Economic trends
The economy of the Democratic Republic of Congo (DRC) is marked by the two decades of political conflict. The main element of its growth is agriculture and lately, since a few years ago, the mining sector is more dynamic. In 2012, major projects will take place in public infrastructures (financed by the Exim Bank, the World's Bank and the European Union).
According to the forecast, GDP's growth should reach almost 6% in 2012, notably due to the new mining projects. Regarding economic policies, the new government of Joseph Kabila should establish reforms based on the context of the extended credit facility program (FEC) and implement a series of structural measures to promote a strong growth, to control inflation and to improve the business climate. However, the interests of the president's clan are opposing more and more to these reforms, in particular those that concern the need of transparency in the transactions of raw materials. This corruption that rules in the country is a real hindrance to the development and conceals the genuine potential of the country, since a large proportion of the economic activity has taken place in an informal manner and it is not reflected in the official data. The internal conflicts and humanitarian crisis that have followed are real challenges, not only for the government but also for the sponsors of international funds.
Main branches of industry
International trade
The government of Joseph Kabila has established a series of reforms aiming to improve the business framework and to diversify its exports. He is currently trying to promote regional integration. However, the country, after having experienced its first democratic transition in 2006, has to manage the challenge posed by its political instability. These transitional difficulties have a great influence in the country's economic performance.
The DRC imports much more than what it exports, which translates into a substantial deficit in its trade balance, a trend that should continue in 2012. The future exploitation of oil deposits recently discovered on the shores of Lake Albert in the northeast part of the country, represents new commercial perspectives in a mid-term.
The main trade partners of the Democratic Republic of Congo are the European Union, China and the countries members of the SADC (Community of Development of Southern Africa).
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Last updates: May 2012
