Business
Self-sufficiency agriculture, tropical timber felling and diamond mining are the economic foundations of the Central African Republic. In terms of gross national income (GNI) per capita of US $ 390 (2017), the Central African Republic is one of the poorest countries in Africa. The unstable political situation, increasing mismanagement and the inadequate transport options of the landlocked state not only hamper economic development, but also threaten the existential supply of large sections of the population. The unemployment rate has been estimated at around 8% in recent years, but it is much higher in the greater Bangui area at 23%. Visit sunglasseswill for Central Africa Economy.
Foreign trade: The foreign trade balance has been mostly negative since 1980, in 2015 the import value was 149.9 billion CFA francs, the export value was 58.8 billion CFA francs. The most important export goods are diamonds and gold, wood and cotton. Machinery and means of transport as well as food and pharmaceuticals account for a large share of the imports. The main trading partners are France, South Korea, the Democratic Republic of the Congo and China.
Agriculture
The agricultural sector, which (2014) contributed 58.2% to the creation of the gross domestic product (GDP), employs almost two thirds of the workforce. Only 3% of the land area is used as arable land, another 5% as pasture land. While peanut cultivation dominates in the northeast, the staple foods cassava, yams, maize and millet are mainly grown in the south and in the center. The yields from subsistence farming are insufficient to feed the population. The Central African Republic depends on food imports and international food aid. Agricultural export products are cotton, coffee and peanuts.
Forestry: Only just under 36% (at the beginning of the 1990s more than half) of the country is covered with forest, especially in the south there are large forests. Commercial forestry expanded considerably. Tropical woods generate around 40% of all export revenues. The most valuable types of wood are abachi, mahogany and sipo. In order to counter the further decline in forest areas, the government placed around 61,000 km 2 of forest under nature protection. The share of firewood in total logging fell from 85% (early 1990s) to around 73%.
Natural resources
In the mining sector, diamond mining dominates. Around four fifths of the diamonds mined are jewelery diamonds. The largest deposit is located in the southwest near the city of Berbérati. In addition, mainly gold, limestone, gravel and sand are mined. Mining generated 1.8% of GDP in 2013 and generated 46% of all export earnings. Existing deposits of chromium, iron ore, copper, manganese, petroleum, tin and others. For the most part, raw materials are still untapped or hardly to be used.
Industry
Manufacturing is only of local importance and remains largely confined to the capital, Bangui. The most important sectors are the textile and food industries.
Tourism
With its rainforests, the Central African Republic has a special tourist potential, the development of which is hampered by political instability and a lack of infrastructure.
Transportation
The landlocked Central African Republic is heavily dependent on transit traffic through Cameroon. Since only 7% of the approximately 20,300 km road network can be used all year round, inland shipping is of great importance. The main road connections start from the capital Bangui. The sparsely populated east is hardly accessible in terms of traffic. The port of Bangui is the largest inland port in the Central African Republic, with the port of Douala as the main overseas port(Cameroon) used. After the end of the crisis in Central Africa, river transport is to be increased; river regulation for year-round use is necessary. A 1,800 km transit route runs from Bangui to Douala in Cameroon; it consists of half a road and half a railroad section. Extensive investments are being made to expand the road network. M’Poko International Airport is close to the capital. There are additional airfields and runways for domestic traffic.
