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Central African

Introduction Key Economic Facts Risk Assessment (Provided by Coface) The is a in Income Level (by per capita Low Income Country rating: D - A high-risk political and economic Central that borders the countries of , GNI): situation and an often very difficult business environment , , , the Democratic Republic of the Level of Development: Developing can have a very significant impact on corporate payment , and the Republic of the Congo. GDP, PPP (current international $4.68 billion (2019) The geography of the Central African $): behavior. Corporate default probability is very high. Republic is vast and flat with scattered GDP growth (annual %): 2.97% (2019) Business Climate rating: E - The highest possible risk in hills in the northeast and southwest. The GDP per capita, PPP (current $986.68 (2019) terms of business climate. Due to a lack of available government system is a republic; the chief international $): financial information and an unpredictable legal system, of state is the president, and the head of government is the External debt stocks, total $880,204,018.40 (2019) doing business in this country is extremely difficult. prime minister. The Central African Republic has a (DOD, current US$): traditional economic system in which subsistence agriculture Manufacturing, value added (% 18.64% (2019) Strengths and remain the of GDP): • Agricultural (cotton, coffee), forestry and mining backbone of the economy. The Current account balance (BoP, -$0.02 billion (1994) (diamond, gold, uranium) potential current US$): Central African Republic is a • Substantial international financial support member of the Economic Inflation, consumer prices 37.14% (2015) Weaknesses Community of Central African (annual %): States (ECCAS). Labor force, total: 1,961,831 (2020) • Extreme poverty (two-thirds of the population lives Unemployment, total (% of 3.70% (2020) below the poverty line) total labor force) (modeled ILO estimate): • Economy vulnerable to external shocks Location: Middle Africa Imports of goods and services $1.05 billion (2019) • Weak transport infrastructure and energy production Capital City: (+1 GMT) (current US$): capacity Chief of State: President Faustin-Archange Touadera Exports of goods and services $0.41 billion (2019) • Geographically isolated (current US$): Head of Govt.: Prime Minister Henri-Marie Dondra • Unstable political and security situation (a large part Currency: Communaute Financiere Africaine GDP Composition % (XAF) Agriculture Services Industry Manufacturing of the is controlled by armed rebel groups) Major Languages:

French (official), Sangho (lingua U.S. Embassy franca and national language), tribal 44 languages

32 21 19 The Embassy in the Central African Republic Primary Religions:

Indigenous beliefs 35%, Avenue David Dacko Protestant 25%, Roman Catholic *Although Manufacturing is included in the Industry figures, it is also separately P.O. Box 924 25%, Muslim 15%

reported because it plays a critical role in economy. Bangui Calling Code: 236 Rankings Central African Republic Voltage: 220 Index Rank Tel:(236) 2161-0200 Perceptions Index 153 / 180 Key Websites https://cf.usembassy.gov Index of Economic Freedom 160 / 179 Main Government Page: rca-gouv.net International Logistics Performance Index (LPI) 151 / 160 KOF Index of Globalization 175 / 185

Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV