National anthem:
name: "Debout Congolaise" (Arise Congolese)
lyrics/music: Joseph LUTUMBA/Simon-Pierre BOKA di Mpasi Londi
note: adopted 1960; the anthem was replaced during the period in which the country was known as Zaire, but was readopted in 1997
Economy ::Congo, Democratic Republic of the
Economy - overview:
The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - is slowly recovering from decades of decline. Systemic corruption since independence in 1960 and conflict that began in May 1997 has dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of more than 5 million people from violence, famine, and disease. Foreign businesses curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. Conditions began to improve in late 2002 with the withdrawal of a large portion of the invading foreign troops. The transitional government reopened relations with international financial institutions and international donors, and President KABILA began implementing reforms. Progress has been slow and the International Monetary Fund curtailed their program for the DRC at the end of March 2006 because of fiscal overruns. Much economic activity still occurs in the informal sector, and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, boosted Kinshasa's fiscal position and GDP growth from 2006–2008, however, the government's review of mining contracts that began in 2006, combined with a fall in world market prices for the DRC's key mineral exports temporarily weakened output in 2009, leading to a balance of payments crisis. The recovery in mineral prices beginning in mid 2009 boosted mineral exports, and emergency funds from the IMF boosted foreign reserves. An uncertain legal framework, corruption, a lack of transparency in government policy are long-term problems for the mining sector and the economy as a whole. The global recession cut economic growth in 2009 to less than half its 2008 level, but growth returned to 3% in 2010. The DRC signed a Poverty Reduction and Growth Facility with the IMF in 2009 and received $12 billion in multilateral and bilateral debt relief in 2010.
GDP (purchasing power parity):
$22.92 billion (2010 est.) country comparison to the world: 119 $22.25 billion (2009 est.)
$21.64 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$12.6 billion (2010 est.)
GDP - real growth rate:
3% (2010 est.) country comparison to the world: 120 2.8% (2009 est.)
6.2% (2008 est.)
GDP - per capita (PPP):
$300 (2010 est.) country comparison to the world: 229 $300 (2009 est.)
$300 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 37.4%
industry: 26%
services: 36.6% (2008 est.)
Labor force:
23.53 million (2007 est.) country comparison to the world: 26
Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%
Unemployment rate:
NA%
Population below poverty line:
NA% (2006 est.)
Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 34.7% (2006)
Inflation rate (consumer prices):
26.2% (2010 est.) country comparison to the world: 223 46.2% (2009 est.)
Central bank discount rate:
70% (31 December 2009) country comparison to the world: 2 40% (31 December 2008)
Commercial bank prime lending rate:
65.42% (31 December 2009 est.) country comparison to the world: 4 43.15% (31 December 2008 est.)
Stock of narrow money:
$613.9 million (31 December 2008) country comparison to the world: 152 $597 million (31 December 2007)
Stock of broad money:
$1.562 billion (31 December 2008 est.) country comparison to the world: 147 $1.275 billion (31 December 2007 est.)
Stock of domestic credit:
$NA (31 December 2008)
$928.5 million (31 December 2008)
Market value of publicly traded shares:
$NA
Agriculture - products:
coffee, sugar, palm oil, rubber, tea, quinine, cassava (tapioca), palm oil, bananas, root crops, corn, fruits; wood products
Industries:
mining (diamonds, gold, copper, cobalt, coltan, zinc, tin, diamonds), mineral processing, consumer products (including textiles, footwear, cigarettes, processed foods and beverages), cement, commercial ship repair
Industrial production growth rate:
NA%
Electricity - production:
8.217 billion kWh (2007 est.) country comparison to the world: 98
Electricity - consumption:
5.997 billion kWh (2007 est.) country comparison to the world: 105
Electricity - exports:
1.916 billion kWh (2007 est.)
Electricity - imports:
6 million kWh (2007 est.)
Oil - production:
16,360 bbl/day (2009 est.) country comparison to the world: 78
Oil - consumption:
10,000 bbl/day (2009 est.) country comparison to the world: 148
Oil - exports:
20,090 bbl/day (2007 est.) country comparison to the world: 91
Oil - imports:
11,350 bbl/day (2007 est.) country comparison to the world: 136
Oil - proved reserves:
180 million bbl (1 January 2010 est.) country comparison to the world: 60
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 183
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 195
Natural gas - exports:
0 cu m (2008 est.) country comparison to the world: 186
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 188
Natural gas - proved reserves: