Chad flag Chad: Economic outline

Economic Outline

Economic Indicators

For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19.

In 2021, Chad saw an economic rebound from the pandemic, with the country recording a GDP growth of 0.9%. However, the continued fallout of the health crisis, as well as Chad's political and security instability, hampered a stronger growth. The country should recovering throughout 2022 and 2023, with growth rates reaching 2.4% and 2.5%, as demand surges. The slight rise in oil price and the start of production at new fields should help the country continue to overcome the impact of the crisis. Gold’s prices are another factor likely to contribute to the good performance of the Chadian economy this year.

In 2021, the government continued implementing a series of fiscal measures put in response to the COVID-19 crisis, which have been effective. IMF has helped Chad through a facility of USD 183 million and a six months alleviation of the debt of the country. In 2021, the debt-to-GDP ratio decreased to 44%, and it should remain stable at 44.3% in 2022 and 42.8% in 2023. As for the country's inflation rate, it stood at 2.6% in 2021, and it is expected to reach 2.8% in 2022 and maintain that rate in 2023. In 2022,  the gradual removal of COVID-related spending and the expected increase of oil receipts will boost the government’s revenues. The current account deficit is expected to remain relatively stable, going from 5.2% in 2021 to 4.7% in 2022 and 5.8% in 2023. While export earnings are expected to increase over that period, growth in imports of goods and services to support development in the oil sector should to be quicker.

While it records a high level of schooling, Chad is still dominated by poverty and strong social inequalities. However, in the past few years, the percentage of poor people has reduced, but the crisis the country now experiences has raised the poverty rate (to 39.8% in 2019, according to the World Bank). In 2020, the unemployment rate in the country was at 2.3%.

 
Main Indicators 201920202021 (e)2022 (e)2023 (e)
GDP (billions USD) 10.93e10.84e12.3512.9513.72
GDP (Constant Prices, Annual % Change) 3.0e-0.8e0.92.42.5
GDP per Capita (USD) 686e660e730744766
General Government Gross Debt (in % of GDP) 52.347.9e44.044.342.8
Inflation Rate (%) -1.04.5e-0.84.13.1
Current Account (billions USD) -0.52e-0.88e-0.65-0.61-0.79
Current Account (in % of GDP) -4.8e-8.1e-5.2-4.7-5.8

Source: IMF – World Economic Outlook Database, 2016

Note: (e) Estimated Data

 
Monetary Indicators 20162017201820192020
CFA Franc BEAC (XAF) - Average Annual Exchange Rate For 1 GBP 800.68749.15741.42732.38737.93

Source: World Bank, 2015

 

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Latest Update: July 2022

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