The largest francophone country in africa, the democratic republic of congo drc, endowed with vast natural resources, has nearly 80 million inhabitants, fewer than 40% of whom live in urban areas. Dr congo economy gdp, inflation, cpi and interest rate. Belgiums king leopold ii claimed congo free state as his personal possession. Cobalt mining in the democratic republic of the congo. The democratic republic of the congo pronunciation help info french. Officially known as the democratic republic of the congo, the country has a 25mile 40km coastline on the atlantic ocean but is otherwise landlocked. Congo, democratic republic market overview congo dr market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Economy of the democratic republic of the congo wikipedia. The democratic republic of congo is widely considered to be the richest country in the world regarding natural resources.
Democratic republic of the congo african economic outlook 2017 the growth rate of the congolese economy fell from 6. This page provides forecast and historical data, charts, statistics, news and updates for democratic republic of the congo real government consumption. Congo economic outlook african development bank building. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and. Economies are ranked on their ease of doing business. The democratic republic of congo is widely considered one of the worlds richest countries in natural resources.
Real government consumption for democratic republic of the congo from the world bank for the world development indicators wdi release. The democratic republic of the congo shares borders with the central african republic, south sudan, uganda, rwanda, burundi, lake tanganyika, zambia, angola, the republic of the congo, and the congo river. Read more 20172018 work plan democratic republic of congo. Access congo, democratic republic ofs economy facts, statistics, project information, development research from experts and latest news. The congo river flows through the country and along its western border. The taxtogdp ratio in the republic of the congo decreased by 3. Democratic republic of the congo kids britannica kids. Democratic republic of the congo economy britannica. The capital, kinshasa, is located on the congo river about 320 miles 515 km from. Systemic corruption since independence in 1960, combined with countrywide instability and intermittent conflict that began in the early90s, has reduced national output and government revenue, and increased.
Since gaining independence from belgium in 1960, the country and its 75 million residents have experienced numerous political and economic crises, including a war that claimed millions of. Democratic republic of the congo, country located in central africa. The democratic republic of the congos economic freedom score is 49. The western tip of the country touches the atlantic ocean. Jan 10, 2019 dr congo is a vast country with immense economic resources and, until recently, has been at the centre of what some observers call africas world war, with widespread civilian suffering the result. Corruption in the democratic republic of the congo is an endemic problem, and seriously hinders businesses operating in the country. The republic of the congo s economic freedom score is 41. With 80 million hectares of arable land and over 1,100 listed minerals and precious metals, the drc has the potential to become one of the richest. In 2015, security and intelligence officials in the democratic republic of congo clamped down on activists and political opponents who opposed political maneuvers to. In 2015, security and intelligence officials in the democratic republic of congo clamped down on activists and political opponents who opposed political maneuvers to allow president joseph kabila. Petroleum has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports.
Unicef annual report 2016 democratic republic of congo executive summary despite its vast physical size and abundant natural resources, the democratic republic of congo drc is one of the poorest countries in the world, ranking 176th out of 188 countries and territories in the 2015 human development index. The democratic republic of the congo the democratic republic of the congo by world trade organization november 21, 2017. Democratic republic congo cod transportation prices 2016. Topics index democratic republic of congo democratic republic of congo. The western tip of the country touches the atlantic ocean the congo river flows through the country and along its western border. Democratic republic of congo economic outlook macroeconomic performance and outlook real gdp growth dropped to 4. Democratic republic of the congo vs zambia military power. The republic of the congos economic freedom score is 41. Democratic republic of the congo 2019 hundreds of prisoners of conscience and other detainees were released, and some exiled activists were allowed to return to the country.
Latest news and information from the world bank and its development work in congo, democratic republic of. At independence in 1960, the formal economy of congo was based almost entirely on the extraction of minerals, primarily copper and diamonds. Media in category economy of the democratic republic of the congo the following 24 files are in this category, out of 24 total. The democratic republic of the congo dr congo is one of the most populous countries in subsaharan africa, and the largest frenchspeaking african country. Democratic republic of the congo real government consumption. The global economy is expected to shrink by 3% this year. The economy shifted into a lower gear in 2019, with gdp expanding 4. Congo, the democratic republic of the economic studies. Global economic prospects examines trends for the world economy and how they affect developing countries.
