Congo, "A Potential Electric Car Export Market"

 DR Congo has a great potential to become a leading Electric car producer. It has very rich mineral deposits. Some of the most exported minerals include copper, diamonds, lithium, tin, tantalum, goals, etc. Minerals contribute around 95% of the total Congo exports. Congo is the leading exporter of cobalt globally. 

Congo has rice cobalt reserves. It covers over 70% of the world’s total cobalt reserves. As per the Congo import export data, it exported around $96 million worth of cobalt during the fiscal year 2022. There was a significant increase in the exports of cobalt as compared to the previous year. Congo’s majority of the cobalt exports came from China, Taiwan, Russia, and Japan. 

China contributes to around 95% of the Congo's overall cobalt exports. As per Congo export data, China imported around $85 million worth of cobalt from Congo during FY 2022. Taiwan, Japan and Russia are some of the fastest growing markets for Congo's cobalt exports. 

Whereas, there was a decline in Congo's cobalt exports to Morocco, China and the United Arab Emirates. Whereas, the minimal amount of cobalt was imported from South Africa. The two most significant minerals used in Electric cars are cobalt and lithium. Congo has rich reserves of these two minerals that is why Congo holds the potential for Electric cars exports.

Congo has over 3.5 million tons of lithium reserves. Congo is focussing on extraction of more minerals through its mining. As the world is heading towards cleaner energy transportation, there is a great opportunity for Congo to excel its mineral exports. Global EV companies are extensively looking for more lithium and cobalt imports in order to make more batteries and enhance their EV production.

Congo had rich deposits of red metal. Copper is the top most exported item from Congo. During 2022, DR Congo produced over 2.5 million metric tons of copper. According to the Congo export data, there was an increase of 15% in the exports of copper during FY 2022 as compared to the last year. 

China is the leading copper importing country from Congo with over $11 billion worth of imports in FY 2022. China is then followed by the United Arab Emirates, South Korea, Italy and Saudi Arabia in terms of Congo’s copper exports. On the other hand, Congo import data shows that the country’s copper imports mostly come from China, South Africa, Zambia, India and Rwanda. 

Also, Congo is the most favourable destination for investors due to its rich mineral resources. The leading battery makers companies like LD Chem is setting its base in Congo. Congo mineral export companies can spot mineral demand, get ideas on product pricing, quantity, competitors, buyers and suppliers from the international market  through Exim GTIS.

It is the best market research platform through the leading global import export data provider company. It is quite cost-effective and helps you gain competitive market insights. Through its importer-exporter tree, you can generate quality business leads and boost your revenue. Also, you can find export opportunities in over 200+ markets through their business reports.