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Chad: Economy#

Chad’s landlocked location results in high transportation costs for imported goods and dependence on neighboring countries. Oil and agriculture are mainstays of Chad’s economy. Oil provides about 60% of export revenues, while cotton, cattle, livestock, and gum arabic provide the bulk of Chad's non-oil export earnings. The services sector contributes about one-third of GDP and has attracted foreign investment mostly through telecommunications and banking.

Nearly all of Chad’s fuel is provided by one domestic refinery, and unanticipated shutdowns occasionally result in shortages. The country regulates the price of domestic fuel, providing an incentive for black market sales.

Chad’s fiscal position is encumbered by declining oil prices, though high oil prices and strong local harvests supported the economy in recent years. Chad relies on foreign assistance and foreign capital for much public and private sector investment. Chad's investment climate remains challenging due to limited infrastructure, a lack of trained workers, extensive government bureaucracy, and corruption. Chad obtained a three-year extended credit facility from the IMF in 2014 and was granted debt relief under the Heavily Indebted Poor Countries Initiative in April 2015.

Economic Facts#

GDP (purchasing power parity)$30.59 billion (2016 est.)
$30.93 billion (2015 est.)
$30.39 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$10.44 billion (2015 est.)
GDP - real growth rate-1.1% (2016 est.)
1.8% (2015 est.)
6.9% (2014 est.)
GDP - per capita (PPP)$2,600 (2016 est.)
$2,700 (2015 est.)
$2,700 (2014 est.)
note: data are in 2016 dollars
Gross national saving18.4% of GDP (2016 est.)
14.6% of GDP (2015 est.)
21.5% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 71.4%
government consumption: 4.4%
investment in fixed capital: 30.8%
investment in inventories: 0.4%
exports of goods and services: 25.3%
imports of goods and services: -32.3% (2016 est.)
GDP - composition, by sector of originagriculture: 53%
industry: 12.8%
services: 34.2% (2016 est.)
Agriculture - productscotton, sorghum, millet, peanuts, sesame, corn, rice, potatoes, onions, cassava (manioc, tapioca), cattle, sheep, goats, camels
Industriesoil, cotton textiles, brewing, natron (sodium carbonate), soap, cigarettes, construction materials
Industrial production growth rate-5% (2016 est.)
Labor force5.457 million (2016 est.)
Labor force - by occupationagriculture: 80%
industry and services: 20% (2006 est.)
Unemployment rateNA%
Population below poverty line46.7% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 2.6%
highest 10%: 30.8% (2003)
Distribution of family income - Gini index43.3 (2011 est.)
Budgetrevenues: $1.626 billion
expenditures: $2.163 billion (2016 est.)
Taxes and other revenues15.6% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-5.1% of GDP (2016 est.)
Public debt35.4% of GDP (2016 est.)
33.5% of GDP (2015 est.)
Fiscal yearcalendar year
Inflation rate (consumer prices)3.8% (2016 est.)
4.6% (2015 est.)
Central bank discount rate4.25% (31 December 2009)
4.75% (31 December 2008)
Commercial bank prime lending rate15.5% (31 December 2016 est.)
15.5% (31 December 2015 est.)
Stock of narrow money$1.741 billion (31 December 2016 est.)
$1.604 billion (31 December 2015 est.)
Stock of broad money$1.976 billion (31 December 2014 est.)
$1.751 billion (31 December 2013 est.)
Stock of domestic credit$1.324 billion (31 December 2016 est.)
$1.034 billion (31 December 2015 est.)
Market value of publicly traded shares$NA
Current account balance-$907 million (2016 est.)
-$1.353 billion (2015 est.)
Exports$4.053 billion (2016 est.)
$3.965 billion (2015 est.)
Exports - commoditiesoil, livestock, cotton, sesame, gum arabic, shea butter
Exports - partnersUS 58.5%, India 13.3%, Japan 11.3%, China 4.1% (2015)
Imports$3.075 billion (2016 est.)
$3.071 billion (2015 est.)
Imports - commoditiesmachinery and transportation equipment, industrial goods, foodstuffs, textiles
Imports - partnersFrance 16.5%, China 14.2%, Cameroon 11%, US 6.4%, India 6%, Belgium 5.7%, Italy 4.8% (2015)
Reserves of foreign exchange and gold$627.5 million (31 December 2016 est.)
$382.9 million (31 December 2015 est.)
Debt - external$1.875 billion (31 December 2016 est.)
$2.802 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$NA (31 December 2010)
$4.5 billion (2006 est.)
Stock of direct foreign investment - abroad$NA
Exchange ratesCooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
605.7 (2016 est.)
591.45 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)
510.53 (2012 est.)