Congo, Democratic Republic of the Economy
Economy - overviewThe economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - has declined drastically since the mid-1980s. The war, which began in August 1998, has dramatically reduced national output and government revenue, has increased external debt, and has resulted in the deaths from war, famine, and disease of perhaps 3.5 million people. Foreign businesses have curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. The war has intensified the impact of such basic problems as an uncertain legal framework, corruption, inflation, and lack of openness in government economic policy and financial operations. Conditions improved in late 2002 with the withdrawal of a large portion of the invading foreign troops. Several IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President KABILA has begun implementing reforms. Much economic activity lies outside the GDP data. Economic stability, aided by international donors, improved in 2003. New mining contracts have been approved, which - combined with high mineral and metal prices - could improve Kinshasa's fiscal position and GDP growth.
GDP
purchasing power parity - $40.05 billion (2003 est.)
GDP - real growth rate
6.5% (2003 est.)
GDP - per capita
purchasing power parity - $700 (2003 est.)
GDP - composition by sector
agriculture: 55%
industry: 11%
services: 34% (2000 est.)
Population below poverty line
NA
Household income or consumption by percentage share
lowest 10%: NA
highest 10%: NA
Inflation rate
14% (2003 est.)
Labor force
14.51 million (1993 est.)
Labor force - by occupation
NA
Unemployment rate
NA (2003 est.)
Budget
revenues: $269 million
expenditures: $244 million, including capital expenditures of $24 million (1996 est.)
Agriculture - products
coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products
Industries
mining (diamonds, copper, zinc), mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement
Industrial production growth rate
NA
Electricity - production
5.243 billion kWh (2001)
Electricity - consumption
3.839 billion kWh (2001)
Electricity - exports
1.097 billion kWh (2001)
Electricity - imports
60 million kWh (2001)
Oil - production
24,000 bbl/day (2001 est.)
Oil - consumption
14,000 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Oil - proved reserves
1.538 billion bbl (1 January 2002)
Natural gas - proved reserves
104.8 billion cu m (1 January 2002)
Exports
$1.417 billion f.o.b. (2002 est.)
Exports - commodities
diamonds, copper, crude oil, coffee, cobalt
Exports - partners
Belgium 54.9%, US 15.4%, Zimbabwe 11.1%, Finland 4.8% (2003)
Imports
$933 million f.o.b. (2002 est.)
Imports - commodities
foodstuffs, mining and other machinery, transport equipment, fuels
Imports - partners
South Africa 17%, Belgium 14.9%, France 12.6%, Germany 6.8%, Kenya 5.4%, Netherlands 4% (2003)
Debt - external
$11.6 billion (2000 est.)
Currency
Congolese franc (CDF)
Currency code
CDF
Exchange rates
Congolese francs per US dollar - NA (2003), 346.485 (2002), 206.617 (2001), 21.82 (2000), 4.02 (1999)
