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Congo, Republic Of The Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Congo, Republic Of The Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

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 recent drop in oil prices has constrained government spending; lower oil prices forced the government to cut more than $1 billion in planned spending. In 2017, in the wake of a multi-year recession, the country reached out to the IMF for a new program; the IMF noted that low oil prices, unsustainable debt, and significant governance weakness are key impediments to the country’s economy. The fiscal deficit exceeded 18% of GDP in 2015, but had subsided to about 11% of GDP by 2017. The government’s inability to pay civil servant salaries has resulted in multiple rounds of protests by many groups, including doctors, nurses, and teachers.

GDP (purchasing power parity):
$29.16 billion (2017 est.) $30.26 billion (2016 est.) $31.13 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 135

GDP (official exchange rate):
$7.799 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-3.6% (2017 est.) -2.8% (2016 est.) 2.6% (2015 est.)
country comparison to the world: 217
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,700 (2017 est.) $7,100 (2016 est.) $7,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 162

Gross national saving:
13.5% of GDP (2017 est.) -26.3% of GDP (2016 est.) -2.2% of GDP (2015 est.)
country comparison to the world: 133
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 54.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.8%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 46.5%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 58.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -72.4% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 8.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 50.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 40.3% (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:
2% (2017 est.)
country comparison to the world: 136
[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: 209
[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)

Budget:
revenues: $2.516 billion
[see also: Budget - revenues country ranks ]
expenditures: $3.336 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
32.3% of GDP (2017 est.)
country comparison to the world: 72
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-10.5% of GDP (2017 est.)
country comparison to the world: 209
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
92.2% of GDP (2017 est.) 83.1% of GDP (2016 est.)
country comparison to the world: 23
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.4% (2017 est.) 3.6% (2016 est.)
country comparison to the world: 5
[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: 88
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14% (31 December 2017 est.) 14% (31 December 2016 est.)
country comparison to the world: 51
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.955 billion (31 December 2017 est.) $2.456 billion (31 December 2016 est.)
country comparison to the world: 120
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.581 billion (31 December 2017 est.) $3.037 billion (31 December 2016 est.)
country comparison to the world: 141
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.703 billion (31 December 2017 est.) $2.901 billion (31 December 2016 est.)
country comparison to the world: 142
[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:
-$1.243 billion (2017 est.) -$5.514 billion (2016 est.)
country comparison to the world: 140
[see also: Current account balance country ranks ]

Exports:
$5.238 billion (2017 est.) $4.116 billion (2016 est.)
country comparison to the world: 106
[see also: Exports country ranks ]

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

Exports - partners:
China 39.8%, Italy 10.2%, Australia 7%, Gabon 6.6%, Angola 6%, Singapore 4.2% (2016)

Imports:
$3.519 billion (2017 est.) $3.498 billion (2016 est.)
country comparison to the world: 137
[see also: Imports country ranks ]

Imports - commodities:
capital equipment, construction materials, foodstuffs

Imports - partners:
South Korea 18.2%, France 12.8%, China 12.2%, Norway 11.2%, Belgium 6.9% (2016)

Reserves of foreign exchange and gold:
$813.4 million (31 December 2017 est.) $727.1 million (31 December 2016 est.)
country comparison to the world: 132
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.197 billion (31 December 2017 est.) $4.721 billion (31 December 2016 est.)
country comparison to the world: 135
[see also: Debt - external 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 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Republic Of The Economy 2018 information contained here. All suggestions for corrections of any errors about Congo, Republic Of The Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The 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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