’s non-oil export earnings.
GDP (purchasing power parity):
$16.26 billion (2008 est.)
$15.99 billion (2007)
$15.79 billion (2006)
GDP (official exchange rate):
$9.106 billion (2008 est.)
GDP - real growth rate:
1.7% (2008 est.)
1.3% (2007 est.)
0.2% (2006 est.)
GDP - per capita (PPP):
$1,600 (2008 est.)
$1,600 (2007 est.)
$1,600 (2006 est.)
GDP - composition by sector:
agriculture: 20.5%
industry: 48%
services: 31.5% (2008 est.)
Labor force:
3.747 million (2006)
Labor force - by occupation:
agriculture: 80% (subsistence farming, herding, and fishing)
industry and services: 20% (2006 est.)
Unemployment rate:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Investment (gross fixed):
8.5% of GDP (2008 est.)
Budget:
revenues: $2.142 billion
expenditures: $2.125 billion (2008 est.)
Inflation rate (consumer prices):
10% (2008 est.)
Central bank discount rate:
5.25% (31 December 2007)
Commercial bank prime lending rate:
15% (31 December 2007)
Stock of money:
$874.5 million (31 December 2007)
Stock of quasi money:
$55.23 million (31 December 2007)
Stock of domestic credit:
$82.81 million (31 December 2007)
Market value of publicly traded shares:
$NA
Agriculture - products:
cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels
Industries:
oil, cotton textiles, meatpacking, brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate:
2% (2008 est.)
Electricity - production:
95 million kWh (2006 est.)
Electricity - consumption:
88.35 million kWh (2006 est.)
Electricity - exports:
0 kWh (2007 est.)
Electricity - imports:
0 kWh (2007 est.)
Oil - production:
156,000 bbl/day (2008 est.)
Oil - consumption:
1,352 bbl/day (2006 est.)
Oil - exports:
176,700 bbl/day (2005)
Oil - imports:
1,492 bbl/day (2005)
Oil - proved reserves:
1.5 billion bbl (1 January 2008 est.)
Natural gas - production:
0 cu m (2007 est.)
Natural gas - consumption:
0 cu m (2007 est.)
Natural gas - exports:
0 cu m (2007 est.)
Natural gas - imports:
0 cu m (2007 est.)
Natural gas - proved reserves:
0 cu m (1 January 2006 est.)
Current account balance:
$527 million (2008 est.)
Exports:
$5.501 billion f.o.b. (2008 est.)
Exports - commodities:
oil, cattle, cotton, gum arabic
Exports - partners:
US 89.5%, Japan 3.7%, China 3.4% (2007)
Imports:
$1.47 billion f.o.b. (2008 est.)
Imports - commodities:
machinery and transportation equipment, industrial goods, foodstuffs, textiles
Imports - partners:
France 20.4%, Cameroon 16.1%, US 10.9%, China 10%, Germany 7.5%, Saudi Arabia 4.4% (2007)
Reserves of foreign exchange and gold:
$1.12 billion (31 December 2008 est.)
Debt - external:
$1.6 billion (2005 est.)
Stock of direct foreign investment - at home:
$4.5 billion (2006 est.)
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 447.81 (2008 est.), 480.1 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004)
note: since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par