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 (2023).
More about the economy of Republic of the Congo
Labor force 2.563 million (2024 est.)
Industrial production growth rate 0.3% (2024 est.)
Industries petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes
Population below poverty line
Taxes and other revenues 6.5% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2024 606.345 (2024 est.)
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.)
Debt - external
Debt - external 2023 $6.36 billion (2023 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.)
Budget
Revenues $2.393 billion (2020 est.)
Expenditures $2.409 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.3% of GDP (2023 est.)
Remittances 2022 0.3% 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 24%, Angola 20%, Gabon 9%, France 6%, UAE 5% (2023)
Comodities Imports force ships, poultry, garments, iron pipes, refined petroleum (2023)
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 46%, UAE 23%, India 6%, Saudi Arabia 5%, Portugal 3% (2023)
Comodities Exports force crude petroleum, refined copper, gold, wood, refined petroleum (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $39.147 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $38.163 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $37.448 billion (2022 est.)
GDP (official exchange rate) $15.72 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $6,200 (2024 est.)
Real GDP per capita 2023 $6,200 (2023 est.)
Real GDP per capita 2022 $6,200 (2022 est.)
GDP - composition, by sector of origin
Agriculture 9.4% (2024 est.)
Industry 40.1% (2024 est.)
Services 45% (2024 est.)
GDP - composition, by end use
Household consumption 47.4% (2024 est.)
Government consumption 13.4% (2024 est.)
Investment in fixed capital 26.5% (2024 est.)
Investment in inventories 0.3% (2024 est.)
Exports of goods and services 52.8% (2024 est.)
Imports of goods and services -40.4% (2024 est.)
Unemployment rate
Unemployment rate 2024 19.7% (2024 est.)
Unemployment rate 2023 19.9% (2023 est.)
Unemployment rate 2022 20.2% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 40% (2024 est.)
Male 41% (2024 est.)
Female 39% (2024 est.)
All Important Facts about Republic of the Congo

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Republic of the Congo is found in Middle Africa