Foreign trade figures of Congo

Foreign Trade in Figures

Congo's foreign trade policy aims to create a conducive environment for international trade, which constitutes around 96% of its GDP (World Bank, latest data available). Customs duties are harmonized by the Central African Customs and Economic Union (UDEAC), ranging from 5% to 30%. As a member of the Central African Economic and Monetary Community (CEMAC) and the Economic Community of Central African States (ECCAS), Congo is integrated into regional trade frameworks. Crude oil is the primary export of Congo, accounting for around 90% of total exports. Raw timber follows as the second-largest export item, with petroleum oils or bituminous minerals and sawn timber also contributing (data French Ministry of Economy). In terms of imports, agricultural and agri-food products are the primary items. This category includes products like "meat and edible offal," "wheat and meslin," "fish," palm oil, and rice. "Instruments and apparatus for medicine" constitute the second-largest import category, followed by "medicines" (data French Ministry of Economy).

In 2023, China emerged as the leading customer and supplier of Congo, accounting for 46.2% of Congolese exports and holding a 23.9% market share in imports. Other important export partners were the United Arab Emirates (22.9%), India (5.6%), Saudi Arabia (5.5%), and Portugal (2.9%). On the other hand, Angola (19.7%), Gabon (9.1%), France (5.9%), and the United Arab Emirates (4.6%) were the main import origins after China (data OEC 2023).

Congo maintains a structurally positive trade balance, largely due to its high exports of hydrocarbons. In 2023, its exports of goods were valued at USD 5.9 billion (down from 7.1 billion one year earlier, due to lower global hydrocarbon prices), while imports totalled USD 3.9 billion (+29.9% y-o-y). In the same year, the country's trade surplus was estimated at 17.6% of GDP, down from 29.5% in the previous year (World Bank, latest data available). According to preliminary figures from the National Statistics Institute (INS), Congo's total exports in the first half of 2024 amounted to XOF 2,255.14 billion (XOF 1,134.15 billion for the first quarter and XOF 1,120.99 billion for the second quarter). This represents a year-on-year decline of 29.47% compared to the first half of 2023. Meanwhile, imports totalled XOF 1,198.78 billion (XOF 599.08 billion for the first quarter and XOF 599.70 billion for the second quarter), showing a year-on-year increase of 7.74%.