Exports
The Republic of Congo is a member of the World Trade Organization, the Economic and Monetary Community of Central Africa and the Bank of Central African States Congo’s. In 2020, the Republic of the Congo exported a total of $7.77B, thus becoming the number 96 exporter in the world. Over the last five years the exports reported have changed significantly, becoming the number 106 most complex economy according to the Economic Complexity Index and the number 142 economy in the world in terms of GDP.
While many countries have partnerships with this African country, China and the United Arab Emirates are the two most common destinations for the exports of Republic of the Congo.
As of 2020 the numbers from Congo-Brazzaville’s exports are as follows:
PRODUCT | EXPORT REVENUE
Crude Petroleum – $3.57B
Refined Copper -$2.22B
Special Purpose Ships – $505M
Refined Petroleum – $505M
Rough Wood – $248M
The petroleum industry is the main source of revenue for the country and in 2018the Republic of the Congo joined the Organization of Petroleum Exporting Countries (OPEC).
It is also estimated that the country holds some of the largest natural mineral reserves yet to be exploited. Natural gas also being a very significant export.
Also, while Congo-Brazzaville had been previously excluded from the Kimberly Process, it was later re-included in the group in 2007; as diamonds are also significantly large exports for the country
SERVICES | EXPORT REVENUE
Governmental – $48.9M
Transportation – $34.6M
Miscellaneous – $7.58M
Telecommunications – $6.57M
Personal travel – $6.01M
The countries The Republic of Congo exports to have changed quite a lot over the years; however data from 2020 establishes that the main allied ones are:
COUNTRY | REVENUE
China – $3B
United Arab Emirates – $1.54B
Spain – $568M
Vietnam – $341M
Italy – $264M
With the increase in the prices of petroleum, it is expected that exportations continue to grow in the last half of this year and the first quarter of the next. Nevertheless, there is still not official information available from the Central Bank and other financial institutions.