Economy and Business in Chad
Chad Economy and Business refers to the present position of the economy of Chad and the consequent business opportunities in the country. Chad economy is mainly based on agriculture.
In the country about 80% people depends on livestock and subsistence farming for earning their livelihood. Most of Chad’s export earnings comes from cattle, gumarabic and cotton.
The southern part of the country is regarded as the finest zone for farming as this part gets sufficient rainfall for cultivation of peanuts and cotton. Cotton and peanuts are the leading cash crops of Chad. Subsistence crops, which are exported to parts of the world are rice, millet, yams, sorghum and cassava.
The chief minerals of the country are uranium and natron. In Chad, petroleum is found in the southern part of Doba basin. Through pipeline the petroleum is exported to the port ( Kirbi) of Cameroon.
The main industries of Chad includes:
- Textiles industry ( Cotton)
- Food Processing ( meatpacking )
- Light consumer goods ( cigarettes and soap)
- Construction materials
An association of two companies from United States has invested $3.7 billion in order to build up oil reserves in the southern part of Chad.
Chad is a member country of Franc Zone. The trading partners of Chad are:
- Countries of European Union
- South Africa
Chad Economy and Business is developing with the passing time. Chad Economy is ranked 147th of the world’s freest economy.