Congo

Republic of Congo country profile

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Short name Congo
Official  name

Republic of Congo

Location Central   Africa
Capital Brazzaville
Population 4.2 million inhabitants
Area 342,000 sq km (132,047 sq miles)
Languages French, indigenous African languages
Religions Christianity, indigenous African beliefs

 

The Republic of the Congo is also known as Congo-Brazzaville, or Little Congo. It sits in Central Africa and is bordered by Cameroon, the Central African Republic, the Democratic Republic of the Congo, Angola’s exclave province of Cabinda, Gabon, and the Gulf of Guinea.

Nearly half the population lives in poverty, according to the World Bank, even though the Republic of Congo is one of sub-Saharan Africa’s main oil producers.

Oil is the mainstay of the economy and in recent years the country has tried to increase financial transparency in the sector.

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The Republic of the Congo is the 88th largest export economy in the world and the 118th most complex economy according to the Economic Complexity Index (ECI). In 2014, the Republic of the Congo exported $11.2B and imported $5.05B, resulting in a positive trade balance of $6.11B. In 2014 the GDP of the Republic of the Congo was $14.2B and its GDP per capita was $6.28k.

The Republic Of The Congo borders Angola, Republic, Cameroon, the Democratic Republic of the Congo and Gabon.

Trade Balance

As of 2014 the Republic of the Congo had a positive trade balance of $6.11B in net exports. As compared to their trade balance in 1995 when they still had a positive trade balance of $110M in net exports.

 

 

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Exports

The top exports of the Republic of the Congo are Crude Petroleum($7.21B), Special Purpose Ships ($972M), Refined Copper ($909M),Passenger and Cargo Ships ($703M) and Refined Petroleum ($355M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Palm Oil ($231M), Iron Pipes ($187M), Refined Petroleum ($163M), Special Purpose Ships ($132M) and Cars ($128M).

In 2014 the Republic of the Congo exported $11.2B, making it the 88th largest exporter in the world. During the last five years the exports of the Republic of the Congo have increased at an annualized rate of 1.9%, from $10.2B in 2009 to $11.2B in 2014. The most recent exports are led by Crude Petroleum which represents 64.6% of the total exports of the Republic of the Congo, followed by Special Purpose Ships, which account for 8.71%.

Imports

In 2014 the Republic of the Congo imported $5.05B, making it the 134th largest importer in the world. During the last five years the imports of the Republic of the Congo have decreased at an annualized rate of -2.7%, from $5.8B in 2009 to $5.05B in 2014. The most recent imports are machinery, transportation
equipment, fuel, food .

 

Destinations

The top export destinations of the Republic of the Congo are China ($4.84B), Italy ($823M), Australia ($694M), Gabon ($542M) and the United States ($397M). The top import origins are France ($759M), China ($710M), Italy ($391M), Belgium-Luxembourg ($366M) and Tanzania ($292M).

 

 

Origins

The top import origins of the Republic of the Congo are France ($759M), China ($710M), Italy ($391M), Belgium-Luxembourg ($366M) and Tanzania ($292M).

Finance and Investment

The economy of the Congo consists of agriculture, oil, support services, handicrafts, and government. The government has budget problems and is overstaffed. Oil production has largely replaced forestry as the economy’s cornerstone. In 2008, oil production was 65 percent of GDP, 92 percent of exports, and 85 percent of revenue. The oil revenues in the 1980s allowed development projects to begin and gave rise to 5 percent annual GDP growth.

 

 

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