Democratic Republic of Congo


Country Economic Snapshot
2023-11-08
The Democratic Republic of Congo (DRC) has a land mass of 2.35 million km² and is bounded to the north by the Central African Republic and South Sudan; to the east by Uganda, Rwanda, Burundi, and Tanzania; to the southeast by Zambia; and to the southwest by Angola. To the west are the country’s short Atlantic coastline, the Angolan exclave of Cabinda, and Congo (Brazzaville). It has a population of 95.9 million people and a GDP of US$62.7bn.
After the brutal Belgian colonial rule under King Leopold II, the DRC has been independent for 62 years, but did not experience its first peaceful transition of power until January 2019. Félix Tshisekedi, son of longstanding opposition leader Etienne Tshisekedi, won the December 2018 presidential election and succeeded Joseph Kabila, son of former dictator Laurent Kabila, who had led the country for 18 years.
The DRC contains unexploited deposits of coal, lithium and uranium, while cobalt, copper, diamonds, gold, lead, manganese, niobium, silver, tantalum, tin, tungsten and zinc are produced. The country’s 2 million artisanal and small-scale miners produce around 50% of its gold, between 20% and 40% of its cobalt, and most of its diamonds, niobium, tantalum, tin, and tungsten. State-owned company La Generale des Carrieres et des Mines owns several cobalt and copper mines as well as stakes in various joint ventures with mostly multinational mining companies. The government owns an 80% interest in the diamond mining company Societe Miniere de Bakwanga
.
Real GDP grew 8.5% in 2022, up from 6.2% in 2021, due to momentum in the extractive sector (which grew 20.8%) and recovery in the non-extractive sector (which grew 3.2%), driven by services despite a deteriorating security situation in the east of the country. Economic growth was driven on the demand side by strong exports (which grew 23.8%) and investment (which grew 18.6%), despite the global energy crisis.
Real GDP is projected to grow 8% in 2023 and 7.2% in 2024, driven by the extractive sector, which is expected to grow at least 12% between 2023 and 2024. Priority investment by the agricultural transformation programme could boost growth further. The extractive sector has the potential to boost climate finance, and foreign exchange reserves could reach US$6.4bn (1.9 months of import cover) on average over 2023 and 2024.
Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.
Info
Capital | Kinshasa |
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Currency (Name, Abbreviation, Symbol) | Franc Congolais , CDF , CDF |
Area | 2,344,858 sq km |
Type of Government | semi-presidential republic |
Languages | French (official), Lingala (a lingua franca trade language), Kingwana (a dialect of Kiswahili or Swahili), Kikongo, Tshiluba |
Natural Resources | cobalt, copper, niobium, tantalum, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, uranium, coal, hydropower, timber |
Type of Industry | 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 |
Stock Exchange | NONE |
Stock Exchange Location | - |
Stock Exchange Founded | - |
Tax Rate: Corporate | 30% |
Tax Rate: Individual | 40% |
Natural Resources | cobalt, copper, niobium, tantalum, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, uranium, coal, hydropower, timber |
Latest available information as sourced from:
African Markets
Trading Economics
Economy Watch
The World Fact Book
KPMG Tax Tables
Company Profile
There is no data available at the moment
Sector Research
[1] Aviation
3003, The Transportation Industry in DRC, (2014-05-19), Democratic Republic of Congo, 51100; 51200Sector Research
CompanyName | Stock Exchange | Listed Date | Ticker Code | Country | Status |
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Top Democratic Republic of Congo Reports
Lithium Mining in Africa
R 20 000.00(ZAR) estimated $ 1057.67 (USD)*




The Generation of Electricity in Southern Africa
R 9 500.00(ZAR) estimated $ 502.40 (USD)*




The Wholesale and Retail of Food Industry in the DRC
R 1 900.00(ZAR) estimated $ 100.48 (USD)*



