Traditionally, the Central African Republic (CAR) is highly favorable to international trade and international trade represents around 45% of the country's GDP (World Bank, latest data available). However, the country's protectionist policies limited its openness and customs duties are relatively high. In addition, certain agricultural products benefit from higher tariff protections. Despite easy access to its internal market, the CAR does not grant preferential tariffs to other countries. CAR is a member of the Central African Economic and Monetary Community (CEMAC) and of WTO. The country mainly exports gold (44.4% of the total), parts and accessories for tractors (14.1%), diamonds (12.2%), and electrical machines and apparatus (7%); whereas imports are led by engines and motors (12%), medicaments (6.7%), powered aircraft (6.3%), prefabricated buildings (4.8%), petroleum oils (4.1%), and human blood (2.5% - International Trade Centre, 2022).
CAR's main customers are the United Arab Emirates (40.9%), Pakistan (19.8%), Italy (12.6%), France (9%), and Cameroon (7.2%). Its main suppliers are Cameroon (40.2%), United States of America (9.7%), France (8.1%), China (7.9%), Belgium (3.4%), and India (3.1% - International Trade Centre, 2022).
CAR's trade balance is structurally in deficit, a trend which should continue in the years to come. In 2022, CAR exported USD 143 million in goods and imported USD 496 million (data WTO). As per the latest data available, in 2020, the country exported USD 291 million worth of services, vis-à-vis 354 million in imports. In 2022, the World Bank estimated the country’s trade deficit to account for 20.6% of GDP, up from 17.7% one year earlier.
Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Imports of Goods (million USD) | 613 | 506 | 458 | 529 | 502 |
Exports of Goods (million USD) | 148 | 134 | 150 | 143 | 137 |
Imports of Services (million USD) | 469 | 354 | 0 | 0 | n/a |
Exports of Services (million USD) | 357 | 291 | 0 | 0 | n/a |
Imports of Goods and Services (Annual % Change) | 5 | 1 | -10 | 7 | n/a |
Exports of Goods and Services (Annual % Change) | 2 | -3 | -6 | -7 | n/a |
Foreign Trade (in % of GDP) | 50 | 50 | 45 | 46 | n/a |
Imports of Goods and Services (in % of GDP) | 34 | 34 | 30 | 33 | n/a |
Exports of Goods and Services (in % of GDP) | 16 | 15 | 14 | 13 | n/a |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
Main Customers (% of Exports) |
2022 |
---|---|
United Arab Emirates | 40.9% |
Pakistan | 19.8% |
France | 9.0% |
Cameroon | 7.2% |
Switzerland | 2.8% |
See More Countries | 20.3% |
Main Suppliers (% of Imports) |
2022 |
---|---|
Cameroon | 40.2% |
United States | 9.7% |
France | 8.1% |
China | 7.9% |
Belgium | 3.4% |
See More Countries | 30.7% |
Source: Comtrade, Latest Available Data
Source: Comtrade, Latest Available Data
To go further, check out our service Import-Export Flows
Member of Community of Sahel-Saharan States (CEN-SAD)
Member of Economic and Monetary Community of Central Africa (CEMAC) (in French)
Member of Community of Sahel-Saharan States (CEN-SAD)
Member of Economic and Monetary Community of Central Africa (CEMAC) (in French)
Any Comment About This Content? Report It to Us.
© eexpand, All Rights Reserved.
Latest Update: May 2024