Economy of the Republic of the Congo

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

Economy of Republic of the Congo
Brazzaville is the economic center of the Republic of Congo;
CurrencyCentral African CFA Franc (XOF)
1 USD = 511.4 XOF (2012)
calendar year
Trade organisations
AU, WTO, AfCFTA, ECCAS
Country group
Statistics
PopulationIncrease 5,244,363 (2018)[3]
GDP
  • Decrease $11.576 billion (nominal, 2019 est.)[4]
  • Increase $32.768 billion (PPP, 2019 est.)[4]
GDP rank
GDP growth
  • −1.8% (2017) 1.6% (2018)
  • 2.2% (2019e) 4.6% (2020f)[5]
GDP per capita
  • Decrease $2,534 (nominal, 2019 est.)[4]
  • Increase $7,174 (PPP, 2019 est.)[4]
GDP per capita rank
GDP by sector
1.8% (2020 est.)[4]
Population below poverty line
  • 40.9% (2011)[6]
  • 61.3% on less than $3.20/day (2011)[7]
48.9 high (2011)[8]
Labour force
  • Increase 2,173,950 (2019)[11]
  • 48.4% employment rate (2009)[12]
Labour force by occupation
N/A
Unemployment53% (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
Imports$4.751 billion (2012)
Import goods
capital equipment, construction materials, foodstuffs
Main import partners
4.225 billion (2012)
Public finances
Revenues$8.05 billion (2012)
Expenses$5.93 billion (2012)
All values, unless otherwise stated, are in US dollars.
Cassava is an important food crop in the Republic of Congo.

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]

  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.
  4. ^ a b c d e "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved December 6, 2019.
  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.
  13. ^ "Export Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.
  14. ^ "Import Partners of the Republic of the Congo". The Observatory of Economic Complexity. Retrieved April 21, 2023.
  15. ^ a b c CIA. "The World Factbook". Retrieved July 9, 2013.