About Congo and Key Financial Statistics









About Congo and Key Financial Statistics



Overview of Economy:

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 countrywide 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. Renewed activity in the mining sector, the source of most export income, has boosted Kinshasa's fiscal position and GDP growth in recent years. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the large 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. 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 twelfth consecutive year of positive economic expansion in 2014.



Gross Domestic Product (In USD):

$57.78 billion (2014 est.)
$52.92 billion (2013 est.)
$48.78 billion (2012 est.)



Composition of Gross Domestic Product:


% Agricuture: 21.2

% Industry: 33.2

% Services: 45.7


Composition of Labor Force by Occupation:

% Agriculture: NA%

% Industry: NA%

% Services: NA%


Per Capita Income:


$700 (2014 est.)
$700 (2013 est.)
$600 (2012 est.)


Exports:
$12.98 billion (2014 est.)
$11.61 billion (2013 est.)




Key Export Commodities:

diamonds, copper, gold, cobalt, wood products, crude oil, coffee



Export Partners:

China 39.3%, Zambia 24.7%, Italy 8.6%, Belgium 4.4% (2014)



Imports:

$11.98 billion (2014 est.)
$10.81 billion (2013 est.)



Key Import Commodities:

foodstuffs, mining and other machinery, transport equipment, fuels



Import Partners:

China 19.6%, South Africa 17.9%, Zambia 15.9%, Belgium 6.1%, Zimbabwe 4.9% (2014)



Inflation Rate (Consumer Price Index):

1% (2014 est.)
0.8% (2013 est.)




Exchange Rate to USD:

Congolese francs (CDF) per US dollar -
925.23 (2014 est.)
925.23 (2013 est.)
920.25 (2012 est.)
899 (2011 est.)
905.91 (2010 est.)




Unemployment Rate:

NA%


S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings