Overview

Chad is a large, landlocked country with a population of 11,412,107 (July 2014 est.) and a per capita gross domestic product (GDP) of USD 2,500 at purchasing power parity (PPP) in 2013. Oil and agriculture drive Chad's economy. Oil generates the bulk of export revenues. A majority of Chad's population relies on subsistence farming and livestock. Cotton, cattle, and gum Arabic are Chad's primary non-oil exports. Chad's economic growth has been positive in recent years due to high oil prices and strong local harvests. Real GDP in 2013 fell to 3.6 percent; however, the IMF predicts Chad's growth rate will spike above 10 percent in 2014 thanks to high oil prices, new oil-related projects, and strong agricultural production. China supplies the largest share of Chad's imports at 20.2 percent, followed by Cameroon at 18.2 percent, France at 16.1 percent, Saudi Arabia at 5.6 percent, and the United States with 4.2 percent. U.S. goods exports to Chad in 2013 were $41 million, up 11.8 percent from 2012. Principal imports from the United States in 2013 were machinery ($14 million), electrical machinery ($5 million), iron/steel ($3 million), and cutlery, optical, photo, and medical or surgical instruments ($2 million). Other imports include construction materials and machinery, foodstuffs, pharmaceuticals, and soap. The United States receives 81.9 percent of Chad's exports, primarily petroleum. Most other exports are to China, France, Germany, Portugal, and regional trading partners. The U.S. and Chad have no trade or investment agreements. However, Chad is eligible for the African Growth and Opportunity Act (AGOA), receiving trade preferences including quota and duty-free entry for certain goods.

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9781502335821

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