Economy of the Democratic Republic of the Congo

Not to be confused with Economy of the Republic of the Congo.

Economy of Democratic Republic of Congo
Kinshasa, capital and economic center of the Democratic Republic of the Congo
CurrencyCongolese Franc (CDF)
Calendar year
Trade organisations
AU, AfCFTA (signed), AfDB, SADC, COMESA, ECCAS, SADC, WTO, Group of 77
Country group
Statistics
PopulationIncrease 95,894,118 (2021)[3]
GDP
  • Increase $69.474 billion (nominal, 2023 est.)[4]
  • Increase $147.348 billion (PPP, 2023 est.)[4]
GDP rank
GDP growth
  • 1.7% (2020) 6.2% (2021)
  • 6.6% (2022e) 6.3% (2023f)[5]
GDP per capita
  • Increase $695 (nominal, 2023 est.)[4]
  • Increase $1,474 (PPP, 2023 est.)[4]
GDP per capita rank
GDP by sector
5.0% (2020 est.)[4]
Population below poverty line
  • 63.9% (2012)[6]
  • 76.6% on less than $1.90/day (2012)[7]
42.1 medium (2012)[8]
Steady 20 out of 100 points (2023, 162nd rank)
Labour force
  • Increase 29,699,289 (2019)[11]
  • 63.1% employment rate (2012)[12]
Labour force by occupation
N/A
Unemployment4.5% (2022)
Main industries
mining (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing, consumer products (including textiles, plastics, footwear, cigarettes, processed foods, beverages), metal products, lumber, cement, commercial ship repair
External
ExportsIncrease $8.872 billion (2012 est.)
Export goods
gold, diamonds, copper, cobalt, coltan, zinc, tin, tungsten, crude oil, wood products, coffee
Main export partners
ImportsIncrease $8.187 billion (2012 est.)
Import goods
machinery, transportation equipment, fuel, food
Main import partners
Increase $6.089 billion (31 December 2012 est.)
Public finances
Revenues$4.943 billion (2018 est.)
Expenses$5.198 billion (2018 est.)
Increase $1.633 billion (31 December 2012 est.)
All values, unless otherwise stated, are in US dollars.

The economy of the Democratic Republic of the Congo has declined drastically around the 1980s,[15] despite being home to vast potential in natural resources and mineral wealth; their gross domestic product is $69.474 billion as of 2023. During the last five reported years the exports of Democratic Republic of the Congo have changed by $15.2B from $13.3B in 2017 to $28.5B in 2022. The Economy of DRC is largely underestimated because the majority of Gold/Cobalt is sold on Black Market or Smuggled.

At the time of its independence in 1960, the Democratic Republic of the Congo was the second most industrialized country in Africa after South Africa. It boasted a thriving mining sector and its agriculture sector was relatively productive.[16] Since then, decades of corruption, war, and political instability have been a severe detriment to further growth, today leaving DRC with a GDP per capita and a HDI rating that rank among the world's lowest and make the DRC one of the most fragile and, according to the United Nations, least developed countries in the world.

Despite this the DRC is quickly modernizing; it tied with Malaysia for the largest positive change in HDI development in 2016. Government projects include strengthening the health system for maternal and child health, expansion of electricity access, water supply reconstructions, and urban and social rehabilitation programs.

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Population, total - Congo, Dem. Rep". data.worldbank.org. World Bank. Retrieved 3 March 2020.
  4. ^ a b c d e "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 6 December 2019.
  5. ^ "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 23 January 2020.
  6. ^ "Poverty headcount ratio at national poverty lines (% of population) - Congo, Dem. Rep". data.worldbank.org. World Bank. Retrieved 3 March 2020.
  7. ^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Congo, Dem. Rep". data.worldbank.org. World Bank. Retrieved 3 March 2020.
  8. ^ "GINI index (World Bank estimate) - Congo, Dem. Rep". data.worldbank.org. World Bank. Retrieved 3 March 2020.
  9. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  10. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  11. ^ "Labor force, total - Congo, Dem. Rep". data.worldbank.org. World Bank & ILO. Retrieved 3 March 2020.
  12. ^ "Employment to population ratio, 15+, total (%) (national estimate) - Congo, Dem. Rep". data.worldbank.org. World Bank & ILO. Retrieved 3 March 2020.
  13. ^ "Export Partners of the Democratic Republic of the Congo". The Observatory of Economic Complexity. Retrieved 21 April 2023.
  14. ^ "Import Partners of the Democratic Republic of the Congo". The Observatory of Economic Complexity. Retrieved 21 April 2023.
  15. ^ Public Domain This article incorporates text from this source, which is in the public domain: "Congo, Democratic Republic of the". The World Factbook. Central Intelligence Agency. Archived from the original on 18 October 2000.
  16. ^ Centre National d'Appui au Développement et à la Participation Paysanne CENADEP (23 October 2009). Province orientale :le diamant et l'or quelle part dans la reconstruction socio - économique de la Province ? (Report). Archived from the original on 25 November 2009.