With a surface area of 342,000 km² and a population of 6.107 million, the Republic of Congo is a growing country: from the oil sector, to the timber industry, to agriculture, in this article we take a look at the pillars of the Congolese economy, and tell you all about it. How are the resources of the Republic of Congo managed, how are the rents classified, we come back with you on the capital inflows of the State of Congo, we make a topo with you on the bases of the economy of the Republic of Congo.

Oil revenues

Accounting for 57% of the country’s budget revenues, oil is the Republic of Congo’s main source of income. The amount brought in by oil is 1,491.4 billion CFA francs, or nearly 2.3 billion dollars. For the government of the Republic of Congo, this represents the repayment of external loans, provisions and potential reserves and miscellaneous, plus the repayment of domestic bonds and debt (ota+bta).

Oil in the Republic of Congo is exploited by Total, Maurel & Prom and Eni, which are French and Italian companies respectively. On its territory, oil is redistributed by 5 service stations: Total (36 stations), Puma (27 stations), X oil (15 stations), Afric’ (6 stations) and SNCP (9 stations).

The oil rents are located on the coast near Pointe-Noire, the country’s economic capital. It employs nearly 4,000 people and extracts around 400,000 barrels a day.

The Republic of Congo’s petroleum legislation states that no one may undertake any upstream activity on the territory of the Republic of Congo without prior authorisation from the State in the form of either a prospecting authorisation or a mining title. Mining titles are neither transferable nor assignable. They constitute rights distinct from ownership of the land, indivisible and non-assignable. They are granted exclusively to national companies.

The majority of production sites are offshore drilling sites, requiring the installation of floating platforms off the country’s coasts. The harvested oil is loaded directly into tankers for sale to the rest of the world. Refining takes place in Pointe-Noire. The oil rigs employ both foreign and local workers, and are important employment centres as well as being major economic centres.

The timber industry

Covering almost 60% of the Republic of Congo’s territory, the timber industry is the second pillar of the Congolese economy. In terms of value and the size of its forests, it comes second in the rankings; the timber exploited by the Republic of Congo is mainly noble wood. Okoumé, mahogany, redwood and limba logs are found in the Republic of Congo’s forests.

Logging in the Congo is primarily carried out by local lumberjacks. The timber then enters the wood product chain for export, or for use on the local market.

In terms of value, the timber industry represents 580 million FCFA, or around 1 million dollars. Legislation governing the logging profession is as follows: logging permits are issued for the exploitation of trees in forest plantations forming part of the State forest estate. Permits are limited in time, to a maximum of 6 months, and in the number of trees harvested.

Timber cut in the Republic of Congo is used as firewood, but is also transformed into planks, parquet, doors, beams and furniture. When exported, they are primarily used for furnishings and ornaments.

Timber companies in the Republic of Congo include Brazzaville-based CIB, Pointe-Noire-based SICOFOR and Brazzaville-based CDWI.

Wood in the Republic of Congo is a prized and rare resource, protected by the government for its ecological and financial value. The Congolese are very attached to their forests.

The agricultural sector

The third pillar of the Republic of Congo’s economy, and by no means the least, is the agricultural sector. Employing almost 40% of the working population, agriculture generates 5% of the country’s GDP. It is the main occupation of Congolese families, with 80% of farms being family-run. Cocoa, manioc, corn, beans and fruit of all kinds are grown.

The agricultural sector is an important topic in the Congo, as it boasts 10 million hectares of arable land, i.e. 1/3 of its surface area.

Agriculture is a major subject, and is the focus of government initiatives such as the creation of protected agricultural zones (ZAP) and special economic zones (ZES). The former would be equipped and motorized government agricultural zones, while the latter would offer tax and customs advantages.

The Republic of Congo’s agricultural sector is also supported by the World Bank, the European Union, the African Development Bank, and AFD in cooperation with France.