Republic of the Congo - Economy
How is the economy of Republic of the Congo? Based on the information we have, Republic of the Congo has a primarily an oil- and natural resources-based economy; recovery from mid-2010s oil devaluation has been slow and curtailed by COVID-19; extreme poverty increasing, particularly in southern rural regions; attempting to implement recommended CEMAC reforms; increasing likelihood of debt default. Key agricultural products in this country include: cassava, sugarcane, oil palm fruit, bananas, plantains, root vegetables, game meat, vegetables, mangoes/guavas, fruits (2022).
More about the economy of Republic of the Congo
Labor force 2.461 million (2023 est.)
Industrial production growth rate 0.75% (2023 est.)
Industries petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes
Population below poverty line
Taxes and other revenues 6.51% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2023 606.57 (2023 est.)
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Exchange rates 2019 585.911 (2019 est.)
Debt - external
Debt - external 2022 $6.482 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $715.391 million (2023 est.)
Reserves of foreign exchange and gold 2022 $835.649 million (2022 est.)
Reserves of foreign exchange and gold 2021 $828.56 million (2021 est.)
Current account balance
Current account balance 2021 $1.716 billion (2021 est.)
Current account balance 2020 $1.441 billion (2020 est.)
Current account balance 2019 $1.632 billion (2019 est.)
Public debt
Public debt 2017 130.8% of GDP (2017 est.)
Budget
Revenues $2.393 billion (2020 est.)
Expenditures $2.409 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.02% of GDP (2023 est.)
Remittances 2022 0.02% of GDP (2022 est.)
Remittances 2021 0.3% of GDP (2021 est.)
Imports
Imports 2021 $4.487 billion (2021 est.)
Imports 2020 $3.279 billion (2020 est.)
Imports 2019 $4.945 billion (2019 est.)
Imports (partners) China 26%, France 9%, UAE 6%, Belgium 6%, India 5% (2022)
Comodities Imports force poultry, garments, vaccines, ships, fish (2022)
Exports
Imports 2021 $4.487 billion (2021 est.)
Imports 2020 $3.279 billion (2020 est.)
Imports 2019 $4.945 billion (2019 est.)
Exports (partners) China 39%, India 20%, UAE 15%, Italy 5%, Vietnam 4% (2022)
Comodities Exports force crude petroleum, refined copper, wood, tin ores, rare earth ores (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $38.163 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $37.448 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $36.904 billion (2021 est.)
GDP (official exchange rate) $15.321 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $6,200 (2023 est.)
Real GDP per capita 2022 $6,300 (2022 est.)
Real GDP per capita 2021 $6,300 (2021 est.)
GDP - composition, by sector of origin
Agriculture 9% (2023 est.)
Industry 45.2% (2023 est.)
Services 40.4% (2023 est.)
GDP - composition, by end use
Household consumption 44.1% (2023 est.)
Government consumption 13.1% (2023 est.)
Investment in fixed capital 24.9% (2023 est.)
Investment in inventories 0.3% (2023 est.)
Exports of goods and services 56.9% (2023 est.)
Imports of goods and services -39.3% (2023 est.)
Unemployment rate
Unemployment rate 2023 20.05% (2023 est.)
Unemployment rate 2022 20.26% (2022 est.)
Unemployment rate 2021 22.08% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 41.2% (2023 est.)
Male 42.4% (2023 est.)
Female 40.1% (2023 est.)
All Important Facts about Republic of the Congo

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Republic of the Congo is found in Middle Africa