2022 Sees Dramatic Surge in DRC Exports Fueled by Mining and Hydrocarbons
In 2022, Congo witnessed a substantial surge in exports, marking a notable 29.3% increase, primarily fueled by the external sales of mining and hydrocarbon products.
According to the Central Bank of Congo’s 2022 Monetary Policy report, exports soared to $28.68 billion, surpassing imports totaling around $26.70 billion.
Mining and hydrocarbon exports dominated the landscape, accounting for a staggering 99.4% of the total exports. This surge was largely attributed to the significant uptick in copper and cobalt export volumes, recording respective increases of 40.1% and 23.9%.
These increases were propelled by heightened demand across automotive, infrastructure, telecommunications, and healthcare sectors. Conversely, gold and oil exports experienced declines of 10.6% and 7.2%, respectively, throughout the year.
On the import front, the growth primarily stemmed from increased orders for raw materials, semi-products, and capital goods. Imports from the DRC surged by 46.3%, marking a notable uptick following a 53.8% increase in 2021.
The substantial increase in copper and cobalt export volumes, fueled by robust demand in automotive, telecommunications, infrastructure, and healthcare sectors, was the key driver behind the surge in export values throughout 2022.
