The 2004 CIA World Factbook. United States. Central Intelligence Agency
problems and overstaffing. Oil
has supplanted forestry as the mainstay of the economy, providing a
major share of government revenues and exports. In the early 1980s,
rapidly rising oil revenues enabled the government to finance
large-scale development projects with GDP growth averaging 5%
annually, one of the highest rates in Africa. The government has
mortgaged a substantial portion of its oil earnings, contributing to
a shortage of revenues. The 12 January 1994 devaluation of Franc
Zone currencies by 50% resulted in inflation of 61% in 1994, but
inflation has subsided since. Economic reform efforts continued with
the support of international organizations, notably the World Bank
and the IMF. The reform program came to a halt in June 1997 when
civil war erupted. Denis SASSOU-NGUESSO, who returned to power when
the war ended in October 1997, publicly expressed interest in moving
forward on economic reforms and privatization and in renewing
cooperation with international financial institutions. However,
economic progress was badly hurt by slumping oil prices and the
resumption of armed conflict in December 1998, which worsened the
republic's budget deficit. The current administration presides over
an uneasy internal peace and faces difficult economic problems of
stimulating recovery and reducing poverty.
GDP:
purchasing power parity - $2.148 billion (2003 est.)
GDP - real growth rate:
1.3% (2003 est.)
GDP - per capita:
purchasing power parity - $700 (2003 est.)
GDP - composition by sector: agriculture: 6.9% industry: 53.9% services: 39.2% (2003 est.)
Investment (gross fixed):
31.3% of GDP (2003)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
2.4% (2003 est.)
Labor force:
NA (2000 est.)
Unemployment rate:
NA (2003)
Budget:
revenues: $1.025 billion
expenditures: $946.8 million, including capital expenditures of NA
(2003 est.)
Agriculture - products:
cassava (tapioca), sugar, rice, corn, peanuts, vegetables, coffee,
cocoa; forest products
Industries:
petroleum extraction, cement, lumber, brewing, sugar, palm oil,
soap, flour, cigarettes
Industrial production growth rate:
0% (2002 est.)
Electricity - production:
358.1 million kWh (2001)
Electricity - consumption:
633 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
300 million kWh (2001)
Oil - production:
275,000 bbl/day (2001 est.)
Oil - consumption:
5,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Oil - proved reserves:
93.5 million bbl (1 January 2002)
Natural gas - production:
0 cu m (2001 est.)
Natural gas - consumption:
0 cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
0 cu m (2001 est.)
Natural gas - proved reserves:
495.5 million cu m (1 January 2002)
Current account balance:
$139.2 million (2003)
Exports:
$2.293 billion f.o.b. (2003 est.)
Exports - commodities:
petroleum, lumber, plywood, sugar, cocoa, coffee, diamonds
Exports - partners:
China 28.6%, Taiwan 19.3%, US 16%, South Korea 12.9% (2003)
Imports:
$666.9 million f.o.b. (2003 est.)
Imports - commodities:
capital equipment, construction materials, foodstuffs
Imports - partners:
France 22.2%, US 6.8%, Italy 6.2%, China 5.1%, Belgium 4.6%, India
4.4% (2003)
Reserves of foreign exchange & gold:
$44.53 million (2003)
Debt - external:
$5 billion (2000 est.)
Economic aid - recipient:
$159.1 million (1995)
Currency:
Communaute Financiere Africaine franc (XAF); note - responsible
authority is the Bank of the Central African States
Currency code:
XAF
Exchange rates:
Communaute Financiere Africaine francs (XAF) per US dollar - 581.2
(2003), 696.988 (2002), 733.039 (2001), 711.98 (2000), 615.7 (1999)
Fiscal year:
calendar year
Communications Congo, Republic of the
Telephones - main lines in use:
7,000 (2003)
Telephones - mobile cellular:
330,000 (2003)
Telephone system:
general assessment: services barely adequate for government use;
key exchanges are in Brazzaville, Pointe-Noire, and Loubomo;
intercity lines frequently out of order
domestic: primary network consists of microwave radio relay and
coaxial cable
international: country code - 242; satellite earth station - 1
Intelsat (Atlantic Ocean)
Radio broadcast stations:
AM 1, FM 5, shortwave 3 (2001)
Radios: