Economy Of Congo, Democratic Republic of the
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Economy overview
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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, has dramatically reduced national output and government revenue, has increased external debt, and has resulted in the deaths from war, famine, and disease of perhaps 3.5 million people. Foreign businesses have curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. The war has intensified the impact of such basic problems as an uncertain legal framework, corruption, inflation, and lack of openness in government economic policy and financial operations. 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. New mining contracts have been approved, which - combined with high mineral and metal prices - could improve Kinshasa's fiscal position and GDP growth.
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GDP
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purchasing power parity - $40.05 billion (2004 est.)
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GDP - real growth rate
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6.5% (2004 est.)
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GDP - per capita
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purchasing power parity - $700 (2004 est.)
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GDP - composition by sector
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agriculture: 55%
industry: 11%
services: 34% (2000 est.)
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Investment gross fixed
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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14% (2003 est.)
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Labor force
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14.51 million (1993 est.)
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Labor force by occupation
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NA
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Unemployment rate
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NA (2003 est.)
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Budget
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revenues: $269 million
expenditures: $244 million, including capital expenditures of $24 million (1996 est.)
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Public debt
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Agriculture products
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coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products
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Industries
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mining (diamonds, copper, zinc), mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement
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Industrial production growth rate
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NA
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Electricity production
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5.243 billion kWh (2001)
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Electricity production by source
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fossil fuel: 1.8%
hydro: 98.2%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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3.839 billion kWh (2001)
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Electricity exports
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1.097 billion kWh (2001)
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Electricity imports
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60 million kWh (2001)
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Oil production
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24,000 bbl/day (2001 est.)
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Oil consumption
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14,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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1.538 billion bbl (1 January 2002)
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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104.8 billion cu m (1 January 2002)
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Current account balance
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Exports
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$1.417 billion f.o.b. (2002 est.)
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Exports commodities
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diamonds, copper, crude oil, coffee, cobalt
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Exports partners
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Belgium 54.9%, US 15.4%, Zimbabwe 11.1%, Finland 4.8% (2003)
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Imports
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$933 million f.o.b. (2002 est.)
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Imports commodities
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foodstuffs, mining and other machinery, transport equipment, fuels
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Imports partners
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South Africa 17%, Belgium 14.9%, France 12.6%, Germany 6.8%, Kenya 5.4%, Netherlands 4% (2003)
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Reserves of foreign exchange gold
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Debt external
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$11.6 billion (2000 est.)
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Economic aid recipient
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$195.3 million (1995)
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Currency
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Congolese franc (CDF)
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Currency code
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CDF
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Exchange rates
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Congolese francs per US dollar - NA (2003), 346.485 (2002), 206.617 (2001), 21.82 (2000), 4.02 (1999)
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Fiscal year
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calendar year
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This information was reproduced in part from the CIA World Fact book.
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