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Congo, Republic Of The Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Congo, Republic Of The Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
The Republic of the Congo’s economy is a mixture of subsistence farming, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects. New mining projects, particularly iron ore, which entered production in late 2013, may add as much as $1 billion to annual government revenue. The Republic of the Congo is a member of the Central African Economic and Monetary Community (CEMAC) and shares a common currency – the Central African Franc – with five other member states in the region.

The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices that began in 2014 has constrained government spending; lower oil prices forced the government to cut more than $1 billion in planned spending. The fiscal deficit amounted to 11% of GDP in 2017. The government’s inability to pay civil servant salaries has resulted in multiple rounds of strikes by many groups, including doctors, nurses, and teachers. In the wake of a multi-year recession, the country reached out to the IMF in 2017 for a new program; the IMF noted that the country’s continued dependence on oil, unsustainable debt, and significant governance weakness are key impediments to the country’s economy. In 2018, the country’s external debt level will approach 120% of GDP. The IMF urged the government to renegotiate debts levels to sustainable levels before it agreed to a new macroeconomic adjustment package.

GDP (purchasing power parity):
$29.39 billion (2017 est.)
$30.33 billion (2016 est.)
$31.22 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 133
[see also: GDP country ranks ]

GDP (official exchange rate):
$8.718 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-3.1% (2017 est.)
-2.8% (2016 est.)
2.6% (2015 est.)
country comparison to the world: 212
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,800 (2017 est.)
$7,200 (2016 est.)
$7,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 161
[see also: GDP - per capita country ranks ]

Gross national saving:
19.5% of GDP (2017 est.)
-12.8% of GDP (2016 est.)
6.6% of GDP (2015 est.)
country comparison to the world: 101
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 47.6% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 9.6% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 42.5% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 62.9% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -62.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 9.3% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 51% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 39.7% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cassava (manioc, tapioca), sugar, rice, corn, peanuts, vegetables, coffee, cocoa; forest products

Industries:
petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes

Industrial production growth rate:
-3% (2017 est.)
country comparison to the world: 187
[see also: Industrial production growth rate country ranks ]

Labor force:
2.055 million (2016 est.)
country comparison to the world: 124
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 35.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 44% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
36% (2014 est.)
country comparison to the world: 211
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.5% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.1% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
48.9 (2011 est.)
country comparison to the world: 20
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 1.965 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 2.578 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
22.5% (of GDP) (2017 est.)
country comparison to the world: 132
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7% (of GDP) (2017 est.)
country comparison to the world: 194
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
130.8% of GDP (2017 est.)
128.7% of GDP (2016 est.)
country comparison to the world: 7
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.5% (2017 est.)
3.2% (2016 est.)
country comparison to the world: 26
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
4.75% (31 December 2008)
country comparison to the world: 92
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.6% (31 December 2017 est.)
14% (31 December 2016 est.)
country comparison to the world: 44
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.585 billion (31 December 2017 est.)
$2.456 billion (31 December 2016 est.)
country comparison to the world: 126
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.585 billion (31 December 2017 est.)
$2.456 billion (31 December 2016 est.)
country comparison to the world: 133
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.036 billion (31 December 2017 est.)
$2.901 billion (31 December 2016 est.)
country comparison to the world: 139
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.128 billion (2017 est.)
-$5.735 billion (2016 est.)
country comparison to the world: 145
[see also: Current account balance country ranks ]

Exports:
$4.193 billion (2017 est.)
$4.116 billion (2016 est.)
country comparison to the world: 116
[see also: Exports country ranks ]

Exports - partners:
China 53.8%, Angola 6.2%, Gabon 5.7%, Italy 5.4%, Spain 5.4%, Australia 4.8% (2017)

Exports - commodities:
petroleum, lumber, plywood, sugar, cocoa, coffee, diamonds

Imports:
$2.501 billion (2017 est.)
$5.639 billion (2016 est.)
country comparison to the world: 158
[see also: Imports country ranks ]

Imports - commodities:
capital equipment, construction materials, foodstuffs

Imports - partners:
France 15%, China 14%, Belgium 12.2%, Norway 8.1% (2017)

Reserves of foreign exchange and gold:
$505.7 million (31 December 2017 est.)
$727.1 million (31 December 2016 est.)
country comparison to the world: 151
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.605 billion (31 December 2017 est.)
$4.721 billion (31 December 2016 est.)
country comparison to the world: 135
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
NA
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
579.8 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)

NOTE: 1) The information regarding Congo, Republic Of The on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Republic Of The Economy 2019 information contained here. All suggestions for corrections of any errors about Congo, Republic Of The Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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