Economy of the Republic of the Congo

Economy of Republic of the Congo
	Brazzaville is the economic center of the Republic of Congo;
Currency	Central African CFA Franc (XOF)
Fixed exchange rates	1 USD = 511.4 XOF (2012)
Fiscal year	calendar year
Trade organisations	AU, WTO, AfCFTA, ECCAS
Country group	Developing/Emerging; Lower-middle income economy;
Statistics
Population	5,244,363 (2018)
GDP	$11.576 billion (nominal, 2019 est.); $32.768 billion (PPP, 2019 est.);
GDP rank	137th (nominal, 2019); 128th (PPP, 2019);
GDP growth	−1.8% (2017) 1.6% (2018); 2.2% (2019e) 4.6% (2020f);
GDP per capita	$2,534 (nominal, 2019 est.); $7,174 (PPP, 2019 est.);
GDP per capita rank	134th (nominal, 2019); 126th (PPP, 2019);
GDP by sector	agriculture: 4.9%; industry: 69.8%; services: 25.3%; (2016);
Inflation (CPI)	1.8% (2020 est.)
Population below poverty line	40.9% (2011); 61.3% on less than $3.20/day (2011);
Gini coefficient	48.9 high (2011)
Human Development Index	0.571 medium (2021) (153rd); 0.432 low IHDI (2021);
Labour force	2,173,950 (2019); 48.4% employment rate (2009);
Labour force by occupation	N/A
Unemployment	53% (2012)
Main industries	petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes
External
Exports	$12.35 billion (2012)
Export goods	petroleum, lumber, plywood, sugar, cocoa, coffee, diamonds
Main export partners	United Arab Emirates 26%; China 16.6%; Greece 7.87%; Vietnam 7.73% (2021);
Imports	$4.751 billion (2012)
Import goods	capital equipment, construction materials, foodstuffs
Main import partners	China 20.4%; France 9.28%; Belgium 4.88%; India 4.65% (2021);
Gross external debt	4.225 billion (2012)
Public finances
Revenues	$8.05 billion (2012)
Expenses	$5.93 billion (2012)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

The economy of the Republic of the Congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services. Government spending^[15] is characterized by budget problems and overstaffing. Petroleum has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports.^[15] Nowadays the Republic of the Congo is increasingly converting natural gas to electricity rather than burning it, greatly improving energy prospects.^[15]

^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved September 29, 2019.
^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved September 29, 2019.
^ "Population, total – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.
^ ^a ^b ^c ^d ^e "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved December 6, 2019.
^ "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved March 3, 2020.
^ "Poverty headcount ratio at national poverty lines (% of population) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.
^ "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.
^ "GINI index (World Bank estimate) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.
^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved November 23, 2022.
^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved November 23, 2022.
^ "Labor force, total – Congo, Rep". data.worldbank.org. World Bank & ILO. Retrieved March 3, 2020.
^ "Employment to population ratio, 15+, total (%) (national estimate) – Congo, Rep". data.worldbank.org. World Bank & ILO. Retrieved March 3, 2020.
^ "Export Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.
^ "Import Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.
^ ^a ^b ^c CIA. "The World Factbook". Retrieved July 9, 2013.

[1] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved September 29, 2019.

[2] "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved September 29, 2019.

[3] "Population, total – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.

[IMFWEOCG-4] "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved December 6, 2019.

[World_Bank-5] "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved March 3, 2020.

[6] "Poverty headcount ratio at national poverty lines (% of population) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.

[7] "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.

[8] "GINI index (World Bank estimate) – Congo, Rep". data.worldbank.org. World Bank. Retrieved March 3, 2020.

[9] "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved November 23, 2022.

[10] "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved November 23, 2022.

[11] "Labor force, total – Congo, Rep". data.worldbank.org. World Bank & ILO. Retrieved March 3, 2020.

[12] "Employment to population ratio, 15+, total (%) (national estimate) – Congo, Rep". data.worldbank.org. World Bank & ILO. Retrieved March 3, 2020.

[OECExport-13] "Export Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.

[OECImport-14] "Import Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.

[CIAWFTB-15] CIA. "The World Factbook". Retrieved July 9, 2013.

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