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Economy of The Democratic Republic of Congo

The Democratic Republic of Congo is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, The Democratic Republic of Congo may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, The Democratic Republic of Congo exports around $9.94 billion and imports roughly $8.92 billion. 3.7% of population in the country are unemployed. The total number of unemployed people in The Democratic Republic of Congo is 3,108,185. In The Democratic Republic of Congo, 63% of the population lives below the poverty line. The percentage of citizens living below the poverty line in The Democratic Republic of Congo is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 2.5% of GDP. The Gini Index of the country is 42. The Democratic Republic of Congo is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. The Democratic Republic of Congo has a Human Development Index (HDI) of 0.338. The Democratic Republic of Congo has a lower medium HDI score. This indicates that the majority of citizens will struggle to attain a desirable life due to flawed economic and social systems. The Global Peace Index (GPI) for The Democratic Republic of Congo is 3.085. The strength of legal rights index for The Democratic Republic of Congo is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of The Democratic Republic of Congo is Congolese franc. The plural form of the word Congolese franc is francs. The symbol used for this currency is Fr, and it is abbreviated as CDF. The Congolese franc is divided into Centime; there are 100 in one franc.

Credit rating

Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of The Democratic Republic of Congo.

Central bank

The prime lending rate of The Democratic Republic of Congo's commercial banks is 17.4. In The Democratic Republic of Congo, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of the Congo. Locally, the central bank of The Democratic Republic of Congo is called Banque Centrale du Congo. The average deposit interest rate offered by local banks in The Democratic Republic of Congo is 4%.

Public debt

The Democratic Republic of Congo has a government debt of 48% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in The Democratic Republic of Congo is set at 35%. The maximum personal income tax is%.VAT in The Democratic Republic of Congo is 16%, and it is known as Sales Tax.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in The Democratic Republic of Congo is $57775 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in The Democratic Republic of Congo was last recorded at $1 million. PPP in The Democratic Republic of Congo is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in The Democratic Republic of Congo is 32,691 billion. Based on this statistic, The Democratic Republic of Congo is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in The Democratic Republic of Congo was last recorded at $0 million. The average citizen in The Democratic Republic of Congo has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in The Democratic Republic of Congo averaged 8.6% in 2014. According to this percentage, The Democratic Republic of Congo is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of The Democratic Republic of Congo.

Industry

Major industries in the country are 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. The total labor force of The Democratic Republic of Congo is 31,643,630 people, wherein 3.7% of population in the country are unemployed. The total number of unemployed people in The Democratic Republic of Congo is 3,108,185. The Industrial Production growth rate of The Democratic Republic of Congo is 11.4%.To read more about industrial information within The Democratic Republic of Congo click on industry of The Democratic Republic of Congo.

Agriculture

There are 64853 km2 of arable land in The Democratic Republic of Congo, and it comprises 3% of the country's total territory. There are 75511 km2 of cultivated land in The Democratic Republic of Congo. The country's major agricultural crops and products are coffee, sugar, palm oil, rubber, tea, quinine, cassava, palm oil, bananas, root crops, corn, fruits, wood products.To read more about agriculture click on agriculture of The Democratic Republic of Congo.