Economy of Chad

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Economy of Chad

A tailor in Chad
Currency	Central African CFA franc (XAF)
Fiscal year	Calendar year
Trade organisations	AU, AfCFTA, WTO
Statistics
GDP	$11.051 billion (nominal, 2018 est.)[1] $30.507 billion (PPP, 2018 est.)[1]
GDP growth	−3.0% (2017) 2.6% (2018) 3.0% (2019e) 5.5% (2020f)[2]
GDP per capita	$885 (nominal, 2018 est.)[1] $2,442 (PPP, 2018 est.)[1]
GDP by sector	agriculture: 52.7% industry: 6.7% services: 40.6% (2011 est.)
Inflation (CPI)	4.037% (2018 est.)[1]
Population below poverty line	66.2% (2019 est.)
Human Development Index	0.394 low (2022)[3] (189th) 0.251 low IHDI (2021)[4]
Labour force	7.300 million (2018)
Labour force by occupation	agriculture: 80% (subsistence farming, herding, and fishing); industry and services: 20% (2006 est.)
Main industries	oil, cotton textiles, meatpacking, brewing, natron (sodium carbonate), soap, cigarettes, construction materials
External
Exports	$1.695 billion (2018 est.)
Export goods	oil, cattle, cotton, gum arabic
Main export partners	United States 58.5%  India 13.3%  Japan 11.3%  China 4.1% (2015)[5]
Imports	$2.262 billion (2018 est.)
Import goods	machinery and transportation equipment, industrial goods, foodstuffs, textiles
Main import partners	France 16.5%  China 14.2%  Cameroon 11%  United States 6.4%  India 6%  Belgium 5.7%  Italy 4.8% (2015)[6]
FDI stock	$567 million (2019 est.)
Gross external debt	$3.569 billion (2019 est.)
Public finances
Revenues	$2.501 billion (2011 est.)
Expenses	$3.482 billion (2011 est.)
Economic aid	$238.3 million (recipient) note – $125 million committed by Taiwan (1997); $30 million committed by African Development Bank; ODA $150 million (2001[update])
Foreign reserves	$147.7 million (2019 est.)
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.

The economy of Chad suffers from the landlocked country's geographic remoteness, drought, lack of infrastructure, and political turmoil. About 85% of the population depends on agriculture, including livestock herding. Of Africa's Francophone countries, Chad benefited least from the 50% devaluation of their currencies in January 1994. Financial aid from the World Bank, the African Development Bank, and other sources is directed mainly at improving agriculture, especially livestock production. Because of a lack of financing, the development of oil fields near Doba, originally due to finish in 2000, was delayed until 2003. It was finally developed and is now operated by ExxonMobil. Regarding gross domestic product, Chad ranks 147th globally with $11.051 billion as of 2018.