Economy - overview The economy of Democratic Republic of the Congo - a nation endowed with vast potential wealth - has declined significantly since the mid-1980s. The new government has instituted a tight fiscal policy that has curbed inflation and currency depreciation. Plans are underway to introduce a new national currency. Most formal transactions are conducted in hard currency but a barter economy flourishes in all but the largest cities. Most individuals and families survive through subsistence farming or petty trade. International investors show renewed interest, especially in the mining and telecommunications sectors. However, poor infrastructure, an uncertain legal framework, corruption and lack of transparency in government economic policy remain a brake on investment and growth. A number of IMF and World Bank missions have met with the new government to help it develop a coherent economic plan.

GDP purchasing power parity - $18 billion (1996 est.)

GDP - real growth rate 1.5% (1996 est.)

GDP - per capita purchasing power parity - $400 (1996 est.)

GDP - composition by sector
agriculture: 59%
industry: 15%
services: 26% (1995 est.)

Inflation rate - consumer price index NA%

Labor force
total: 14.51 million (1993 est.)
by occupation: agriculture 65%, industry 16%, services 19% (1991 est.)

Unemployment rate NA%

Budget
revenues: $269 million
expenditures: $244 million, including capital expenditures of $24 million (1996 est.)

Industries mining, mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement, diamonds

Industrial production growth rate NA%

Electricity - capacity 2.831 million kW (1995)

Electricity - production 5.22 billion kWh (1995)

Electricity - consumption per capita 95 kWh (1995)

Agriculture - products coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products

Exports
total value: $1.9 billion (f.o.b., 1996 est.)
commodities: diamonds, copper, coffee, cobalt, crude oil
partners: Belgium, US, France, Germany, Italy, UK, Japan, South Africa

Imports
total value: $1.1 billion (c.i.f., 1996 est.)
commodities: consumer goods, foodstuffs, mining and other machinery, transport equipment, fuels
partners: Belgium, South Africa, US, France, Germany, Italy, Japan, UK

Debt - external $13.8 billion (1995 est.)

Economic aid
recipient: ODA, $NA

Currency 1 zaire (Z) = 100 makuta

Exchange rates new zaires (Z) per US$1 - 115,000 (January 1998), 83,764 (October 1996), 7,024 (1995), 1,194 (1994), 3 (1993)
note: on 22 October 1993 the new zaire, equal to 3,000,000 old zaires, was introduced

Fiscal year calendar year

NOTE: The information regarding Congo, Democratic Republic of the on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Congo, Democratic Republic of the Economy 1998 information contained here. All suggestions for corrections of any errors about Congo, Democratic Republic of the Economy 1998 should be addressed to the CIA.