This page provides forecast and historical data, charts, statistics, news and updates for democratic republic of. Published on jul 16, 2016 comparing military power of two countries including manpower, land systems, air power, naval power, resources, logistics, economy, geography and overall global rank. Systemic corruption since independence in 1960, combined with countrywide instability and intermittent conflict. The growth rate of the congolese economy fell from 6. Economics in the drc the democratic republic of the congo. On top of higher taxes and royalties, the code requires at least 10% of mining companies capital to be held by native. Democratic republic of the congo democratic republic of the congo economy. The government will seek to improve the management of the public finances and implement structural reforms, but corruption, bureaucratic inefficiency and evolving policy need as a result of the global coronavirus pandemic will prevent progress. However, the authorities continued to restrict the right to freedoms of expression, association and assembly. Apr 29, 2020 the annual progress report provides an overview of all eiti democratic republic of congo s activities from january 2017 to june 2018. Travel and tourism in congo, democratic republic market. 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, and a government spending, characterized by budget problems and overstaffing. Production in the allimportant mining sector dived last year, on external headwinds. The democratic republic of congos economic freedom score is 50.
Democratic republic of congo extractive industries. The drc is still recovering from a series of conflicts that broke out in the 1990s. The democratic republic of congo has the third largest urban population in subsaharan africa estimated at 43% in 2016 after south africa and nigeria. Purchase the travel and tourism in congo, democratic republic country report as part of our travel market research for september 2014. Democratic republic of the congo african economic outlook 2017. The work plan presents all activities eiti democratic republic of congo is planning for 20182021. Congo, democratic republic of the economy 2020, cia world.
Africa congo, democratic republic of the the world. Economy democratic republic of the congo this page presents various indicators in the field. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. The economy of the second largest country in africa relies heavily on mining. The mining industry should continue to attract private investment, which will remain stable 10. The war economy in the democratic republic of congo. Democratic republic of congo economic outlook african. The congo has 70% of the worlds coltan, a third of its cobalt, more than 30% of its diamond reserves, and a tenth of its copper. The democratic republic of the congo drc is a country located in central africa with a short atlantic ocean. Congo, democratic republic african economic outlook.
It is, by area, the largest country in subsaharan africa, the secondlargest in all of africa after algeria. The political situation will remain extremely fragile. Democratic republic of congo overview world bank group. Oct 05, 2016 cobalt mining in the democratic republic of the congo. Democratic republic of the congo economic indicators. Democratic republic of the congo inflation rate 2016. Economic growth in 2016 is expected to rise to 8%, which will make drcs one of.
Ranking of the country democratic republic of the congo at the global level is from the highest to the lowest data. Macroeconomic performance and outlook congos economic growth has remained on track despite a still weak domestic environment. The media overlooks this great potential when it reports on the economic situation in the drc. Annual cobalt output plunged, while oil production contracted for the better part of the year. Doing business 2016 is the th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Drc remains at a moderate risk of external and overall debt distress, with some space to absorb shocks. We expect growth to remain stable in 2020, supported by resilient growth in ore exports 4.
Unicef annual report 2016 democratic republic of congo. Euromonitor international is the leading provider of strategic market research reports. Democratic republic of the congo 2019 amnesty international. Congo, democratic republic market overviewcongo dr market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Congo, democratic republic market overview privacy shield. Dr congo is a vast country with immense economic resources and, until recently, has been at the centre of what some observers call africas world war, with widespread civilian suffering the result.
Learn more about the republic of congo economy, including the population of. Democratic republic congo cod transportation prices 2016feature service data on 18 march, 2020 go to resource democratic republic congo cod transportation prices 2016feature service. Systemic corruption since independence in 1960, combined. 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. Congo, democratic republic the growth rate of the congolese economy fell from 6. It permeates all levels of government and all sectors of the economy, rendering the countrys investment climate as one of the least competitive in the world. The economy of the democratic republic of the congo a nation endowed with vast natural resource wealth continues to perform poorly. The war economy in the democratic republic of congo edited by sagaren naidoo igd occasional paper no 37 published by. Relations congressional research service 3 historical background due to its resources, vast territory, and location figure 1, drc has long served as an arena of regional and international competition. 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. Democratic republic of the congo drcs debtcarrying capacity was assessed as weak 1.
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