The Chadian Economy Chad economy reports and economic statistics and charts
The Chadian economy is growing. Although the past few turmultuous years have thrown Chad an economic curveball, the inflow of money from oil has diven economic growth and promises to continue to in the coming years.
An Economic Overview Chadian Economy Report
Chad has an economy based on agriculture, but oil has recently emerged as a dominating force. Historically, though, Chad's economy has been centered around cotton production and animal husbandry, which were important to Chad even before colonization by the French. French authorities encouraged cotton production during colonial rule, and raw cotton was primarily exported to France.
When France withdrew from Chad in 1960,
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the nation was left with a less than adequate supply of skilled professionals and a poor infrastructure. In the following years, Chad’s economy focused on cotton production, with livestock exports also taking an important role. Nevertheless, political instability, war, and periodic drought hampered the steady economic development that was needed. A collapse in world cotton prices also severely crippled the cotton industry...more
Oil in Chad Oil exploration and exploitation in Chad
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began in the 1970s. Oil was discovered in the Lake Chad basin and the Doba basin. Initially, Exxon, Chevron, Conoco, and Shell collaborated in oil exploration in Chad. Since then, there have been numerous withdrawals, and today the consortium is made up of ExxonMobil, Petronas, and ChevronTexaco. Exploitation activities were delayed during the civil war, which began in 1979, and final preparations for extraction did not begin until the 1990s...more