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Congo, Democratic Republic of the Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Congo, Democratic Republic of the Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

Economy - overview:
The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - is slowly recovering after decades of decline. Systemic corruption since independence in 1960, combined with country-wide instability and conflict that began in the mid-90s has dramatically reduced national output and government revenue and increased external debt. With the installation of a transitional government in 2003 after peace accords, economic conditions slowly began to improve as the transitional government reopened relations with international financial institutions and international donors, and President KABILA began implementing reforms. Progress has been slow to reach the interior of the country although clear changes are evident in Kinshasa and Lubumbashi. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the mining sector and for the economy as a whole. Much economic activity still occurs in the informal sector and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, has boosted Kinshasa's fiscal position and GDP growth in recent years. The global recession cut economic growth in 2009 to less than half its 2008 level, but growth returned to around 7% per year in 2010-12. The DRC signed a Poverty Reduction and Growth Facility with the IMF in 2009 and received $12 billion in multilateral and bilateral debt relief in 2010, but the IMF at the end of 2012 suspended the last three payments under the loan facility - worth $240 million - because of concerns about the lack of transparency in mining contracts. In 2012, the DRC updated its business laws by adhering to OHADA, the Organization for the Harmonization of Business Law in Africa. The country marked its tenth consecutive year of positive economic expansion in 2012.

GDP (purchasing power parity):
$29.39 billion (2013 est.)
country comparison to the world: 115

$27.66 billion (2012 est.)
$25.82 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$18.56 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.2% (2013 est.)
country comparison to the world: 36

7.2% (2012 est.)
6.9% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$400 (2013 est.)
country comparison to the world: 228

$400 (2012 est.)
$400 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 65.9%
government consumption: 12.5%
investment in fixed capital: 27.9%
investment in inventories: 1%
exports of goods and services: 49.9%
imports of goods and services: -56.3%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 44.3%
industry: 21.7%
services: 34% (2013 est.)

Agriculture - products:
coffee, sugar, palm oil, rubber, tea, cotton, cocoa, quinine, cassava (manioc), bananas, plantains, peanuts, root crops, corn, fruits; wood products

Industries:
mining (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing, consumer products (textiles, plastics, footwear, cigarettes), metal products, processed foods and beverages, timber, cement, commercial ship repair

Industrial production growth rate:
12% (2013 est.)
country comparison to the world: 7
[see also: Industrial production growth rate country ranks ]

Labor force:
35.18 million (2013 est.)
country comparison to the world: 18
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
71% (2006 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 34.7% (2006)

Budget:
revenues: $5.817 billion
expenditures: $6.472 billion (2013 est.)

Taxes and other revenues:
31.3% of GDP (2013 est.)
country comparison to the world: 85
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2013 est.)
country comparison to the world: 137
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.1% (2013 est.)
country comparison to the world: 190

9.5% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4% (31 December 2012 est.)
country comparison to the world: 7

20% (31 December 2011 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
18.6% (31 December 2013 est.)
country comparison to the world: 6

28.45% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.06 billion (31 December 2013 est.)
country comparison to the world: 148

$986.6 million (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.502 billion (31 December 2013 est.)
country comparison to the world: 141

$3.042 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.862 billion (31 December 2013 est.)
country comparison to the world: 132

$1.708 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.544 billion (2013 est.)
country comparison to the world: 152

-$2.254 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$9.936 billion (2013 est.)
country comparison to the world: 95

$8.872 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
diamonds, copper, gold, cobalt, wood products, crude oil, coffee

Exports - partners:
China 54.3%, Zambia 22.6%, Belgium 5.7% (2012)

Imports:
$8.924 billion (2013 est.)
country comparison to the world: 106

$8.187 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, mining and other machinery, transport equipment, fuels

Imports - partners:
South Africa 22.3%, China 15.3%, Belgium 8%, Zambia 6.9%, Zimbabwe 5.6%, France 4.9%, Kenya 4.7% (2012)

Reserves of foreign exchange and gold:
$1.582 billion (31 December 2013 est.)
country comparison to the world: 127

$1.633 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$6.874 billion (31 December 2013 est.)
country comparison to the world: 109

$6.087 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Congolese francs (CDF) per US dollar -

918 (2013 est.)
920.25 (2012 est.)
905.91 (2010 est.)
472.19 (2009)
559 (2008)


NOTE: 1) The information regarding Congo, Democratic Republic of the on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Democratic Republic of the Economy 2015 information contained here. All suggestions for corrections of any errors about Congo, Democratic Republic of the Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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