Republic of the Congo

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Republic of the Congo - In Short.

Overview of Republic of the Congo

Upon independence in 1960, the former French region of Middle Congo became the Republic of the Congo. A quarter century of experimentation with Marxism was abandoned in 1990 and a democratically elected government took office in 1992. A two-year civil war that ended in 1999 restored former Marxist President Denis SASSOU-Nguesso, who had ruled from 1979 to 1992, and sparked a short period of ethnic and political unrest that was resolved by a peace agreement in late 1999. A new constitution adopted three years later provided for a multi-party system and a seven-year presidential term, and elections arranged shortly thereafter installed SASSOU-Nguesso. Following a year of renewed fighting, President SASSOU-Nguesso and southern-based rebel groups agreed to a final peace accord in March 2003. SASSOU-Nguesso was reeelected in 2009 and, after passing a referendum allowing him to run for a third term, was reelected again in 2016. The Republic of Congo is one of Africa’s largest petroleum producers, but with declining production it will need new offshore oil finds to sustain its oil earnings over the long term.
Value
Country Full Name
Republic of the Congo
Country Code
COG
Region
Sub-Saharan Africa
Income Group
Lower middle income
Currency Unit
GDP
10187122341
Population
5518092
Land Area
341500
Net National Income Per Capita
691.393551
GDP per Capita (PPP)
3622.3172

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Republic of the Congo - Economic

Economy of Republic of the Congo

The Republic of the Congo’s economy is a mixture of subsistence farming, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects. New mining projects, particularly iron ore, which entered production in late 2013, may add as much as $1 billion to annual government revenue. The Republic of the Congo is a member of the Central African Economic and Monetary Community (CEMAC) and shares a common currency – the Central African Franc – with five other member states in the region.The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices that began in 2014 has constrained government spending; lower oil prices forced the government to cut more than $1 billion in planned spending. The fiscal deficit amounted to 11% of GDP in 2017. The government’s inability to pay civil servant salaries has resulted in multiple rounds of strikes by many groups, including doctors, nurses, and teachers. In the wake of a multi-year recession, the country reached out to the IMF in 2017 for a new program; the IMF noted that the country’s continued dependence on oil, unsustainable debt, and significant governance weakness are key impediments to the country’s economy. In 2018, the country’s external debt level will approach 120% of GDP. The IMF urged the government to renegotiate debts levels to sustainable levels before it agreed to a new macroeconomic adjustment package.

Unemployment Rate

Inflation Rate

Republic of the Congo - GDP Composition

GDP Composiiton & Value Added of Republic of the Congo

Last Updated: Jan, 2021, Updated For 2020.

Republic of the Congo - GDP, Value Added

Demographics of Republic of the Congo

the population is primarily located in the south, in and around the capital of Brazzaville as shown in this population distribution map
Geographic Location

Central Africa, bordering the South Atlantic Ocean, between Angola and Gabon

Races

Kongo 40.5%, Teke 16.9%, Mbochi 13.1%, foreigner 8.2%, Sangha 5.6%, Mbere/Mbeti/Kele 4.4%, Punu 4.3%, Pygmy 1.6%, Oubanguiens 1.6%, Duma 1.5%, Makaa 1.3%, other and unspecified 1% (2014-15 est.)

Languages

French (official), French Lingala and Monokutuba (lingua franca trade languages), many local languages and dialects (of which Kikongo is the most widespread)major-language

Religion

Roman Catholic 33.1%, Awakening Churches/Christian Revival 22.3%, Protestant 19.9%, Salutiste 2.2%, Muslim 1.6%, Kimbanguiste 1.5%, other 8.1%, none 11.3% (2010 est.)

Dependency & Expectancy of Republic of the Congo

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Republic of the Congo - Social Media Briefing

Republic of the Congo - Social Media & Social Commerce

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Politics & Policies of Republic of the Congo

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, BDEAC, CEMAC, EITI (compliant country), FAO, FZ, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), MIGA, NAM, OIF, OPCW, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Republic of the Congo

Export of Republic of the Congo

Import Destination

Export Destination