Congo, Democratic Republic of the Economy - 2006

Economy - overview:
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 violence, 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. The transitional government has reopened relations with international financial institutions and international donors, and President KABILA has begun implementing reforms. Much economic activity lies outside the GDP data. Economic stability improved in 2003-05, 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, boosted Kinshasa's fiscal position and GDP growth. Business and economic prospects are expected to improve once a new government is installed after elections.

GDP (purchasing power parity):
$46.37 billion (2005 est.)

GDP (official exchange rate):
$7.358 billion (2005 est.)

GDP - real growth rate:
6.5% (2005 est.)

GDP - per capita (PPP):
$800 (2005 est.)

GDP - composition by sector:
agriculture: 55%
industry: 11%
services: 34% (2000 est.)

Labor force:
NA

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
NA%

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
9% (2004 est.)

Budget:
revenues: $700 million
expenditures: $750 million; including capital expenditures of $24 million (2004 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:
6.036 billion kWh (2003)

Electricity - consumption:
4.324 billion kWh (2003)

Electricity - exports:
1.3 billion kWh (2003)

Electricity - imports:
10 million kWh (2003)

Oil - production:
22,000 bbl/day (2003)

Oil - consumption:
8,300 bbl/day (2003 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Oil - proved reserves:
1.538 billion bbl (1 January 2002)

Natural gas - production:
0 cu m (2003 est.)

Natural gas - consumption:
0 cu m (2003 est.)

Natural gas - proved reserves:
991.1 million cu m (1 January 2002)

Exports:
$1.108 billion f.o.b. (2004 est.)

Exports - commodities:
diamonds, copper, crude oil, coffee, cobalt

Exports - partners:
Belgium 47.5%, Finland 20.8%, US 10.9%, China 7.5% (2004)

Imports:
$1.319 billion f.o.b. (2004 est.)

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

Imports - partners:
South Africa 17.1%, Belgium 14.4%, France 10%, Zambia 8.4%, Kenya 5.9%, US 5.5%, Germany 5.4% (2004)

Debt - external:
$10.6 billion (2003 est.)

Economic aid - recipient:
$2.2 billion (FY03/04)

Currency (code):
Congolese franc (CDF)

Exchange rates:
Congolese francs per US dollar - 437.86 (2005), 401.04 (2004), 405.34 (2003), 346.49 (2002), 206.62 (2001)