Main Crops: cobalt, copper, cadmium, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, germanium, uranium, radium,bauxite, iron ore, coal, hydropower potential, timber .
Natural Resources: Cobalt, copper, cadmium, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, germanium, uranium, radium,bauxite, iron ore, coal, hydropower potential, timber.
Major Industries: Mining, mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement, diamonds
The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - continues to perform poorly. Systemic corruption since independence in 1960, combined with countrywide instability and intermittent conflict that began in the early-90s, has 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 government reopened relations with international financial institutions and international donors, and President KABILA began implementing reforms. Progress on implementing substantive economic reforms remains slow because of political instability, bureaucratic inefficiency, corruption, and patronage, which also dampen international investment prospects.
Renewed activity in the mining sector, the source of most export income, boosted Kinshasa's fiscal position and GDP growth until 2015, but low commodity prices have led to slower growth, volatile inflation, currency depreciation, and a growing fiscal deficit. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the large 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.
Poverty remains widespread in DRC, and the country failed to meet any Millennium Development Goals by 2015. DRC also concluded its program with the IMF in 2015. The price of copper – the DRC’s primary export - plummeted in 2015 and remained at record lows during 2016-17, reducing government revenues, expenditures, and foreign exchange reserves, while inflation reached nearly 50% in mid-2017 – its highest level since the early 2000s.
|GNI, Atlas method (current US$) (billions)||..||6.35||20.43||49.31|
|GNI per capita, Atlas method (current US$)||..||130||320||550|
|GNI, PPP (current international $) (billions)||..||20.63||39.2||98.72|
|GNI per capita, PPP (current international $)||..||440||610||1,100|
|GDP (current US$) (billions)||9.35||19.09||21.57||49.87|
|GDP growth (annual %)||-6.6||-6.9||7.1||0.8|
|Inflation, GDP deflator (annual %)||109||2,630.10||20.8||10.3|
|Agriculture, forestry, and fishing, value added (% of GDP)||..||32||21||20|
|Industry (including construction), value added (% of GDP)||..||22||39||41|
|Exports of goods and services (% of GDP)||..||11||41||32|
|Imports of goods and services (% of GDP)||..||16||50||34|
|Gross capital formation (% of GDP)||0||14||29||23|
|Revenue, excluding grants (% of GDP)||11.4||..||..||..|
|Net lending (+) / net borrowing (-) (% of GDP)||0||..||..||..|
|States and markets|
|Time required to start a business (days)||..||167||85||7|
|Domestic credit provided by financial sector (% of GDP)||..||..||..||..|
|Tax revenue (% of GDP)||10.7||..||..||..|
|Military expenditure (% of GDP)||5.2||0.2||0.9||0.7|
|Mobile cellular subscriptions (per 100 people)||0||0||18.3||45.6|
|Individuals using the Internet (% of population)||0||0||0.7||12.5|
|High-technology exports (% of manufactured exports)||..||..||..||..|
|Statistical Capacity Score (Overall Average) (scale 0 - 100)||..||..||36||40|
|Merchandise trade (% of GDP)||43||8||45||31|
|Net barter terms of trade index (2000 = 100)||86||100||143||125|
|External debt stocks, total (DOD, current US$) (millions)||10,251||11,804||6,137||6,137|
|Total debt service (% of exports of goods, services and primary income)||..||..||3.1||2.3|
|Net migration (thousands)||1,287||-242||15||119|
|Personal remittances, received (current US$) (millions)||..||..||16||1,109|
|Foreign direct investment, net inflows (BoP, current US$) (millions)||-14||94||2,742||1,351|
|Net official development assistance received (current US$) (millions)||895.8||178.4||3,483.60||3,025.50|