REPUBLIC OF CONGO

Hidden debt darkens the outlook

D4

HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD 7.8bn (World ranking 140, World Bank 2016)
Population 5.1 million (World ranking 118, World Bank 2016)
Form of state Republic
Head of government Denis Sassou-Nguesso
Next elections Presidential 2021
  • Good natural resource base: oil, forestry and minerals.
  • Strategically positioned in Central Africa, possessing a 170-kilometer long coastal front on the Atlantic Ocean and a deep-water port in Pointe-Noire that could benefit the entire sub-region.
  • Highly urbanized country considering its level of per capita income: 70% of the population living in cities.
  • High (and partly hidden) debt.
  • History of political instability.
  • Despite a new constitution and an electoral system, executive powers are effectively held by the president. This entails inherent risks relating to autocracy and succession.
  • Widespread poverty and high unemployment.
  • Relatively weak infrastructure development to support communications, trade and growth.
  • Dependence on the oil sector. Small manufacturing base.
  • The business environment is challenging, and private sector development remains weak.

Trade structure by destination/origin

(% of total)

Exports Rank Imports
China 44%
1
15% China
Australia 8%
2
14% France
Italy 6%
3
6% Italy
United Arab Emirates 5%
4
6% Belgium
United States 4%
5
5% United States

Trade structure by product

(% of total)

Exports Rank Imports
Petroleum, petroleum products and related materials 71%
1
15% Other transport equipment
Other transport equipment 12%
2
7% Road vehicles
Non-ferrous metals 10%
3
7% Other industrial machinery and parts
Cork and wood 3%
4
6% Iron and steel
Gas, natural and manufactured 1%
5
5% Manufactures of metal, n.e.s.

Contact Euler Hermes

Economic Research Team

research@eulerhermes.com

Contact Stéphane Colliac

Senior Economist for France and Africa

stephane.colliac@eulerhermes.com

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