Democratic republic of the congo gdp growth. 46% increase from 2020.

Democratic republic of the congo gdp growth. Annual inflation reached 13. 7% in 2020 to an estimated 6. Historically, the average for Democratic Republic of the Congo from 1980 to 2030 is 2. 2% and 6. 3% of the countries in the dataset. The Gross Domestic Product (GDP) in Congo was worth 70. 6% from 2021 to The paper investigates the sources of growth in the Democratic Republic of the Congo since 1960 and evaluates the relative importance of total factor productivity growth and factor accumulation, using a cointegration method and a growth accounting framework. Rep. 0%, according to the International Monetary Fund (IMF). 7 % in 2024. Explore Congo's GDP per capita data in current US dollars provided by The World Bank. Democratic Republic of Congo gdp growth rate for 2021 was 6. 07 percent of the world economy. 6%, compared to 6. from The World Bank: Data Free and open access to global development data DEMOCRATIC REP. Aggregates are based on constant U. Jun 18, 2025 · The gross domestic product (GDP) in current prices in the Congo (Congo Kinshasa) was estimated at about 71. 5% of overall GDP, manufacturing 18. Systemic corruption since independence in 1960, combined with countrywide instability and intermittent conflict that began in the early-90s, has reduced national output and government revenue, and increased external debt. Democratic Republic of Congo gdp growth rate for 2020 was 1. GDP growth rates and charts Includes historical data for Democratic Republic of the Congo’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership. 6% in 2023 compared to last year. 25 percent, based on data from 182 countries. It's capital is Kinshasa and its currency is Apr 15, 2025 · Overview of key economic statistics. 48 percent in 2024. 2% GDP growth) and strengthened its resilience with a GDP growth rate of 8. The economic recovery was driven primarily by high prices of oil and metal exports, and services sector performance (Nolin et al. Annual percentage growth rate of GDP at market prices based on constant local currency. The Democratic Republic of the Congo’s economy has shown resilience, despite the escalating conflict in the east and the lingering effect of past shocks. 14 percent, a decline from 5. 2 percent from 3. Jun 18, 2025 · The growth of the real gross domestic product (GDP) in the Congo (Congo Kinshasa) was estimated at approximately 6. In 2025, growth will accelerate to 5. 1% over the last decade. The Gross Domestic Product (GDP) in Congo expanded 6. Jul 3, 2024 · “Growth in the Democratic Republic of the Congo has remained resilient, primarily driven by a robust performance in the mining sector. Policies Towards Foreign Direct Investment The DRC is actively pursuing FDI, particularly from the United States and Europe, to broaden capital inflows, spur economic growth, and enhance the diversification of the country’s economy. 4 billion in 2023. 20% in 2024. This rate is 19 -tenths of one percent less than the figure of 8. 5% increased from 1980 to 2024. "We expect the DRC economy to continue to grow with an average real GDP growth rate of around 6% until 2028," the US rating agency stated in a report obtained by Bankable. Aug 13, 2024 · The report underscores how important it is for the Republic of Congo to design effective fiscal instruments for sustainable forestry and economic growth. GDP per capita of USD 664 compared to the global average of USD 10,589. Economic Indicator Most recent value Trend GDP (current US$) GDP (current US$) current US$ constant US$ current LCU constant LCU Most recent value (2024 billion) 70. 2% in 2021 compared to last year. The statistical themes covered are: International trade, economic trends, foreign direct investment, external financial resources, population and labor force, information economy and maritime transport. The main findings confirm that poor economic policies and bad governance (through their effects on total factor productivity and capital Democratic Republic of the Congo, is a country located at Middle Africa, it has an area of 2,344,860 Km2 and it may be considered a large country. 7% published in 2020. This approach has sparked optimism that the DRC can enact and oversee investor-friendly policies. 9% and 6. Based on information available at the time of these discussions, the staff report was completed on June 20, 2024. 6k Views 407 economic indicators for Democratic Republic of the Congo with historical time series, data charts, source and definition information and data download options. Growth is estimated at 8. Nov 26, 2024 · Key View We forecast that the Democratic Republic of the Congo (DRC)’s real GDP growth will remain steady at 5. 45% from 8. Democratic Republic of the Congo: Economic growth forecast: The latest value from 2030 is 5. GDP is the sum of gross value added by all resident producers in the economy plus any Oct 29, 2024 · Moody's is optimistic about the Democratic Republic of Congo's (DRC) growth prospects through 2028. 5 percent in 2029. 3% in 2022 to 15. This page provides - Congo GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 4% in 2023). 94% surge in 2022, GDP growth sank by 25. 25 percent. 8% in 2022 to 7. In 2020 amid Covid-19, GDP growth slowed down to 1. Democratic Republic of Congo economic growth for 2020 was 48. 75 (2024 billion) Trend GDP per capita (current US$) GDP per capita (current US$) current US$ constant US$ current LCU constant LCU Most recent value (2024) 647. 4%. While FDI-friendly legislation is in effect, the judicial EXECUTIVE SUMMARY Despite the challenges facing many African countries in 2022, the economy of the Democratic Republic of the Congo (DRC) was ranked the third fastest growing in Africa. il y a environ 5 mois 1. The strong recovery was driven by the country’s mining and services sector performance. 0%, other industrial activity 31. Average real GDP growth of 6. 20 percent in the fourth quarter of 2023 over the same quarter of the previous year. Jul 25, 2022 · According to a recently completed annual assessment by IMF staff, growth in the Democratic Republic of the Congo (DRC) sharply rebounded from 1. 7% in 2025, and retain our 2024 forecast at the same figure, given strong export data. Jun 7, 2023 · The persistent high population growth outpaces economic growth in the DR Congo and is constraining its GDP per capita growth, and thus undermining the efforts to improve the well-being of the population. 5% growth rate in sub-Saharan Africa. While growth prospects are Jul 17, 2024 · Image credit: Shutterstock / Issa Kashala At the time of its independence, the Democratic Republic of the Congo (DRC) was considered the second most industrialized country in Africa, just after South Africa. 91% decline from 2019. Feb 20, 2025 · The Democratic Republic of Congo should improve its economic growth rate by the end of December 2024. 9% on average from 2015 to 2019, backed by favourable international prices for the country’s commodity exports. 1% in 2024, against an estimated 8. GDP growth (annual %) - Congo, Dem. Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development ( OECD ); Staff estimates, World Bank ( WB ) Since then, decades of corruption, war, and political instability have been a severe detriment to further growth, today leaving DRC with a GDP per capita and a HDI rating that rank among the world's lowest and make the DRC one of the most fragile and, according to the United Nations, least developed countries in the world. Unfortunately, the country has long been plagued by corruption, war, famine, and political instability, causing its economy to decline drastically in the decades since its emancipation in Gross Domestic Product of Democratic Republic of the Congo grew 6. This rate is 27 -tenths of one percent higher than the figure of 6. For example, Democratic Republic of the Congo’s Exports rank is higher than 57. Jan 15, 2025 · “The economy of the Democratic Republic of the Congo (DRC) has remained resilient with robust economic growth, declining inflation and fiscal deficits despite the significant challenges it faces, including a recent pickup in decades-long armed conflicts in its eastern part and a public health crisis linked to the Mpox outbreak. Transport, Economic Growth, and Deforestation in the Democratic Republic of Congo A Spatial Analysis Acknowledgements This report was prepared by a team led by Richard Damania comprising (in alphabetical order) Alvaro Federico Barra, Mathilde Burnouf and Jason Daniel Russ. Private consumption will recover in 2025, on lower inflation, while fixed investment will remain the key engine of growth given high copper prices, as well as recent developments regarding the Discover economic indicators for The Democratic Republic of the Congo, such as GDP, GNP and FDI to use in your data forecasts and economic reports on The Democratic Republic of the Congo's economy with CEIC. Democratic Republic of Congo GDP for 2020 was 48. While FDI-friendly legislation is in effect, the judicial Jan 19, 2025 · Despite persistent security challenges in the eastern regions, the Democratic Republic of Congo (DRC) achieved remarkable economic growth in 2024, with its real GDP growth rate estimated at 6. Jan 20, 2021 · EXECUTIVE SUMMARY Despite the challenges facing many African countries in 2022, the economy of the Democratic Republic of the Congo (DRC) was ranked the third fastest growing in Africa. The International Monetary Fund (IMF) forecasts a gradual growth of the DRC economy between 4. While inflation remains moderate and despite robust economic growth, poverty reduction has been elusive and the benefits from growth are yet to be more widely shared. Mar 19, 2025 · Key View We forecast that real GDP growth in the Democratic Republic of the Congo will come in at 5. Strengths, Weaknesses, Economic indicators, Public debt. 9 percent in 2022, with higher-than-projected inflation as rapid public spending accelerated exchange rate depreciation. 6% published in 2023. 9 percent). For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Positive terms-of-trade, strong export earnings, and FDI inflows contributed to building up foreign reserves, stabilizing the Congolese franc, and lowering inflation rates. According to the agency, the mining sector will mainly drive this growth; especially copper, a mineral crucial for the Business environment analysis and country risk assessment for Democratic Republic of Congo. The DRC is endowed with exceptional natural resources, including minerals such as cobalt and copper, hydroelectric potential, significant arable land, immense biodiversity Current and historical Gross Domestic Product (GDP) of the DR Congo in nominal and real US dollar values. The report highlights the mixed economic and social consequences of the war in Ukraine, with muted effects on the balance of payments but potentially more pronounced effects on inflation and households’ well-being. 5%, as import demand moderates and Feb 15, 2023 · “Preliminary data show significantly stronger real GDP growth in 2022 than previously anticipated. This rate is 45 -tenths of one percent higher than the figure of 1. The average GDP during this period was $35B 663M, and the median was $34B 951M. Apr 9, 2025 · The Democratic Republic of Congo (DRC), about the size of Western Europe, is the largest country in sub-Saharan Africa (SSA). Measures taken by the Central Bank, BCC, to tighten the monetary policy stance and alleviate pressures in the foreign exchange market have contributed to the modest moderation of the inflationary pressures. Aggregates are based on constant 2010 U. 65% decline from 2019. Most of this economic activity was controlled by foreign companies, such as the Belgian Union Minière du Haut-Katanga (UMHK), whose assets in 1965 were valued at nearly $430 million. Mar 14, 2024 · The Democratic Republic of the Congo (DRC) has been working towards fostering inclusive growth through various economic development strategies. 