Congo, Democratic Republic of the
Introduction Key Economic Facts Risk Assessment (Provided by Coface) The Democratic Republic of the Congo (DRC) is a country Income Level (by per capita Low Income Country rating: B - Political and economic uncertainties located in Central Africa with a short Atlantic Ocean GNI): and an occasionally difficult business environment can coastline. Neighboring countries include Angola, Burundi, Level of Development: Developing affect corporate payment behavior. Corporate default Central African Republic, Republic of the GDP, PPP (current international $99.51 billion (2019) Congo, Rwanda, South Sudan, Tanzania, $): probability is appreciable. Uganda, and Zambia. The geography GDP growth (annual %): 4.38% (2019) Business Climate rating: B - The business environment is includes active volcanoes near the city of GDP per capita, PPP (current $1,146.54 (2019) mediocre. The availability and the reliability of corporate Goma, mountains in the east, and international $): financial information vary widely. Debt collection can lowlands around the Congo River that experience seasonal External debt stocks, total $5,437,546,237.50 (2019) sometimes be difficult. The institutional framework has a few flooding. The government system is a republic; the chief of (DOD, current US$): state is the president, and the head of government is the Manufacturing, value added (% 20.01% (2019) troublesome weaknesses. Intercompany transactions run prime minister. DRC has a of GDP): appreciable risks in the unstable, largely inefficient mixed economic system which Current account balance (BoP, -$1.69 billion (2019) environments rated B. current US$): includes a variety of private Strengths freedom, combined with Inflation, consumer prices 2.89% (2016) • Leading Caribbean tourist destination centralized economic planning (annual %): and government regulation. The Labor force, total: 30,690,929 (2020) • Remittances from its diaspora Democratic Republic of the Unemployment, total (% of 4.25% (2020) • Free-trade agreement with the United States Congo is a member of the total labor force) (modeled ILO estimate): (CAFTA-DR) and Economic Partnership agreement Common Market for Eastern and Southern Africa Imports of goods and services $16.67 billion (2019) with the EU (COMESA), the Economic Community of Central African (current US$): • Free zones (56% of goods exports in 2019) States (ECCAS), and the Southern African Development Exports of goods and services $15.17 billion (2019) • Institutional stability Community (SADC). (current US$): Weaknesses Location: Middle Africa GDP Composition % • Dependence on the U.S. economy Capital City: Kinshasa (+1 GMT) Agriculture Services Industry Manufacturing Chief of State: President Felix Tshisekedi • Dependence on gold prices • Faulty electricity supply Head of Govt.: Prime Minister Sylvestre Ilunga 35 41 Ilunkamba 20 20 • High levels of poverty and inequality / low fiscal Currency: Congolese Franc (CDF) *Although Manufacturing is included in the Industry figures, it is also separately revenues (14% of GDP) Major Languages:
French (official), Lingala (a lingua reported because it plays a critical role in economy. • Drug trafficking-related crime franca trade language), Kingwana (a Rankings dialect of Kiswahili or Swahili), • Widespread corruption Kikongo, Tshiluba
Index Rank Primary Religions:Roman Catholic 29.9%, Corruption Perceptions Index 168 / 180 U.S. Embassy Protestant 26.7%, Kimbanguist 2.8%, Global Competitiveness Index 139 / 141 American Embassy, Kinshasa other Christian 36.5%, Muslim 1.3%, other (includes syncretic sects and Global Enabling Trade Index 133 / 136 310, Avenue des Aviateurs indigenous beliefs) 1.2%, none 1.3%, Index of Economic Freedom 156 / 179 Kinshasa, Gombe unspecified .2% (2014 est.)
International Logistics Performance Index (LPI) 120 / 160 République Démocratique du Congo Calling Code: 243 Inward FDI Potential Index 137 / 139 Tel: 081 556-0151 Voltage: 220 KOF Index of Globalization 161 / 185 https://cd.usembassy.gov Key Websites Open Budget Index 82 / 115Main Government Page: presidentrdc.cd Investment Promotion investindrc.cd Agency:
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV