Economy (Zaire)
===============


     Overview:
         In 1990, in spite of large mineral resources Zaire had a GDP per capita of
         only about $260, putting it among the desperately poor African nations. The
         country's chronic economic problems worsened in 1991, with copper and cobalt
         production down 20-30%, inflation near 8,000% in 1991 as compared with 100%
         in 1987-89, and IMF and most World Bank support suspended until the
         institution of agreed-on changes. Agriculture, a key sector of the economy,
         employs 75% of the population but generates under 25% of GDP. The main
         potential for economic development has been the extractive industries.
         Mining and mineral processing account for about one-third of GDP and
         three-quarters of total export earnings. Zaire is the world's largest
         producer of diamonds and cobalt.
     GDP:
         exchange rate conversion - $9.8 billion, per capita $260; real growth rate
         -3% (1990 est.)
     Inflation rate (consumer prices):
         8,000% (1991)
     Unemployment rate:
         NA%
     Budget:
         revenues $685 million; expenditures $1.1 billion, does not include capital
         expenditures mostly financed by donors (1990)
     Exports:
         $2.2 billion (f.o.b., 1989 est.)
       commodities:
         copper 37%, coffee 24%, diamonds 12%, cobalt, crude oil
       partners:
         US, Belgium, France, FRG, Italy, UK, Japan, South Africa
     Imports:
         $2.1 billion (f.o.b., 1989 est.)
       commodities:
         consumer goods, foodstuffs, mining and other machinery, transport equipment,
         fuels
       partners:
         South Africa, US, Belgium, France, FRG, Italy, Japan, UK
     External debt:
         $7.9 billion (December 1990 est.)
     Industrial production:
         growth rate -7.3%; accounts for almost 30% of GDP (1989)
     Electricity:
         2,580,000 kW capacity; 6,000 million kWh produced, 160 kWh per capita (1991)
     Industries:
         mining, mineral processing, consumer products (including textiles, footwear,
         and cigarettes), processed foods and beverages, cement, diamonds
     Agriculture:
         cash crops - coffee, palm oil, rubber, quinine; food crops - cassava,
         bananas, root crops, corn
     Illicit drugs:
         illicit producer of cannabis, mostly for domestic consumption
     Economic aid:
         US commitments, including Ex-Im (FY70-89), $1.1 billion; Western (non-US)
         countries, ODA and OOF bilateral commitments (1970-89), $6.9 billion; OPEC
         bilateral aid (1979-89), $35 million; Communist countries (1970-89), $263
         million
     Currency:
         zaire (singular and plural); 1 zaire (Z) = 100 makuta
     Exchange rates:
         zaire (Z) per US$1 - 111,196 (March 1992), 15,587 (1991), 719 (1990), 381
         (1989), 187 (1988), 112 (1987)