Foreign trade figures of Congo

Foreign Trade in Figures

Congo’s foreign trade policy promotes a favorable social and economic environment aimed at fostering international trade, which represented 110% of GDP in 2020 (World Bank). Customs duty are harmonized by the Central African Customs and Economic Union (UDEAC). They fluctuate between 5 and 30%. Congo is also a member of the Central African Economic and Monetary Community (CEMAC) and of the Economic Community of Central African States (ECCAS). However, its integration is being delayed. Congo mainly exports crude oil and refined petroleum (75% of total exports), vessels (14%), raw timber (7%), machinery and refined copper. Its main import products are special-use vessels (14% of total imports), machinery (11%), meat, electrical equipment, cereals, vehicles, steel structures, food and medicinal products (International Trade Centre).

Congo's exports are mainly sent to China (63.8% of total exports), Spain (8.6%), Gabon (4.6%), the United States, India and Peru; while its main suppliers are China (18.7% of total imports), France (14.5%), Belgium (7.4%), the United States, Spain and Indonesia (International Trade Centre).
 
In 2020, WTO data showed that the country’s exports and imports of goods were valued at USD 3.34 billion and USD 1.87 billion respectively. Export of goods and services decreased by -8.5% compared to 2019, while imports decreased by -10.4%. Due to the COVID-9 pandemic, trade volume dropped significantly in 2020. Import compression and increased oil exports resulted in large trade surplus in 2021 but in 2022, the import bill is expected to rise faster than oil exports (Coface).