Economy Of The Central African Republic
The Central African Republic (CAR) is classified as one of the world's least developed countries, with an estimated annual per capita income of $700 (2009).
Sparsely populated and landlocked, the nation is overwhelmingly agrarian. The vast bulk of the population engages in subsistence farming and 55% of the country's GDP arises 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. The agricultural sector generates half of GDP. 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%.
Read more about Economy Of The Central African Republic: Infrastructure, Agriculture, Finance and Banking, Fishing, Forestry, Natural Resources, Economic Aid and Development, Statistics
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“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
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—White South African proverb.
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