Economy of the Republic of the Congo

Economy of Republic of the Congo
	Brazzaville is the economic center of the Republic of Congo;
Currency	Central African CFA Franc (XOF)
Fixed exchange rates	1 USD = 511.4 XOF (2012)
Fiscal year	calendar year
Trade organisations	AU, WTO, AfCFTA, ECCAS
Country group	Developing/Emerging; Lower-middle income economy;
Statistics
Population	5,244,363 (2018)
GDP	$11.576 billion (nominal, 2019 est.); $32.768 billion (PPP, 2019 est.);
GDP rank	137th (nominal, 2019); 128th (PPP, 2019);
GDP growth	−1.8% (2017) 1.6% (2018); 2.2% (2019e) 4.6% (2020f);
GDP per capita	$2,534 (nominal, 2019 est.); $7,174 (PPP, 2019 est.);
GDP per capita rank	134th (nominal, 2019); 126th (PPP, 2019);
GDP by sector	agriculture: 4.9%; industry: 69.8%; services: 25.3%; (2016);
Inflation (CPI)	1.8% (2020 est.)
Population below poverty line	40.9% (2011); 61.3% on less than $3.20/day (2011);
Gini coefficient	48.9 high (2011)
Human Development Index	0.571 medium (2021) (153rd); 0.432 low IHDI (2021);
Labour force	2,173,950 (2019); 48.4% employment rate (2009);
Labour force by occupation	N/A
Unemployment	53% (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	United Arab Emirates 26%; China 16.6%; Greece 7.87%; Vietnam 7.73% (2021);
Imports	$4.751 billion (2012)
Import goods	capital equipment, construction materials, foodstuffs
Main import partners	China 20.4%; France 9.28%; Belgium 4.88%; India 4.65% (2021);
Gross external debt	4.225 billion (2012)
Public finances
Revenues	$8.05 billion (2012)
Expenses	$5.93 billion (2012)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

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 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. Nowadays the Republic of the Congo is increasingly converting natural gas to electricity rather than burning it, greatly improving energy prospects.

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