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Congo, Democratic Republic of the Economy 2013
http://www.theodora.com/wfbcurrent/congo_democratic_republic_of_the/congo_democratic_republic_of_the_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 13, 2013

Economy - overview:
The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - is slowly recovering from 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, increased external debt, and resulted in the deaths of more than 5 million people from violence, famine, and disease. 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. 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, 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.

GDP (purchasing power parity):
$27.53 billion (2012 est.)
country comparison to the world: 115

$25.7 billion (2011 est.)
$24.05 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$17.7 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.1% (2012 est.)
country comparison to the world: 24

6.9% (2011 est.)
7.2% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$400 (2012 est.)
country comparison to the world: 228

$400 (2011 est.)
$300 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 38.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 25.9%
services: 35.7% (2012 est.)

Labor force:
35.92 million (2012 est.)
country comparison to the world: 18
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
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%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 34.7% (2006)

Budget:
revenues: $3.383 billion
[see also: Budget revenues country ranks ]
expenditures: $4.057 billion (2012 est.)

Taxes and other revenues:
19.1% of GDP (2012 est.)
country comparison to the world: 166
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.8% of GDP (2012 est.)
country comparison to the world: 123
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
13.8% (2012 est.)
country comparison to the world: 209

15.5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
22% (31 December 2010 est.)
country comparison to the world: 2

70% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
40% (31 December 2012 est.)
country comparison to the world: 3

43.75% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.016 billion (31 December 2012 est.)
country comparison to the world: 149

$867 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.087 billion (31 December 2012 est.)
country comparison to the world: 144

$2.654 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$613 million (31 December 2012 est.)
country comparison to the world: 168

$522.5 million (31 December 2011 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 ]

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

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$1.136 billion (2012 est.)
country comparison to the world: 116

-$831 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$11.28 billion (2012 est.)
country comparison to the world: 89

$10.66 billion (2011 est.)
[see also: Exports country ranks ]

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

Exports - partners:
China 48.1%, Zambia 21.3%, US 9.5%, Belgium 5.4% (2011)

Imports:
$9.237 billion (2012 est.)
country comparison to the world: 101

$8.721 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
South Africa 21.7%, China 16.2%, Belgium 8.5%, Zambia 7.1%, Zimbabwe 5.7%, Kenya 4.8%, France 4.7% (2011)

Reserves of foreign exchange and gold:
$810.2 million (31 December 2012 est.)
country comparison to the world: 141

$726.3 million (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$7.644 billion (31 December 2012 est.)
country comparison to the world: 102

$7.136 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

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

920 (2012 est.)
899 (2011 est.)
905.91 (2010 est.)
472.19 (2009)
559 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Congo, Democratic Republic of the on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Democratic Republic of the Economy 2013 information contained here. All suggestions for corrections of any errors about Congo, Democratic Republic of the Economy 2013 should be addressed to the CIA.


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