Congo in talks with Libya for oil & fuels imports

 In the past few years, Libya has shown signs of a rich amount of oils & fuels. Libya has some potential reserves of oils and minerals. The Congo government is currently in regular talk with Libya to exploit this opportunity. Congo is looking to assist Libya in crude oil extraction from Libya and do imports in order to meet domestic demand.

Congo and Libya are the most prominent importers of crude petroleum globally. In terms of mineral oils and fuels imports, Congo and Libya were respectively the 5th and 7th importers in the world. According to the global import export data, Libya has imported over $1.7 billion worth of mineral fuels and oils during FY 2022. The imports mostly came from Greece, Belgium, Netherlands, Cyprus and Italy. Whereas, Libya’s mineral fuels and oil exports were mostly to Spain, France, Italy, Ukraine and the Netherlands.

Mineral fuels and oils are the major imports of Congo. It is the most imported product by Congo. Congo customs data shows that around $415 million worth of mineral oils were imported in FY 2022. Congo's maximum mineral fuel oil imports were mostly from Angola which had over 45% share globally. Also, there were significant mineral oil imports from Rwanda, South Africa, United Arab Emirates, Kenya and Belgium.

Congo import export data shows that the key imports made by Congo from Libya were mostly iron wires, air pumps, iron pipes, copper pipes, plastic pipes, aqueous paints, heating machinery, iron pipe fittings, valves, wool. During FY 2022, Congo has imported over $20 thousand worth of iron wires having over 16% share in Libya exports to Congo. Whereas, Iron pipes exports were over $18 thousand in the last fiscal year. 

Copper was the third largest import by Congo from Libya with over 9.5% share. As per Congo import data, the country's copper pipes imports totaled to be $11 thousand in the last year. Also, there were some noticeable amounts of imports of vacuum cleaners, glass mirrors, valves, asphalt, plastics, waterproof footwears by Congo from Libya.

On the other hand, Congo’s crucial exports to Libya were mostly liquid pumps. Apart from Congo exports to Libya, its other major exports include cobalt which has shown 6% growth this year. Whereas, other major exports include copper ore, refined copper, petroleum oil, tin, diamonds, wood, and ferroalloys.

As both countries are working together to ensure better trade relations, companies can utilize this opportunity to excel their sales. Through the expert intelligence provided through trade data reports, businesses can achieve their long term goals and contribute towards the country's economic growth. Exim Trade Data is one such global import export data provider offering insights into the international market.         

They have the leading database of over 200+ countries through which you could discover country wise imports, exports, price, unit, quantity, country, buyer, supplier, ports volume details. This will help Congo and Libya business owners to create an effective marketing strategy and get ahead of the competition.

This platform helps companies find relative buyers and suppliers for their products. It gives you access to track the shipment records of millions of importers and exporters. It could increase your sales globally.