Congo, Republic of

Upon independence in 1960, the former French region of Middle Congo became the Republic of the Congo. A quarter century of experimentation with Marxism was abandoned in 1990 and a democratically elected government took office in 1992. A brief civil war in 1997 restored former Marxist President Denis SASSOU-NGUESSO, and ushered in a period of ethnic and political unrest. Southern-based rebel groups agreed to a final peace accord in March 2003, but the calm is tenuous and refugees continue to present a humanitarian crisis. The Republic of Congo was once one of Africa's largest petroleum producers, but with declining production it will need to hope for new offshore oil finds to sustain its oil earnings over the long term.

Main Airports

Brazzaville (BZV) (Maya Maya), Pointe-Noire (PNR)

U.S. Embassy

An office representing U.S. interests in Brazzaville is located at U.S. Embassy Kinshasa, 310 Avenue des Aviateurs, Kinshasa, Democratic Republic of the Congo
tel: (243) 81-225-5872 x2141

Statistics

GDP: purchasing power parity:

$4.631 billion (2005 est.)

GDP - real growth rate:

8% (2005 est.)

GDP - per capita: purchasing power parity:

1,300 (2005 est.)

Inflation rate (consumer prices):

2.2% (2005 est.)

Labor force:

NA

Exports:

$2.209 billion f.o.b. (2005 est.)

Exports - partners:

China 39.1%, US 29.1%, Taiwan 11.8%, South Korea 7.2% (2005)

Imports:

$806.5 million f.o.b. (2005 est.)

Imports - partners:

France 28.6%, China 12.6%, US 9%, Italy 8.3%, Belgium 5.7%, Netherlands 4.7% (2005)

Population:

3,702,314 (July 2006 est.)

Population growth rate:

2.6% (2006 est.)

Population Below Poverty Line:

NA

Major Industries:

petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes

Employing Workers: 163*

Registering Property: 163*

Enforcing Contracts: 155*

Closing a Business: 110*

*2006 World Bank rank out of 175 countries

Starting a Business

The table below shows the number of steps and the amount of time needed to start a business, on average

Indicator	Congo, Republic of	Region
Procedures (number)	8	11.1
Time (days)	71	61.8

Congo, Republic of Risk Assessment

Country Rating

Rating: C

A very uncertain political and economic outlook and a business environment with many troublesome weaknesses can have a significant impact on corporate payment behaviour. Corporate default probability is high.

Risk Assessment

Economic growth slowed markedly in 2007 as a result of the decline in oil production. The economy should rebound in 2008 with growth exceeding seven per cent thanks to start of exploitation of new oil fields. Lacking diversification, the economy has been very dependent on an oil sector representing 55 per cent of GDP and 95 per cent of exports. The non-oil sector, which presents great development potential, particularly in agriculture, forestry, and construction, should also experience strong growth, driven by large public investments. Dilapidated infrastructure and governance shortcomings should, however, continue to hamper economic activity.

Public sector accounts continued to show large surpluses in 2007 despite substantial slippage on public spending. External accounts have also benefited from the oil wealth. Reforms undertaken in the management of that wealth along with efforts made on governance allowed President Sassou Nguesso to obtain in November 2007 cancellation of 80 per cent of the country's trade debt from the London Club and of virtually all debt with the Paris Club. Fiscal laxity has, however, delayed agreement on a poverty reduction programme pending with the IMF since 2004, and, thereafter, debt relief from multilateral institutions under the MDRI programme. In this context, the Congo's per capita debt is among the highest in the world.

In 2008, the political scene will be marked by preparations for the presidential elections scheduled in 2009. The Congo's political stability should not, however, be in jeopardy with President SassouNguesso's Congolese Labour Party emerging from the August 2007 legislative elections with an overwhelming majority. President Sassou Nguesso hopes to capitalise on the current situation to unify all pro-presidential parties and establish himself as "father to the entire nation". There are nonetheless still major risks. Besides a nettlesome social situation, violent incidents between the army and the rebels have irrupted repeatedly in the Pool region despite the March 2003 peace treaty.

• Agriculture
• Apparel
• Arts & Crafts
• Automobile
• Bags, Cases & Boxes
• Chemicals
• Computer Hardware & Software
• Construction & Real Estate
• Consumer Electronics
• Electrical & Electronics
• Energy & Environment
• Food & Beverage
• Furniture & Furnishing
• Health & Medicine
• Home Supplies
• Industrial Supplies
• Lights & Lighting
• Machinery
• Mineral & Materials
• Office Supplies
• Security & Protection
• Service
• Sports & Entertainment
• Telecommunications
• Textile
• Toys
• Transportation