9% published in 2022. S. Democratic Republic of the Congo, with a population of 99,948,000 people, it is ranked at 16º position by population of 196 countries and it has a moderate population density, 43 people per km2. 72 billion US dollars, a 5. 1% GDP growth in 2021 and 2022, respectively, well above the 4. . 5% in 2023, due to underperformance in extractive industries (where the growth rate fell from 22. 1 percent at end-2022 on account of higher Statistics about economics, health, equity, crime, education, demographics, housing, and environment in Democratic Republic of the Congo. How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. 1%, and agriculture 17. Oct 27, 2023 · The new DRC Country Economic Memorandum outlines pathways for faster growth, job creation, and poverty reduction. 6% in 2023, supported primarily by fixed investment and private consumption, with net exports dragging on growth amid strong import demand. Growth is now estimated at 8. Nominal GDP of USD 66. 7% in 2024 compared to last year. Jul 15, 2024 · The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on July 3, 2024, following discussions that ended on May 8, 2024 with the officials of Democratic Republic of Congo on economic developments and policies. Forests cover two-thirds of Congo’s territory, and the country has successfully kept its deforestation rate low and stable despite economic development and illegal logging. This page presents a comprehensive analysis of the Democratic Republic of the Congo (DR Congo). 5 days ago · Democratic Republic of the Congo - Mining, Agriculture, Poverty: At independence in 1960, the formal economy of Congo was based almost entirely on the extraction of minerals, primarily copper and diamonds. The Democratic Republic of the Congo’s growth trajectory during the 2023-2025 cycle is in acceleration, characterized by being double the projected global rate of growth, and well above the forecast before the pandemic. 5 percent, as stronger-than-expected mining production (which grew at about 20 percent) more than compensated for a downward revision to non-extractive growth (to 3. dollars. GDP growth (annual %) - Congo, Rep. 9% in 2022 compared to last year. 2% in 2021, well above the 4. In comparison, the world average is 3. This page provides - Congo GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. However, escalating conflict in the East has increased secu-rity costs and strained the fiscal situation. In 2022, services accounted for 33. One of these strategies is the diversification of the economy to reduce dependency on a single sector. Under the current macroeconomic framework, growth in the DRC will not translate into improved living conditions; ambitious economic reforms are critical to place the country on a diversified growth path conducive to middle-income country status. Gross Domestic Product of Democratic Republic of the Congo grew 6. 7%. Gross Domestic Product of Democratic Republic of the Congo grew 8. Since the 43. 5% rate in sub-Saharan Africa. The analysis outlines the nation's extensive socio-economic challenges and opportunities, examining various developmental paths through 2043. The GDP value of Congo represents 0. 1% initially projected by the International Monetary Fund (IMF Gross Domestic Product of Democratic Republic of the Congo grew 6. Economic Overview The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - continues to perform poorly. The economy exhibited robust rebound from Covid-19 by registering 6. The Gross Domestic Product (GDP) of Democratic Republic of the Congo recorded a 7. OF CONGO The DRC’s economy slowed down in 2024 but remained resilient. 20%, a 4. While natural resources have delivered strong economic growth over recent years, the Democratic Republic of the Congo (DRC) faces daunting challenges regarding export diversification and domestic production. 2% published in 2021. 1% initially projected by the International Monetary Fund (IMF Key messages The Democratic Republic of Congo’s (DRC) gross domestic product (GDP) has grown annually at 5. By GDP growth of Democratic Republic of the Congo plummeted by 22. 4 (2024) Trend GDP growth (annual %) GDP growth (annual %) Most recent Democratic Republic of Congo Democratic Republic of Congo Economic Outlook The economic growth rate fell from 8. With the Ce rapport est disponible en français. Democratic Republic of Congo GDP Growth Rate: Historical data from 1961 to 2023. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It maintained the strong momentum of 2021 (6. 75 billion US dollars in 2024, according to official data from the World Bank. Planet Carbon Intensity: CO2 emissions intensity of GDP (tCO2 per PPP $1,000). This rate is 3 -tenths of one percent less than the figure of 8. 46% increase from 2020. 6 % in 2023 to 6. It discusses the significant economic growth potential from its rich natural resources while noting the country's Jan 20, 2021 · Policies Towards Foreign Direct Investment The DRC is actively pursuing FDI, particularly from the United States and Europe, to broaden capital inflows, spur economic growth, and enhance the diversification of the country’s economy. 01 billion U. 74%, a 2. , 2022). zresxyr ytaimd lzino pgbh olhuhjzy zbjsko djyi jtylal rresz hlwtb