|
The economy is a mixture of subsistence agriculture, an industrial sector based largely on oil, and support services, and a government characterized by budget problems and overstaffing. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. In the early 1980s, rapidly rising oil revenues enabled the government to finance large-scale development projects with GDP growth averaging 5% annually, one of the highest rates in Africa. The government has mortgaged a substantial portion of its oil earnings through oil-backed loans that have contributed to a growing debt burden and chronic revenue shortfalls. Economic reform efforts have been undertaken with the support of international organizations, notably the World Bank and the IMF. However, the reform program came to a halt in June 1997 when civil war erupted. Denis SASSOU-NGUESSO, who returned to power when the war ended in October 1997, publicly expressed interest in moving forward on economic reforms and privatization and in renewing cooperation with international financial institutions. Economic progress was badly hurt by slumping oil prices and the resumption of armed conflict in December 1998, which worsened the republic's budget deficit. The current administration presides over an uneasy internal peace and faces difficult economic challenges of stimulating recovery and reducing poverty. Recovery of oil prices has boosted the economy's GDP and near-term prospects. In March 2006, the World Bank and the International Monetary Fund (IMF) approved Heavily Indebted Poor Countries (HIPC) treatment for Congo.
|
|
|
$15.58 billion (2009 est.)
country comparison to the world: 134
$14.48 billion (2008 est.)
$13.71 billion (2007 est.)
note:
data are in 2009 US dollars
|
|
|
$9.532 billion (2009 est.)
|
|
|
7.6% (2009 est.)
country comparison to the world: 7
5.6% (2008 est.)
-1.6% (2007 est.)
|
|
|
$3,900 (2009 est.)
country comparison to the world: 156
$3,700 (2008 est.)
$3,600 (2007 est.)
note:
data are in 2009 US dollars
|
|
|
agriculture: 4.7%
industry:
63%
services:
32.2% (2006 est.)
|
|
|
1.514 million (2007)
country comparison to the world: 128
|
|
|
NA%
|
|
|
NA%
|
|
|
lowest 10%: 2.1%
highest 10%:
37.1%
|
|
|
40.1% of GDP (2009 est.)
country comparison to the world: 6
|
|
|
revenues: $4.336 billion
expenditures:
$2.893 billion (2009 est.)
|
|
|
4% (2009 est.)
country comparison to the world: 128
7.3% (2008 est.)
|
|
|
4.75% (31 December 2008)
country comparison to the world: 84
5.25% (31 December 2007)
|
|
|
NA% (31 December 2008)
country comparison to the world: 49
15% (31 December 2007)
|
|
|
$1.811 billion (31 December 2008)
country comparison to the world: 93
$1.4 billion (31 December 2007)
|
|
|
$268.4 million (31 December 2008)
country comparison to the world: 144
$204.3 million (31 December 2007)
|
|
|
$NA
|
|
|
$NA
|
|
|
cassava (tapioca), sugar, rice, corn, peanuts, vegetables, coffee, cocoa; forest products
|
|
|
petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes
|
|
|
13% (2009 est.)
country comparison to the world: 2
|
|
|
400 million kWh (2007 est.)
country comparison to the world: 164
|
|
|
471 million kWh (2007 est.)
country comparison to the world: 164
|
|
|
0 kWh (2008 est.)
|
|
|
449 million kWh (2007 est.)
|
|
|
274,400 bbl/day (2009 est.)
country comparison to the world: 39
|
|
|
10,000 bbl/day (2009 est.)
country comparison to the world: 151
|
|
|
241,100 bbl/day (2007 est.)
country comparison to the world: 47
|
|
|
2,136 bbl/day (2007 est.)
country comparison to the world: 176
|
|
|
1.6 billion bbl (1 January 2009 est.)
country comparison to the world: 36
|
|
|
180 million cu m (2008 est.)
country comparison to the world: 75
|
|
|
180 million cu m (2008 est.)
country comparison to the world: 100
|
|
|
0 cu m (2008 est.)
country comparison to the world: 187
|
|
|
0 cu m (2008 est.)
country comparison to the world: 188
|
|
|
90.61 billion cu m (1 January 2009 est.)
country comparison to the world: 56
|
|
|
-$405 million (2009 est.)
country comparison to the world: 108
-$463 million (2008 est.)
|
|
|
$8.181 billion (2009 est.)
country comparison to the world: 88
$9.712 billion (2008 est.)
|
|
|
petroleum, lumber, plywood, sugar, cocoa, coffee, diamonds
|
|
|
US 40.08%, China 30.18%, France 8.17%, Taiwan 6.4%, India 4.2% (2009)
|
|
|
$3.253 billion (2009 est.)
country comparison to the world: 135
$3.476 billion (2008 est.)
|
|
|
capital equipment, construction materials, foodstuffs
|
|
|
France 20.64%, China 14.54%, Italy 9.56%, US 9.02%, India 5.55%, Belgium 4.51% (2009)
|
|
|
$3.938 billion (31 December 2009 est.)
country comparison to the world: 87
$3.873 billion (31 December 2008 est.)
|
|
|
$5 billion (2000 est.)
country comparison to the world: 101
|
|
|
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 483.21 (2009), 447.81 (2008), 483.6 (2007), 522.59 (2006), 527.47 (2005)
note:
since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par
|
|
|