Congo, Republic of the Introduction Key Economic Facts Risk Assessment (Provided by Coface) The Republic of Congo is a country in Central Africa. Income Level (by per capita Lower Middle Income Country rating: C - A very uncertain political and economic Neighboring countries include Angola, Gabon, Cameroon, GNI): outlook and a business environment with many troublesome Central African Republic, and Democratic Republic of the Level of Development: Developing weaknesses can have a significant impact on corporate Congo. The southwest of the country is a GDP, PPP (current international $20.64 billion (2019) coastal plain, and the interior of the $): payment behavior. Corporate default probability is high. country consists of central plateau. The GDP growth (annual %): -3.54% (2019) Business Climate rating: D - The business environment is government system is a republic; the chief GDP per capita, PPP (current $3,835.66 (2019) very difficult. Corporate financial information is rarely of state and head of government is the international $): available and when available usually unreliable. The legal president. The Republic of the Congo has a mixed External debt stocks, total $5,180,775,666.80 (2019) system makes debt collection very unpredictable. The economic system which includes a variety of private (DOD, current US$): freedom, combined with centralized economic planning and Manufacturing, value added (% 8.57% (2019) institutional framework has very serious weaknesses. government regulation. of GDP): Intercompany transactions can thus be very difficult to Republic of the Congo is a Current account balance (BoP, -$3.59 billion (2016) manage in the highly risky environments rated D. current US$): member of the Economic Strengths Community of Central African Inflation, consumer prices 2.21% (2019) • Abundant natural resources (oil, iron ore, potash, States (ECCAS). (annual %): Labor force, total: 2,245,612 (2020) phosphates, wood); agricultural potential Unemployment, total (% of 9.28% (2020) • Potential economic diversification with opening of total labor force) (modeled ILO estimate): free-trade zones Location: Middle Africa Imports of goods and services $6.52 billion (2019) Weaknesses Capital City: Brazzaville (+1 GMT) (current US$): • Heavy reliance on oil and gas, and on China Chief of State: President Denis Sassou-Nguesso Exports of goods and services $8.48 billion (2019) • Lack of infrastructures; lag in poverty reduction (current US$): Head of Govt.: Prime Minister Clement Mouamba • Poor business climate and weak governance Currency: Communaute Financiere Africaine GDP Composition % franc (XAF) Agriculture Services Industry Manufacturing • Lack of transparency in terms of its debts; Major Languages: <p>French (official), French Lingala uncertainties about interest payments and Monokutuba (lingua franca trade 50 languages), many local languages 39 U.S. Embassy 8 9 and dialects (of which Kikongo is the U.S. Embassy Kinshasa most widespread)</p> *Although Manufacturing is included in the Industry figures, it is also separately 310 Avenue des Aviateurs Primary Religions: <p>Roman Catholic 33.1%, reported because it plays a critical role in economy. Kinshasa, Gombe Awakening Churches/Christian Rankings Revival 22.3%, Protestant 19.9%, The Democratic Republic of the Congo Salutiste 2.2%, Muslim 1.6%, Index Rank Phone: 081 556-015 Kimbanguiste 1.5%, other 8.1%, none Corruption Perceptions Index 165 / 180 https://cd.usembassy.gov 11.3% (2010 est.)</p> Index of Economic Freedom 175 / 179 Calling Code: 242 International Logistics Performance Index (LPI) 115 / 160 Voltage: 230 Inward FDI Potential Index 95 / 139 Key Websites KOF Index of Globalization 108 / 185 Main Government Page: presidence.cg Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV.