Congo, Democratic Republic of the Economy:
The 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, dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of perhaps 3.5 million people from war, 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 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 2003-04, although an uncertain legal framework, corruption, and a lack of openness in government policy continues to hamper growth. In 2005, renewed activity in the mining sector, the source of most exports, could boost Kinshasa's fiscal position and GDP growth.
GDP (purchasing power parity):
$42.74 billion (2004 est.)
GDP — real growth rate:
7.5% (2004 est.)
GDP — per capita:
purchasing power parity: $700 (2004 est.)
GDP — composition by sector:
agriculture: 55%
industry: 11%
services: 34%
(2000)
Labor force:
14.51 million (1993 est.)
Labor force — by occupation:
NA
Unemployment rate:
NA (2003 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
14% (2003 est.)
Budget:
revenues: $269 million (1996 est.)
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, commercial ship repair
Industrial production growth rate:
NA
Electricity — production:
6.09 billion kWh (2002 est.)
Electricity — consumption:
4.17 billion kWh (2002 est.)
Electricity — exports:
1.5 billion kWh (2002 est.)
Electricity — imports:
8 million kWh (2002 est.)
Oil — production:
24,000 bbl/day (2001 est.)
Oil — consumption:
14,000 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Oil — proved reserves:
1.54 billion bbl (1 January 2002 est.)
Natural gas — proved reserves:
104.8 billion cu m (1 January 2002 est.)
Exports:
$1.42 billion (f.o.b. 2002 est.)
Exports — commodities:
diamonds, copper, crude oil, coffee, cobalt
Exports — partners:
Belgium 47.8%, Finland 21%, , US 10.9%, China 7.6%, , (2004)
Imports:
$933 million (f.o.b. 2002 est.)
Imports — commodities:
foodstuffs, mining and other machinery, transport equipment, fuels
Imports — partners:
South Africa 18.5%, Belgium 15.5%, France 10.8%, US 6%, Germany 5.8%, Kenya 6.3% (2004)
Debt — external:
$11.6 billion (2000 est.)
Economic aid — recipient:
$195.3 million (1995 est.)
Currency:
Congolese franc (CDF)
Exchange rates:
Congolese francs per US$: 401.04 (2004 est.), 405.34 (2003 est.), 346.49 (2002 est.), 206.62 (2001 est.), 21.82 (2000 est.)
Fiscal year:
calendar year
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