Congo+Economics


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ECONOMICS IN THE CONGO


 * DR Congo's economy has been **suppressed by years of conflict and corruption**, but its mineral reserves indicates it has **potential** to be a **wealthy** **country**.


 * The DR Congo is one of **poorest countries in the world** and has a **per capita annual income of about $98** in 2003.


 * The **$870m diamond industry** provides work for around one million people, but many diggers e**arn less than one dollar a day in dangerous conditions**.


 * Between 1999 and 2001, DR Congo enjoyed a **brief coltan boom**, becoming the **second largest producer of tantalum**- used in mobile phones.


 * **War has disrupted farming** as well as **trade** and the country **lacks infrastructure** to provide adequate food, clean water, healthcare and education.


 * **Elections are hoped to create** an environment for **greater foreign investment** and a **more organized utilization of resources.**


 * The DR Congo has a labor force of some 14.5 million workers; however, working conditions are typically very poor.


 * Most Congolese earn less than **$40.00 a month**. Many of them **supplement** their **incomes** by doing **odd jobs** on the side. Many Congolese **heavily depend on the assistance of their extended families** and must contribute to their well being.

 **GDP (2009):** $10.82 billion.

 **Annual GDP growth rate (2009):** 2.7%.

 **Currency:**   New Zaire (CFAF).

 **Per capita GDP (2009):** $171.

 **Natural resources:** Copper, cobalt, diamonds, gold, other minerals; petroleum; wood; hydroelectric potential.

 **Agriculture:** the mainstay of the Congolese economy accounting for 56.3% of GDP in 2002.
 * //Cash crops//--coffee, rubber, palm oil, cotton, cocoa, sugar, tea. //Food crops//--manioc, corn, legumes, plantains, peanuts.

 **Land use**
 * Agriculture 3%
 * pasture 7%
 * forest/woodland 77%
 * other 13%

 **Industry:** //Types//--processed and unprocessed minerals; consumer products, including textiles, plastics, footwear, cigarettes, metal products; processed foods and beverages, cement, timber.

 **Currency:** Congolese franc (FC). The U.S. dollar is also used as legal tender.

<span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;"> **Trade:**
 * <span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;">//**Exports**// **(2009 est.)** $3.787 billion.
 * <span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;">//Products// --diamonds, cobalt, copper, coffee, petroleum. //Main partners--//EU, Japan, South Africa, U.S., China.
 * Diamonds dominate exports, accounting for over half of exports ($642 million) in 2003.


 * <span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;">//**Imports**//**(2009 est.)** $5.254 billion.
 * <span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;">//Products// --consumer goods (food, textiles), capital equipment, refined petroleum products. //Partners--//EU, China, South Africa, U.S.

<span style="color: #252525; font-family: 'Lucida Grande',Arial,Verdana,sans-serif; font-size: 12px; line-height: 20px;"> **Official debt (est.):** $13.5 billion.


 * Resources:**

<span style="font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 11px; line-height: normal;">Background Note: Democratic Republic of the Congo. (n.d.).//U.S. Department of State//. Retrieved December 12, 2010, from<span style="background-attachment: initial; background-clip: initial; background-color: initial; background-origin: initial; background-position: 100% 50%; background-repeat: no-repeat no-repeat; cursor: pointer; padding-right: 10px;">[]

<span style="font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 11px; line-height: normal;">BBC NEWS | In Depth. (n.d.).//BBC News - Home//. Retrieved December 12, 2010, from http://news.bbc.co.uk/2/shared

<span style="background-attachment: initial; background-clip: initial; background-color: initial; background-origin: initial; background-position: 100% 50%; background-repeat: no-repeat no-repeat; cursor: pointer; font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 11px; line-height: normal; padding-right: 10px;">Congo, Democratic Republic of The Working conditions, Information about Working conditions in Congo, Democratic Republic of The. (n.d.). //Encyclopedia of the Nations - Information about countries of the world, United Nations, and World Leaders//. Retrieved December 13, 2010, from http://www.nationsencyclopedia.com/economies/Africa/Congo-Democratic-Republic-of-The-WORKING-CONDITIONS.html

<span style="font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 11px; line-height: normal;">Democratic Republic of the Congo. (n.d.). //Fact Monster//. Retrieved December 12, 2010, from <span style="background-attachment: initial; background-clip: initial; background-color: initial; background-origin: initial; background-position: 100% 50%; background-repeat: no-repeat no-repeat; cursor: pointer; padding-right: 10px;">[]