Concept

Economy of the Central African Republic

Summary
The economy of the Central African Republic is 2.321billionbygrossdomesticproductasof2019,withanestimatedannualpercapitaincomeofjust2.321 billion by gross domestic product as of 2019, with an estimated annual per capita income of just 805 as measured by purchasing power parity in 2019. Sparsely populated and landlocked, the Central African Republic is overwhelmingly agrarian. The vast bulk of the population engages in subsistence farming and 55% of the country's GDP derives from agriculture. Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with more than 70% of the population living in outlying areas. Principal food crops include cassava, peanuts, sorghum, millet, maize, sesame, and plantains. Principal cash crops for export include cotton, coffee, and tobacco. Timber has accounted for about 16% of export earnings and the diamond industry for nearly 54%. Central African Republic is a least developed country according to United Nations.
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