|
Economy - overview:
|
The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - is slowly 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 more than 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, although progress is slow and the International Monetary Fund curtailed their program for the DRC at the end of March 2006 because of fiscal overruns. 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, boosted Kinshasa's fiscal position and GDP growth. Government reforms and improved security may lead to increased government revenues, outside budget assistance, and foreign direct investment, although an uncertain legal framework, corruption, and a lack of transparency in government policy are continuing long-term problems.
|
|
GDP (purchasing power parity):
|
$19.03 billion (2007 est.)
|
|
GDP (official exchange rate):
|
$10.14 billion (2007 est.)
|
|
GDP - real growth rate:
|
7% (2007 est.)
|
|
GDP - per capita (PPP):
|
$300 (2007 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%
|
|
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA%
|
|
Budget:
|
revenues: $700 million
expenditures: $2 billion (2006 est.)
|
|
Inflation rate (consumer prices):
|
16.7% (2007 est.)
|
|
Central bank discount rate:
|
5.25% (31 December 2007)
|
|
Commercial bank prime lending rate:
|
NA
|
|
Stock of money:
|
$597 million (31 December 2007)
|
|
Stock of quasi money:
|
$677.9 million (31 December 2007)
|
|
Stock of domestic credit:
|
$559.5 million (31 December 2007)
|
|
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:
|
7.243 billion kWh (2006 est.)
|
|
Electricity - consumption:
|
5.158 billion kWh (2006 est.)
|
|
Electricity - exports:
|
1.799 billion kWh (2006 est.)
|
|
Electricity - imports:
|
6 million kWh (2006 est.)
|
|
Oil - production:
|
22,160 bbl/day (2007 est.)
|
|
Oil - consumption:
|
10,460 bbl/day (2006 est.)
|
|
Oil - exports:
|
19,820 bbl/day (2005)
|
|
Oil - imports:
|
8,220 bbl/day (2006 est.)
|
|
Oil - proved reserves:
|
180 million bbl (1 January 2008 est.)
|
|
Natural gas - production:
|
0 cu m (2007 est.)
|
|
Natural gas - consumption:
|
0 cu m (2007 est.)
|
|
Natural gas - exports:
|
0 cu m (2007 est.)
|
|
Natural gas - imports:
|
0 cu m (2007 est.)
|
|
Natural gas - proved reserves:
|
991.1 million cu m (1 January 2008 est.)
|
|
Current account balance:
|
-$402 million (2007 est.)
|
|
Exports:
|
$1.587 billion f.o.b. (2006)
|
|
Exports - commodities:
|
diamonds, copper, crude oil, coffee, cobalt
|
|
Exports - partners:
|
Belgium 23.6%, China 21.7%, US 9.8%, Finland 9.1%, Brazil 9.1%, France 6.8%, Zambia 6% (2007)
|
|
Imports:
|
$2.263 billion f.o.b. (2006)
|
|
Imports - commodities:
|
foodstuffs, mining and other machinery, transport equipment, fuels
|
|
Imports - partners:
|
South Africa 22.5%, Belgium 10.3%, Zambia 8.9%, Zimbabwe 7.5%, France 6.8%, Kenya 6.3%, US 4.1%, Cote d'Ivoire 4.1% (2007)
|
|
Debt - external:
|
$10 billion (2006 est.)
|
|
Market value of publicly traded shares:
|
$NA
|
|
Currency (code):
|
Congolese franc (CDF)
|
|
Exchange rates:
|
Congolese francs (CDF) per US dollar - NA (2007), 464.69 (2006), 437.86 (2005), 401.04 (2004), 405.34 (2003)
|
