Education in the Democratic Republic of the Congo
Government in the Democratic Republic of the Congo
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Democratic Republic of the Congo Oil Consumption and Production
Oil Production: 20 thousand barrels per day
Oil Consumption: 9.32 thousand barrels per day
The Democratic Republic of the Congo produces more oil than they consume. Currently, according to the CIA World Factbook, the Democratic Republic of the Congo is ranked 73 out of 211 in Oil Production, and 157 out 211 in Oil Consumption. The country also imports about 16,000 barrels of refined petroleum products a day. To put it in perspective, the United State imports over 2,000,000 barrels a day, and the top importer, the European Union, imports over 8,000,000 barrels a day. According to the CIA Factbook, the DRC emits about 2.481 million metric tons of CO2 from the consumption of energy, which puts the country at 146 out of the 213 countries with information available. Add this to prior knowledge about road conditions and the country's economy, it paints a picture of a poor, developing country that is still going through a period of industrialization. Roads are few, and often unpaved. Not many people own vehicles, not only because of poor road conditions, but also because they are often too poor to afford a car or even a motorbike. The main method of travel and transportation is by canoe, as waterways are extensive and run through most of the country. The low CO2 emissions show that the country does not rely on the burning of fossil fuels for energy. In fact, the largest source of energy is from hydroelectric plants.
Looking at this information, it raises a couple of questions for the future of the country:
Although the Democratic Republic of the Congo is not the biggest producer of oil, it is still ranked in the top 50%. However, the Democratic Republic of the Congo does have a relatively large proved reserve of crude oil (ranked 53 by the CIA Factbook). How will this affect the future economy of the DRC?
As of now, the Democratic Republic of the Congo is one of the poorest countries, by GDP per capita, in the world. However, the country is experiencing one of the highest GDP growth rates as well. The government seeks to move out of extreme poverty and improve the economic and living conditions the DRC. How will this progress impact the consumption and production of oil products in the DRC? And how will this affect the rest of the world, in regards to consumption and the emission of greenhouse gases?
Oil Consumption: 9.32 thousand barrels per day
The Democratic Republic of the Congo produces more oil than they consume. Currently, according to the CIA World Factbook, the Democratic Republic of the Congo is ranked 73 out of 211 in Oil Production, and 157 out 211 in Oil Consumption. The country also imports about 16,000 barrels of refined petroleum products a day. To put it in perspective, the United State imports over 2,000,000 barrels a day, and the top importer, the European Union, imports over 8,000,000 barrels a day. According to the CIA Factbook, the DRC emits about 2.481 million metric tons of CO2 from the consumption of energy, which puts the country at 146 out of the 213 countries with information available. Add this to prior knowledge about road conditions and the country's economy, it paints a picture of a poor, developing country that is still going through a period of industrialization. Roads are few, and often unpaved. Not many people own vehicles, not only because of poor road conditions, but also because they are often too poor to afford a car or even a motorbike. The main method of travel and transportation is by canoe, as waterways are extensive and run through most of the country. The low CO2 emissions show that the country does not rely on the burning of fossil fuels for energy. In fact, the largest source of energy is from hydroelectric plants.
Looking at this information, it raises a couple of questions for the future of the country:
Although the Democratic Republic of the Congo is not the biggest producer of oil, it is still ranked in the top 50%. However, the Democratic Republic of the Congo does have a relatively large proved reserve of crude oil (ranked 53 by the CIA Factbook). How will this affect the future economy of the DRC?
As of now, the Democratic Republic of the Congo is one of the poorest countries, by GDP per capita, in the world. However, the country is experiencing one of the highest GDP growth rates as well. The government seeks to move out of extreme poverty and improve the economic and living conditions the DRC. How will this progress impact the consumption and production of oil products in the DRC? And how will this affect the rest of the world, in regards to consumption and the emission of greenhouse gases?
The Economy of the DRC
The Democratic Republic of the Congo is a very rich country, in terms of natural resources. It has a large mining and agricultural industry, as well as in consumer products such as textiles and footwear. The country produces a lot of agricultural crops: coffee, sugar, palm oil, rubber, tea, cotton, cocoa, etc. The country is also rich in many natural ores and minerals: copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten, etc. And while some of these resources are kept and used within the country, much of the goods that are produced are then exported to other countries. The export of goods and services makes up about 58% of the country’s GDP. The DRC’s main exports are diamond, copper, gold, cobalt, wood products, crude oil, and coffee. The country’s main export partner is China, followed by Zambia, Italy, and Belgium.
Sources:
Sources:
- Democratic Republic of Congo. (2015). Retrieved August 1, 2015, from http://www.heritage.org/index/country/democraticrepubliccongo
- Democratic Republic of the Congo: Economy. (2015). Retrieved August 1, 2015, from http://globaledge.msu.edu/countries/democratic-republic-of-the-congo/economy
- The World Factbook: Democratic Republic of the Congo. (2015, July 30). Retrieved August 1, 2015, from https://www.cia.gov/library/publications/the-world-factbook/geos/cg.html
Read more about Democratic Republic of Congo Economy. See more from the 2015 Index.
The Democratic Republic of the Congo has a mixed economy, in which the economy is a combination of free market and command economic policies. That means the country has both a private sector, in which use of resources is determined by individuals, and a public sector, in which the government makes the economic decisions. However, not all mixed economies are created equal. Countries vary in the level of economic freedom that its people have. The Democratic Republic of the Congo, while being a mixed economy, does not have the same level of economic freedom as the United States has. It has a suffering private sector that faces many difficulties with barriers and regulations instigated by the government. It is ranked 168 in level of economic freedom, making it one of the lowest in the world.
Looking at the three Economic Indicators, it shows a low-income developing country that is trying to improve its economic conditions. As of 2012, the percentage of the population below the national poverty line is 63.6%. This puts the Democratic Republic of the Congo as having one of the highest poverty rates in the world. However, the poverty rate has decreased from what it was in 2005 (71.3%). The Democratic Republic of the Congo had an unemployment rate of 8.2% that stayed consistent until 2013, when it dropped to 8.0%. On the brighter side, the Democratic Republic of the Congo has one of the highest GDP growth rates in the world. The GDP growth rate has also been increasing over time, from 2.9% in 2009 to 9.0% in 2014.
Sources:
Looking at the three Economic Indicators, it shows a low-income developing country that is trying to improve its economic conditions. As of 2012, the percentage of the population below the national poverty line is 63.6%. This puts the Democratic Republic of the Congo as having one of the highest poverty rates in the world. However, the poverty rate has decreased from what it was in 2005 (71.3%). The Democratic Republic of the Congo had an unemployment rate of 8.2% that stayed consistent until 2013, when it dropped to 8.0%. On the brighter side, the Democratic Republic of the Congo has one of the highest GDP growth rates in the world. The GDP growth rate has also been increasing over time, from 2.9% in 2009 to 9.0% in 2014.
Sources:
- Population below national poverty line, total, percentage. (2015). Retrieved August 1, 2015, from https://data.un.org/Data.aspx?d=MDG&f=seriesRowID:581
- Congo, Dem. Rep. (2015). Retrieved August 1, 2015, from http://data.worldbank.org/country/congo-dem-rep?display=graph
- The World Factbook: Democratic Republic of the Congo. (2015, July 30). Retrieved August 1, 2015, from https://www.cia.gov/library/publications/the-world-factbook/geos/cg.html