CIA Factbook The World Factbook 1994: ChadEconomy Overview: Climate, geographic remoteness, poor resource endowment, and lack of infrastructure make Chad one of the most underdeveloped countries in the world. Its economy is hobbled by political turmoil, conflict with Libya, drought, and food shortages. Consequently the economy has shown little progress in recent years in overcoming a severe setback brought on by civil war in the late 1980s. Over 80% of the work force is involved in subsistence farming and fishing. Cotton is the major cash crop, accounting for at least half of exports. Chad is highly dependent on foreign aid, especially food credits, given chronic shortages in several regions. The government hopes that discovery of several oil deposits near Lake Chad will lead to economic revival and a windfall in government revenues by 2000. National product: GDP—purchasing power equivalent—$2.7 billion (1993 est.) National product real growth rate: 8.4% (1991 est.) National product per capita: $500 (1993 est.) Inflation rate (consumer prices): 2%-3% (1991 est.) Unemployment rate: NA% Budget: • revenues: $115 million • expenditures: $412 million, including capital expenditures of $218 million (1991 est.) Exports: $193.9 million (f.o.b., 1991) • commodities: cotton 48%, cattle 35%, textiles 5%, fish • partners: France, Nigeria, Cameroon Imports: $294.1 million (f.o.b., 1991) • commodities: machinery and transportation equipment 39%, industrial goods 20%, petroleum products 13%, foodstuffs 9%; note—excludes military equipment • partners: US, France, Nigeria, Cameroon External debt: $492 million (December 1990 est.) Industrial production: growth rate 12.9% (1989 est.); accounts for nearly 15% of GDP Electricity: • capacity: 40,000 kW • production: 70 million kWh • consumption per capita: 15 kWh (1991) Industries: cotton textile mills, slaughterhouses, brewery, natron (sodium carbonate), soap, cigarettes Agriculture: accounts for about 45% of GDP; largely subsistence farming; cotton most important cash crop; food crops include sorghum, millet, peanuts, rice, potatoes, manioc; livestock—cattle, sheep, goats, camels; self-sufficient in food in years of adequate rainfall Economic aid: • recipient: US commitments, including Ex-Im (FY70-89), $198 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $1.5 billion; OPEC bilateral aid (1979-89), $28 million; Communist countries (1970-89), $80 million Currency: 1 CFA franc (CFAF)=100 centimes Exchange rates: Communaute Financiere Africaine Francs (CFAF) per US$1—592.05 (January 1994), 283.16 (1993), 264.69 (1992), 282.11 (1991), 272.26 (1990), 319.01 (1989) • note: beginning 12 January 1994 the CFA franc was devalued to CFAF 100 per French franc from CFAF 50 at which it had been fixed since 1948 Fiscal year: calendar year