unbekannter Gast

Republic of the Congo: Economy#

The economy is a mixture of subsistence hunting and agriculture, 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, that entered production in late 2013 may add as much as $1 billion to annual government revenue. Economic reform efforts have been undertaken with the support of international organizations, notably the World Bank and the IMF, including recently concluded Article IV consultations. The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices during the global crisis reduced oil revenue by about 30%, but the subsequent recovery of oil prices boosted the economy's GDP from 2009-13. Officially the country became a net external creditor as of 2011, with external debt representing only about 16% of GDP and debt servicing less than 3% of government revenue.

Economic Facts#

GDP (purchasing power parity)$20.26 billion (2013 est.)
$19.15 billion (2012 est.)
$18.44 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate5.8% (2013 est.)
3.8% (2012 est.)
3.4% (2011 est.)
GDP - per capita (PPP)$4,800 (2013 est.)
$4,700 (2012 est.)
$4,600 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 3.3%
industry: 73.9%
services: 22.9% (2013 est.)
Population below poverty line46.5% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 2.1%
highest 10%: 37.1% (2005)
Exports - commoditiespetroleum, lumber, plywood, sugar, cocoa, coffee, diamonds
Exports - partnersChina 39%, US 13%, France 9.5%, Australia 8.8%, Netherlands 6.8%, Spain 5.3%, India 5.2% (2012)
Agriculture - productscassava (manioc, tapioca), sugar, rice, corn, peanuts, vegetables, coffee, cocoa; forest products
Budgetrevenues: $6.608 billion
expenditures: $4.618 billion (2013 est.)
Imports - commoditiescapital equipment, construction materials, foodstuffs
Imports - partnersFrance 19.5%, China 13.5%, Brazil 9.1%, US 6.1%, India 5.8%, Italy 4.8%, Belgium 4.4% (2012)
Exchange ratesCooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
Exports$9.912 billion (2013 est.)
$10.53 billion (2012 est.)
Debt - external$3.274 billion (31 December 2013 est.)
$2.999 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$4.297 billion (2013 est.)
$4.45 billion (2012 est.)
Industrial production growth rate2% (2013 est.)
Industriespetroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes
Inflation rate (consumer prices)1.7% (2013 est.)
3.9% (2012 est.)
Labor force2.89 million (2011 est.)
Unemployment rate53% (2012 est.)
Public debt32.1% of GDP (2013 est.)
31.8% of GDP (2012 est.)
Current account balance$638.2 million (2013 est.)
$187.9 million (2012 est.)
Reserves of foreign exchange and gold$5.239 billion (31 December 2013 est.)
$5.568 billion (31 December 2012 est.)
GDP (official exchange rate)$14.25 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate4.25% (31 December 2009)
4.75% (31 December 2008)
Commercial bank prime lending rate14.8% (31 December 2013 est.)
14.8% (31 December 2012 est.)
Stock of domestic credit$-1.053 billion (31 December 2013 est.)
$-1.448 billion (31 December 2012 est.)
Stock of narrow money$4.678 billion (31 December 2013 est.)
$4.403 billion (31 December 2012 est.)
Stock of broad money$5.119 billion (31 December 2013 est.)
$4.795 billion (31 December 2012 est.)
Taxes and other revenues46.4% of GDP (2013 est.)
Budget surplus (+) or deficit (-)14% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 24.8%
government consumption: 11.1%
investment in fixed capital: 55.4%
investment in inventories: 0.9%
exports of goods and services: 91.8%
imports of goods and services: -84.1%
(2013 est.)
Gross national saving61.4% of GDP (2013 est.)
56.2% of GDP (2012 est.)
61.3% of GDP (2011 est.)