Overview: Oil has supplanted forestry as the mainstay of the economy, providing about two-thirds of government revenues and exports. In the early 1980s rapidly rising oil revenues enabled Congo to finance large-scale development projects with growth averaging 5% annually, one of the highest rates in Africa. The world decline in oil prices, however, has forced the government to launch an austerity program to cope with declining receipts and mounting foreign debts.

GDP: $2.26 billion, per capita $1,050; real growth rate 0.6% (1989 est.)

Inflation rate (consumer prices): 4.6% (1989 est.)

Unemployment rate: NA%

Budget: revenues $522 million; expenditures $767 million, including capital expenditures of $141 million (1989)

Exports: $751 million (f.o.b., 1988); commodities--crude petroleum 72%, lumber, plywood, coffee, cocoa, sugar, diamonds; partners--US, France, other EC

Imports: $564 million (c.i.f., 1988); commodities--foodstuffs, consumer goods, intermediate manufactures, capital equipment; partners--France, Italy, other EC, US, FRG, Spain, Japan, Brazil

External debt: $4.5 billion (December 1988)

Industrial production: growth rate 1.2% (1989); accounts for 33% of GDP, including petroleum

Electricity: 133,000 kW capacity; 300 million kWh produced, 130 kWh per capita (1989)

Industries: crude oil, cement, sawmills, brewery, sugar mill, palm oil, soap, cigarettes

Agriculture: accounts for 10% of GDP (including fishing and forestry); cassava accounts for 90% of food output; other crops--rice, corn, peanuts, vegetables; cash crops include coffee and cocoa; forest products important export earner; imports over 90% of food needs

Economic aid: US commitments, including Ex-Im (FY70-89), $60 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $2.2 billion; OPEC bilateral aid (1979-89), $15 million; Communist countries (1970-89), $338 million

Currency: Communaute Financiere Africaine franc (plural--francs); 1 CFA franc (CFAF) = 100 centimes

Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1--256.54 (January 1991), 272.26 (1990), 319.01 (1989), 297.85 (1988), 300.54 (1987), 346.30 (1986), 449.26 (1985)

Fiscal year: calendar year

NOTE: The information regarding Congo on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo Economy 1991 information contained here. All suggestions for corrections of any errors about Congo Economy 1991 should be addressed to the CIA.