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. Over 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. The nation's total oil reserves have been estimated to be 2 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 - per capita | $1,900 (2005 est.) |
GDP - real growth rate (%) | 14% (2005 est.) |
Agriculture - products | cotton, sorghum, millet, peanuts, rice, potatoes, manioc (tapioca); cattle, sheep, goats, camels |
GDP - composition by sector (%) | agriculture: 23.7%, industry: 38.6%, services: 37.7% (2005 est.) |
Industries | oil, cotton textiles, meatpacking, beer brewing, natron (sodium carbonate), soap, cigarettes, construction materials |
Economic aid - recipient | $238.3 million received; note - $125 million committed by Taiwan (August 1997); $30 million committed by African Development Bank; ODA $246.9 million (2003 est.) |
Debt - external | $1.5 billion (2003 est.) |
Population below poverty line (%) | 80% (2001 est.) |
Labor force - by occupation (%) | agriculture more than 80% (subsistence farming, herding, and fishing) |