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Niger Economy 2010
https://workmall.com/wfb2010/niger/niger_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Niger Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 15, 2010

Economy - overview:
Niger is one of the poorest countries in the world, ranking near last on the United Nations Development Fund index of human development. It is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Drought cycles, desertification, and strong population growth have undercut the economy. Niger shares a common currency, the CFA franc, and a common central bank, the Central Bank of West African States (BCEAO), with seven other members of the West African Monetary Union. In December 2000, Niger qualified for enhanced debt relief under the International Monetary Fund program for Highly Indebted Poor Countries (HIPC) and concluded an agreement with the Fund on a Poverty Reduction and Growth Facility (PRGF). Debt relief provided under the enhanced HIPC initiative significantly reduces Niger's annual debt service obligations, freeing funds for expenditures on basic health care, primary education, HIV/AIDS prevention, rural infrastructure, and other programs geared at poverty reduction. In December 2005, Niger received 100% multilateral debt relief from the IMF, which translates into the forgiveness of approximately US $86 million in debts to the IMF, excluding the remaining assistance under HIPC. Nearly half of the government's budget is derived from foreign donor resources. Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Uranium prices have increased sharply in the last few years. A drought and locust infestation in 2005 led to food shortages for as many as 2.5 million Nigeriens.

GDP (purchasing power parity):
$10.75 billion (2009 est.)

$10.41 billion (2008 est.)
$9.51 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$5.323 billion (2009 est.)

GDP - real growth rate:
3.2% (2009 est.)

9.5% (2008 est.)
3.3% (2007 est.)

GDP - per capita (PPP):
$700 (2009 est.)

$700 (2008 est.)
$700 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 39%
industry: 17%
services: 44% (2001)

Labor force:
4.688 million (2007)

Labor force - by occupation:
agriculture: 90%
industry: 6%
services: 4% (1995)

Unemployment rate:
NA% est.)

Population below poverty line:
63% (1993 est.)

Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 35.7% (2005)

Distribution of family income - Gini index:
50.5 (1995)

Budget:
revenues: $320 million (includes $134 million from foreign sources)
expenditures: $320 million (2002 est.)

Inflation rate (consumer prices):
0.1% (2007 est.)

Central bank discount rate:
4.75% (31 December 2008)

4.25% (31 December 2007)

Commercial bank prime lending rate:
NA% (31 December 2008)

Stock of money:
$NA (31 December 2008)

$604.5 million (31 December 2007)

Stock of quasi money:
$NA (31 December 2008)

$193.7 million (31 December 2007)

Stock of domestic credit:
$NA (31 December 2008)

$318.9 million (31 December 2007)

Market value of publicly traded shares:
$NA

Agriculture - products:
cowpeas, cotton, peanuts, millet, sorghum, cassava (tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry

Industries:
uranium mining, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses

Industrial production growth rate:
5.1% (2003 est.)

Electricity - production:
150 million kWh (2007 est.)

Electricity - consumption:
589.5 million kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
450 million kWh (2007 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
6,000 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
5,367 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Current account balance:
$-321 million (2007 est.)

Exports:
$428 million (2006 est.)

Exports - commodities:
uranium ore, livestock, cowpeas, onions

Exports - partners:
Japan 80.4%, Nigeria 8.5%, France 2.9% (2008)

Imports:
$800 million (2006 est.)

Imports - commodities:
foodstuffs, machinery, vehicles and parts, petroleum, cereals

Imports - partners:
France 16.6%, China 10.9%, Algeria 9.6%, Nigeria 7.4%, French Polynesia 6.5%, Belgium 4.2%, Cote d'Ivoire 4.2% (2008)

Debt - external:
$2.1 billion (2003 est.)

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 481.35 (2009), 447.81 (2008), 493.51 (2007), 522.59 (2006), 527.47 (2005)
note: since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par


NOTE: The information regarding Niger on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2010 information contained here. All suggestions for corrections of any errors about Niger Economy 2010 should be addressed to the CIA.






This page was last modified 09-Feb-10
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