Economic trends
The economy of DRC (Democratic Republic of Congo) is recovering from two decades of political conflict. Though agriculture is the mainstay of the economy, the country is also rich in mineral resources like diamonds, copper and cobalt. The mining sector is the largest source of export revenue for the country.
The mining sector is still unexploited and offers high growth potential. Despite the country’s improved economic stability for the period between 2003-2007, factors such as poor infrastructures, corruption, lack of transparency in government policies, and a changeable legal framework continue to slow down growth. Moreover, a large portion of the economic activity is in the informal sector and is not reflected in official GDP data.
Agriculture represents less than half of the GDP. The manufacturing and services sectors respectively contribute to nearly one third of the Congolese wealth.
In 2009, the country recorded a rather low growth rate, despite several positive elements like mining and the implementation of structural reforms. The humanitarian crisis and domestic conflicts, especially those relating to the waves of refugees from neighboring African countries, affect the country's development. Overall, DRC was one of the countries most affected by the global economic and financial crisis.
Main branches of industry
International trade
The Democratic Republic of Congo (DRC) is open to foreign trade. Indeed the government of President Joseph Kabila has implemented a series of reforms aimed at improving Congo's business framework and diversifying exports.
The country had its first democratic transition in 2006 and has to tackle the challenge posed by the political instability in the eastern part of the country. This difficulty significantly affects the country's economic performance.
DRC imports much more that it exports, which translates into a substantial trade balance deficit that is expected to remain negative for the next decade. Congo's main trade partners are the European Union, China and the SADC (Community of Development of Southern Africa) member countries.
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