Congo, Democratic Republic of the

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Introduction - Congo, Democratic Republic of the:
Location - Congo, Democratic Republic of the:
People - Congo, Democratic Republic of the:
Government - Congo, Democratic Republic of the:
Economy - Congo, Democratic Republic of the:

Economy overview

The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - is recovering from two decades of decline. Conflict, which began in August 1998, dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of perhaps 3.5 million people from violence, famine, and disease. Foreign businesses curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. Conditions began to improve in late 2002 with the withdrawal of a large portion of the invading foreign troops. The transitional government reopened relations with international financial institutions and international donors, and President KABILA has begun implementing reforms. Much economic activity still occurs in the informal sector, and is not reflected in GDP data. Economic stability improved during the period 2003-06, although an uncertain legal framework, corruption, and a lack of transparency in government policy continues to hamper growth. In 2005-06, renewed activity in the mining sector, the source of most export income, boosted Kinshasas fiscal position and GDP growth. The International Monetary Fund program for the DRC, however, expired at the end of March 2006 and probably will not be reinstated until mid-2007. Government reforms and improved security may lead to increased government revenues, outside budget assistance, and foreign direct investment in 2007.

Gdp purchasing power parity

$44.44 billion (2006 est.)

Gdp official exchange rate

$7.98 billion (2006 est.)

Gdp real growth rate

6.4% (2006 est.)

Gdp per capita ppp

$700 (2006 est.)

Gdp composition by sector

agriculture: 55%
industry: 11%
services: 34% (2000 est.)

Labor force

15 million (2006 est.)

Labor force by occupation

agriculture: NA%
industry: NA%
services: NA%

Unemployment rate

NA%

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

18.2% (2006 est.)

Budget

revenues: $700 million
expenditures: $2 billion (2006 est.)

Agriculture products

coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products

Industries

mining (diamonds, gold, copper, cobalt, coltan zinc), mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement, commercial ship repair

Industrial production growth rate

NA%

Electricity production

353 million kWh (2004)

Electricity consumption

658.3 million kWh (2004)

Electricity exports

NA

Electricity imports

330 million kWh (2004)

Oil production

21,090 bbl/day (2004)

Oil consumption

8,200 bbl/day (2004 est.)

Oil exports

229,700 bbl/day (2004 est.)

Oil imports

8,220 bbl/day (2006 est.)

Oil proved reserves

187 million bbl (1 January 2005)

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Natural gas proved reserves

991.1 million cu m (1 January 2005 est.)

Exports

$1.108 billion f.o.b. (2004 est.)

Exports commodities

diamonds, copper, crude oil, coffee, cobalt

Exports partners

Belgium 33.4%, China 24.1%, Chile 8.9%, Finland 8.2%, US 5.6% (2006)

Imports

$1.319 billion f.o.b. (2004 est.)

Imports commodities

foodstuffs, mining and other machinery, transport equipment, fuels

Imports partners

South Africa 19.5%, Belgium 11.8%, France 9.4%, Kenya 7.5%, Zambia 6.5%, Cote dIvoire 4.8% (2006)

Debt external

$10 billion (2006 est.)

Economic aid recipient

$2.2 billion (FY03/04)

Currency code

Congolese franc (CDF)

Exchange rates

Congolese francs per US dollar - 464.69 (2006), 437.86 (2005), 401.04 (2004), 405.34 (2003), 346.49 (2002)

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This page was last updated on 16 September, 2007
Source: CIA >>>


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Congo, Democratic Republic of the



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Congo, Democratic Republic of the



Photo: Congo, Democratic Republic of the
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Photo: Congo, Democratic Republic of the
Congo, Democratic Republic of the



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Congo, Democratic Republic of the




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