Economy of the Democratic Republic of the Congo
Kinshasa, capital and economic center of the Democratic Republic of the Congo
|
|
| Currency | Congolese Franc (CDF) |
|---|---|
| Calendar Year | |
|
Trade organisations
|
AU, African Development Bank, SADC, World Bank, IMF, WTO, Group of 77 |
| Statistics | |
| GDP |
 $68.691 billion (PPP) (2016 est.)Rank: 114 (2012 est.) |
|
GDP growth
|
9% (2015 est.) |
|
GDP per capita
|
$754 (PPP) (2015 est.) Rank: 186 (2012 est.) |
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GDP by sector
|
agriculture (44.2%) industry (22.6%) services (33.1%) (2012 est.) |
|
4.1% (2015 est.) |
|
|
Population below poverty line
|
70% (2011 est.) |
|
Labour force
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35.86 million (2012 est.) |
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Labour force by occupation
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N/A |
| Unemployment | N/A |
|
Main industries
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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 |
| 184th (2017) | |
| External | |
| Exports |
$8.872 billion (2012 est.) |
|
Export goods
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gold, diamonds, copper, cobalt, coltan, zinc, tin, tungsten, crude oil, wood products, coffee |
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Main export partners
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 China 53.4% Zambia 24.5% Belgium 5.6% (2012 est.) |
| Imports |
$8.187 billion (2012 est.) |
|
Import goods
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machinery, transportation equipment, fuel, food |
|
Main import partners
|
 South Africa 21.4% China 15.1% Belgium 7.9% Zambia 7.5% Zimbabwe 6.1% Kenya 5.1% France 4.9% (2012 est.) |
|
Gross external debt
|
$6.089 billion (31 December 2012 est.) |
| Public finances | |
| Revenues | $5.941 billion (2014 est.) |
| Expenses | $5.537 billion (2012 est.) |
|
Foreign reserves
|
$1.633 billion (31 December 2012 est.) |
Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth. Its untapped deposits of raw minerals are estimated to be worth in excess of US$24 trillion. Despite this, the economy has declined drastically since the mid-1980s.
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. Since then, corruption, war and political instability have been a severe detriment to further growth, today leaving DRC with a GDP per capita among the world's lowest.
The two recent conflicts (the First and Second Congo Wars), which began in 1996, have dramatically reduced national output and government revenue, have increased external debt, and have resulted in deaths of more than five million people from war, and associated famine and disease. Malnutrition affects approximately two thirds of the country's population.
Agriculture is the mainstay of the economy, accounting for 57.9% of GDP in 1997. In 1996, agriculture employed 66% of the work force.
Rich in minerals, the Democratic Republic of the Congo has a difficult history of predatory mineral extraction, which has been at the heart of many struggles within the country for many decades, but particularly in the 1990s. The economy of the third largest country in Africa relies heavily on mining. However, much economic activity occurs in the informal sector and is not reflected in GDP data.
In 2006 Transparency International ranked the Democratic Republic of the Congo 156 out of 163 countries in the Corruption Perception Index, tying Bangladesh, Chad, and Sudan with a 2.0 rating.President Joseph Kabila established the Commission of Repression of Economic Crimes upon his ascension to power in 2001.
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