Export to the Democratic Republic of the Congo
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Multisectors
Growth estimates, based on production at the end of March 2020, call for a contraction in GDP of -2.4%, compared to the 1.9% initially forecast. The World Bank puts growth at -3.8% in the worst-case scenario of coronavirus spread.
However, the gradual recovery of global economic activity and the launch of production at the Kamoa-Kakula mine should enable a recovery in economic growth to 4.5% in 2022. The price of copper increased by 21% in the second quarter of 2020. Gold reached a new record in July 2020 at USD 1,760/oz. As for zinc, its price will continue to increase for the rest of 2020, with improved Chinese demand. The statistics show that the price of cobalt fell by 15% since February 2020 and now stands at USD 30,000/ton.
With GDP of USD 45 billion and a population of nearly 100 million, this further tests the resilience of the population, which lives on USD 1.4 per day per person. Given that population growth is 3.5% on average, this will mean a real decrease in GDP per inhabitant: USD 542.76 (2019) against USD 504.75 (2020).
Interested in exporting to the DRC?
Would you like to know more about the current export context, your first steps on the market, or the local business culture? Please contact our local economic and commercial attaché to receive the DRC fact sheet.
Contact
Laurence Heyblom
Kuwait - Bahrain - Qatar - United Arab EmiratesEmbassy of Belgium
PO Box 3280
Safat 13033
Kuwait
+488 69 25 94