Congo, Democratic Republic of the Economy - 2005

Economy - overview:
The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - has declined drastically since the mid-1980s. The war, which began in August 1998, dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of perhaps 3.5 million people from war, famine, and disease. Foreign businesses curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. Conditions improved in late 2002 with the withdrawal of a large portion of the invading foreign troops. Several IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President KABILA has begun implementing reforms. Much economic activity lies outside the GDP data. Economic stability, aided by international donors, improved in 2003-04, although an uncertain legal framework, corruption, and a lack of openness in government policy continues to hamper growth. In 2005, renewed activity in the mining sector, the source of most exports, could boost Kinshasa's fiscal position and GDP growth.

GDP:
purchasing power parity - $42.74 billion (2004 est.)

GDP - real growth rate:
7.5% (2004 est.)

GDP - per capita:
purchasing power parity - $700 (2004 est.)

GDP - composition by sector:
agriculture: 55%
industry: 11%
services: 34% (2000 est.)

Labor force:
14.51 million (1993 est.)

Labor force - by occupation:
NA

Unemployment rate:
NA (2003 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
14% (2003 est.)

Budget:
revenues: $269 million
expenditures: $244 million, including capital expenditures of $24 million (1996 est.)

Agriculture - products:
coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products

Industries:
mining (diamonds, copper, zinc), mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement, commercial ship repair

Industrial production growth rate:
NA

Electricity - production:
6.086 billion kWh (2002)

Electricity - consumption:
4.168 billion kWh (2002)

Electricity - exports:
1.5 billion kWh (2002)

Electricity - imports:
8 million kWh (2002)

Oil - production:
24,000 bbl/day (2001 est.)

Oil - consumption:
14,000 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

Oil - proved reserves:
1.538 billion bbl (1 January 2002)

Natural gas - proved reserves:
104.8 billion cu m (1 January 2002)

Exports:
$1.417 billion f.o.b. (2002 est.)

Exports - commodities:
diamonds, copper, crude oil, coffee, cobalt

Exports - partners:
Belgium 42.5%, Finland 17.8%, Zimbabwe 12.2%, US 9.2%, China 6.5% (2004)

Imports:
$933 million f.o.b. (2002 est.)

Imports - commodities:
foodstuffs, mining and other machinery, transport equipment, fuels

Imports - partners:
South Africa 18.5%, Belgium 15.6%, France 10.9%, US 6.2%, Germany 5.9%, Kenya 4.9% (2004)

Debt - external:
$11.6 billion (2000 est.)

Economic aid - recipient:
$195.3 million (1995)

Currency (code):
Congolese franc (CDF)

Exchange rates:
Congolese francs per US dollar - 401.04 (2004), 405.34 (2003), 346.49 (2002), 206.62 (2001), 21.82 (2000)