Congo Democratic Republic of The Economy - 2024

Economic overview

very poor, large, natural resource-rich sub-Saharan country; possesses the world’s second largest rainforest; increasing Chinese extractive sector trade; massive decrease in government investments; increasing current account deficit and public debts

Real GDP (purchasing power parity)

$102.956 billion (2021 est.)
$96.945 billion (2020 est.)
$95.292 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

6.2% (2021 est.)
1.74% (2020 est.)
4.38% (2019 est.)

Real GDP per capita

$1,100 (2021 est.)
$1,000 (2020 est.)
$1,100 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$47.16 billion (2019 est.)

Inflation rate (consumer prices)

41.5% (2017 est.)
18.2% (2016 est.)

Credit ratings

Moody's rating: Caa1 (2019)

Standard & Poors rating: CCC+ (2017)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 19.7% (2017 est.)

industry: 43.6% (2017 est.)

services: 36.7% (2017 est.)

GDP - composition, by end use

household consumption: 78.5% (2017 est.)

government consumption: 12.7% (2017 est.)

investment in fixed capital: 15.9% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 25.7% (2017 est.)

imports of goods and services: -32.8% (2017 est.)

Agricultural products

cassava, plantains, sugar cane, maize, oil palm fruit, rice, roots/tubers nes, bananas, sweet potatoes, groundnuts

Industries

mining (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing, consumer products (textiles, plastics, footwear, cigarettes), metal products, processed foods and beverages, timber, cement, commercial ship repair

Industrial production growth rate

7.78% (2021 est.)

Labor force

33.382 million (2021 est.)

Unemployment rate

5.43% (2021 est.)
5.27% (2020 est.)
4.45% (2019 est.)

NA

Youth unemployment rate (ages 15-24)

total: 10.1% (2021 est.)

male: 12%

female: 8.5%

Population below poverty line

63% (2014 est.)

Gini Index coefficient - distribution of family income

42.1 (2012 est.)

Household income or consumption by percentage share

lowest 10%: 2.3%

highest 10%: 34.7% (2006)

Remittances

2.28% of GDP (2020 est.)
4.01% of GDP (2019 est.)
3.83% of GDP (2018 est.)

Budget

revenues: $5.419 billion (2019 est.)

expenditures: $6.382 billion (2019 est.)

Budget surplus (+) or deficit (-)

-0.9% (of GDP) (2017 est.)

Public debt

18.1% of GDP (2017 est.)
19.3% of GDP (2016 est.)

Taxes and other revenues

11.2% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$587.407 million (2021 est.)
-$1.052 billion (2020 est.)
-$1.693 billion (2019 est.)

Exports

$22.354 billion (2021 est.)
$13.932 billion (2020 est.)
$15.173 billion (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

China 53%, United Arab Emirates 11%, Saudi Arabia 6%, South Korea 5% (2019)

Exports - commodities

copper, cobalt, crude petroleum, tin, diamonds (2021)

Imports

$22.193 billion (2021 est.) note: data are in current year dollars
$14.557 billion (2020 est.) note: data are in current year dollars
$16.892 billion (2019 est.) note: data are in current year dollars

Imports - partners

China 29%, South Africa 15%, Zambia 12%, Rwanda 5%, Belgium 5%, India 5% (2019)

Imports - commodities

packaged medicines, refined petroleum, sulfuric acid, stone processing machines, delivery trucks (2019)

Reserves of foreign exchange and gold

$3.467 billion (31 December 2021 est.)
$747.655 million (31 December 2020 est.)
$1.194 billion (31 December 2019 est.)

Debt - external

$4.963 billion (31 December 2017 est.)
$5.35 billion (31 December 2016 est.)

Exchange rates

Congolese francs (CDF) per US dollar -

Exchange rates:
1,989.391 (2021 est.)
1,851.122 (2020 est.)
1,647.76 (2019 est.)
1,622.524 (2018 est.)
1,464.418 (2017 est.)