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Economical Overview of Cogo

- The economy is very poor and largely based on natural resources. It has experienced decreasing government investment and increasing debt. - GDP grew over 6% in 2021 but inflation has been very high at over 40% in recent years. - The economy relies heavily on agriculture and mining, with key exports including copper, cobalt, and crude oil. Poverty and income inequality remain significant challenges.

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17 views7 pages

Economical Overview of Cogo

- The economy is very poor and largely based on natural resources. It has experienced decreasing government investment and increasing debt. - GDP grew over 6% in 2021 but inflation has been very high at over 40% in recent years. - The economy relies heavily on agriculture and mining, with key exports including copper, cobalt, and crude oil. Poverty and income inequality remain significant challenges.

Uploaded by

shubhika07bhandari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Economy(cia.

gov)

Economic overview

very poor, large, natural resource-rich sub-Saharan country; possesses the world’s second
largest rainforest; increasing Chinese extractive sector trade; massive decrease in government
investments; increasing current account deficit and public debts

Real GDP (purchasing power parity)

$102.956 billion (2021 est.)


$96.945 billion (2020 est.)
$95.292 billion (2019 est.)

note: data are in 2017 dollars

comparison ranking: 91

Real GDP growth rate

6.2% (2021 est.)


1.74% (2020 est.)
4.38% (2019 est.)

comparison ranking: 70

Real GDP per capita

$1,100 (2021 est.)


$1,000 (2020 est.)
$1,100 (2019 est.)

note: data are in 2017 dollars

comparison ranking: 226

GDP (official exchange rate)

$47.16 billion (2019 est.)


Inflation rate (consumer prices)

41.5% (2017 est.)


18.2% (2016 est.)

comparison ranking: 7

Credit ratings

Moody's rating: Caa1 (2019)

Standard & Poors rating: CCC+ (2017)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 19.7% (2017 est.)

industry: 43.6% (2017 est.)

services: 36.7% (2017 est.)

comparison rankings: services 218; industry 21; agriculture 51

GDP - composition, by end use

household consumption: 78.5% (2017 est.)

government consumption: 12.7% (2017 est.)

investment in fixed capital: 15.9% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 25.7% (2017 est.)

imports of goods and services: -32.8% (2017 est.)


Agricultural products

cassava, plantains, sugar cane, maize, oil palm fruit, rice, roots/tubers nes, bananas, sweet
potatoes, groundnuts

Industries

mining (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing,
consumer products (textiles, plastics, footwear, cigarettes), metal products, processed foods
and beverages, timber, cement, commercial ship repair

Industrial production growth rate

7.78% (2021 est.)

comparison ranking: 54

Labor force

33.382 million (2021 est.)

comparison ranking: 18

Labor force - by occupation

agriculture: NA

industry: NA

services: NA

Unemployment rate

5.43% (2021 est.)


5.27% (2020 est.)
4.45% (2019 est.)

NA
comparison ranking: 135

Youth unemployment rate (ages 15-24)

total: 10.1%

male: 12%

female: 8.5% (2021 est.)

comparison ranking: total 152

Population below poverty line

63% (2014 est.)

Gini Index coefficient - distribution of family income

42.1 (2012 est.)

comparison ranking: 42

Household income or consumption by percentage share

lowest 10%: 2.3%

highest 10%: 34.7% (2006)

Budget

revenues: $5.419 billion (2019 est.)

expenditures: $6.382 billion (2019 est.)

Budget surplus (+) or deficit (-)

-0.9% (of GDP) (2017 est.)

comparison ranking: 73
Public debt

18.1% of GDP (2017 est.)


19.3% of GDP (2016 est.)

comparison ranking: 194

Taxes and other revenues

11.2% (of GDP) (2017 est.)

comparison ranking: 185

Fiscal year

calendar year

Current account balance

-$587.407 million (2021 est.)


-$1.052 billion (2020 est.)
-$1.693 billion (2019 est.)

comparison ranking: 122

Exports

$22.354 billion (2021 est.)


$13.932 billion (2020 est.)
$15.173 billion (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

comparison ranking: 83

Exports - partners

China 53%, United Arab Emirates 11%, Saudi Arabia 6%, South Korea 5% (2019)
Exports - commodities

copper, cobalt, crude petroleum, tin, diamonds (2021)

Imports

$22.193 billion (2021 est.) note: data are in current year dollars
$14.557 billion (2020 est.) note: data are in current year dollars
$16.892 billion (2019 est.) note: data are in current year dollars

comparison ranking: 88

Imports - partners

China 29%, South Africa 15%, Zambia 12%, Rwanda 5%, Belgium 5%, India 5% (2019)

Imports - commodities

packaged medicines, refined petroleum, sulfuric acid, stone processing machines, delivery
trucks (2019)

Reserves of foreign exchange and gold

$3.467 billion (31 December 2021 est.)


$747.655 million (31 December 2020 est.)
$1.194 billion (31 December 2019 est.)

comparison ranking: 112

Debt - external

$4.963 billion (31 December 2017 est.)


$5.35 billion (31 December 2016 est.)

comparison ranking: 134

Exchange rates
Congolese francs (CDF) per US dollar -

Exchange rates:
1,989.391 (2021 est.)
1,851.122 (2020 est.)
1,647.76 (2019 est.)
1,622.524 (2018 est.)
1,464.418 (2017 est.)

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