unbekannter Gast

Democratic Republic of the Congo: Economy#

The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - is slowly recovering after decades of decline. Systemic corruption since independence in 1960, combined with country-wide instability and conflict that began in the mid-90s has dramatically reduced national output and government revenue and increased external debt. With the installation of a transitional government in 2003 after peace accords, economic conditions slowly began to improve as the transitional government reopened relations with international financial institutions and international donors, and President KABILA began implementing reforms. Progress has been slow to reach the interior of the country although clear changes are evident in Kinshasa and Lubumbashi. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the mining sector and for the economy as a whole. Much economic activity still occurs in the informal sector and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, has boosted Kinshasa's fiscal position and GDP growth in recent years. The global recession cut economic growth in 2009 to less than half its 2008 level, but growth returned to around 7% per year in 2010-12. The DRC signed a Poverty Reduction and Growth Facility with the IMF in 2009 and received $12 billion in multilateral and bilateral debt relief in 2010, but the IMF at the end of 2012 suspended the last three payments under the loan facility - worth $240 million - because of concerns about the lack of transparency in mining contracts. In 2012, the DRC updated its business laws by adhering to OHADA, the Organization for the Harmonization of Business Law in Africa. The country marked its tenth consecutive year of positive economic expansion in 2012.

Economic Facts#

GDP (purchasing power parity)$29.39 billion (2013 est.)
$27.66 billion (2012 est.)
$25.82 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate6.2% (2013 est.)
7.2% (2012 est.)
6.9% (2011 est.)
GDP - per capita (PPP)$400 (2013 est.)
$400 (2012 est.)
$400 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 44.3%
industry: 21.7%
services: 34% (2013 est.)
Population below poverty line71% (2006 est.)
Household income or consumption by percentage sharelowest 10%: 2.3%
highest 10%: 34.7% (2006)
Labor force - by occupationagriculture: NA%
industry: NA%
services: NA%
Exports - commoditiesdiamonds, copper, gold, cobalt, wood products, crude oil, coffee
Exports - partnersChina 54.3%, Zambia 22.6%, Belgium 5.7% (2012)
Agriculture - productscoffee, sugar, palm oil, rubber, tea, cotton, cocoa, quinine, cassava (manioc), bananas, plantains, peanuts, root crops, corn, fruits; wood products
Budgetrevenues: $5.817 billion
expenditures: $6.472 billion (2013 est.)
Imports - commoditiesfoodstuffs, mining and other machinery, transport equipment, fuels
Imports - partnersSouth Africa 22.3%, China 15.3%, Belgium 8%, Zambia 6.9%, Zimbabwe 5.6%, France 4.9%, Kenya 4.7% (2012)
Exchange ratesCongolese francs (CDF) per US dollar -
918 (2013 est.)
920.25 (2012 est.)
905.91 (2010 est.)
472.19 (2009)
559 (2008)
Exports$9.936 billion (2013 est.)
$8.872 billion (2012 est.)
Debt - external$6.874 billion (31 December 2013 est.)
$6.087 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$8.924 billion (2013 est.)
$8.187 billion (2012 est.)
Industrial production growth rate12% (2013 est.)
Industriesmining (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
Inflation rate (consumer prices)7.1% (2013 est.)
9.5% (2012 est.)
Labor force35.18 million (2013 est.)
Unemployment rateNA%
Current account balance-$2.544 billion (2013 est.)
-$2.254 billion (2012 est.)
Reserves of foreign exchange and gold$1.582 billion (31 December 2013 est.)
$1.633 billion (31 December 2012 est.)
GDP (official exchange rate)$18.56 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate4% (31 December 2012 est.)
20% (31 December 2011 est.)
Commercial bank prime lending rate18.6% (31 December 2013 est.)
28.45% (31 December 2012 est.)
Stock of domestic credit$1.862 billion (31 December 2013 est.)
$1.708 billion (31 December 2012 est.)
Stock of narrow money$1.06 billion (31 December 2013 est.)
$986.6 million (31 December 2012 est.)
Stock of broad money$3.502 billion (31 December 2013 est.)
$3.042 billion (31 December 2012 est.)
Taxes and other revenues31.3% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-3.5% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 65.9%
government consumption: 12.5%
investment in fixed capital: 27.9%
investment in inventories: 1%
exports of goods and services: 49.9%
imports of goods and services: -56.3%
(2013 est.)