The Central African Republic is a landlocked country situated in the heart of Africa. She is sparsely populated by 5.4 million inhabitants. The total area of the country is 623 000 km2.
According to the World Bank, the economic activity slowed in 2020 but remained positive at about 0.8%, more than 2 percentage points below its 2019 level. According to the African Development Bank the economy grew by 0.4% in 2020 and the reel GDP growth is projected at 3.3% in 2021 and 5.1% in 2022.
The country mainly exports timber (63.64% of total exports), diamonds (24.05%), ships (2.37%), cocoa (1.83%), cotton (1.6) and machines.
The main customers of the CAR are France (33% of total imports), the United Arab Emirates (16.4%), Cameroon (13.1%), China (12.7%), Niger (4.5%) and Vietnam (4.2%). Its main suppliers are France (17.2% of total imports), China (11.8%), Cameroon (8.1%), Nepal (7.8%), India (7.1%) %) and Japan (5.1%).
The CAR is a state member in the Economic and Monetary Community of Central Africa (CEMAC), the Economic Community of Central African States (ECCAS) and the Sahel-Saharan States (CEN-SAD).
As of June 30, 2021, the World Bank had a portfolio of 20 projects worth US$712 million. The portfolio finances projects aimed at (i) improving service delivery in such key sectors as education, health, energy, and water; (ii) supporting peace building and stabilization efforts in the country; (iii) rebuilding critical infrastructure; and (iv) improving governance by supporting essential reforms, and strengthening public financial management.
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