Congo, Democratic Republic of the Economy 1997

Economy - overview The economy of Democratic Republic of the Congo has continued to disintegrate,although former Prime Minister KENGO had had some success in slowing the rateof economic decline. While meaningful economic figures are difficult to comeby, the high rate of inflation, chronic large government deficits, and plungingmineral production have made it one of the world's poorest countries. Mostformal transactions are conducted in hard currency as indigenous bank noteshave lost almost all value, and a barter economy now flourishes in all butthe largest cities. During the bitter civil strive of 1996-97 most individualsand families have hung on grimly through subsistence farming and petty trade.The new KABILA government will be hard pressed to meet its financial obligationsto the IMF or to put in place the financial measures advocated by it. Improvedpolitical stability would boost the country's long-term potential to effectivelyexploit its vast mineral and agricultural resources.

GDP purchasing power parity - $16.5 billion (1995 est.)

GDP - real growth rate -0.7% (1995 est.)

GDP - per capita purchasing power parity - $400 (1995 est.)

GDP - composition by sector
agriculture: 59%
industry: 15%
services: 26% (1995 est.)

Inflation rate - consumer price index 542% (1995)

Labor force
total: 14.51 million (1993 est.)
by occupation : agriculture 65%, industry 16%, services 19% (1991 est.)

Unemployment rate NA%

Budget
revenues: $479 million
expenditures : $479 million, including capital expenditures of $99 million (1996 est.)

Industries mining, mineral processing, consumer products (including textiles, footwear,cigarettes, processed foods and beverages), cement, diamonds

Industrial production growth rate NA

Electricity - capacity 2.83 million kW (1994)

Electricity - production 5.48 billion kWh (1994)

Electricity - consumption per capita 87 kWh (1995 est.)

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

Exports
total value : $1.47 billion (f.o.b., 1995 est.)
commodities: diamonds, copper, coffee, cobalt, crude oil
partners: Belgium, US, France, Germany, Italy, UK, Japan, South Africa

Imports
total value: $1.25 billion (c.i.f., 1995 est.)
commodities : consumer goods, foodstuffs, mining and other machinery, transport equipment,fuels
partners: Belgium, South Africa, US, France, Germany, Italy, Japan, UK

Debt - external $13.8 billion (1995 est.)

Economic aid
recipient: ODA, $NA

Currency 1 zaire (Z) = 100 makuta

Exchange rates new zaires (Z) per US$1 - 83,764 (October 1996), 7,024 (1995), 1,194(1994), 3 (1993); zaire (Z) per US$1 - 645,549 (1992)
note: on 22 October 1993 the new zaire, equal to 3,000,000 old zaires, wasintroduced

Fiscal year calendar year

NOTE: The information regarding Congo, Democratic Republic of the on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Democratic Republic of the Economy 1997 information contained here. All suggestions for corrections of any errors about Congo, Democratic Republic of the Economy 1997 should be addressed to the CIA.