Economy - overview:
Until the second half of 2008, Sudan's economy boomed on the back of increases in oil production, high oil prices, and large inflows of foreign direct investment. GDP growth registered more than 10% per year in 2006 and 2007. From 1997 to date, Sudan has been working with the IMF to implement macroeconomic reforms, including a managed float of the exchange rate. Sudan began exporting crude oil in the last quarter of 1999. Agricultural production remains important, because it employs 80% of the work force and contributes a third of GDP. The Darfur conflict, the aftermath of two decades of civil war in the south, the lack of basic infrastructure in large areas, and a reliance by much of the population on subsistence agriculture ensure much of the population will remain at or below the poverty line for years despite rapid rises in average per capita income. In January 2007, the government introduced a new currency, the Sudanese Pound, at an initial exchange rate of $1.00 equals 2 Sudanese Pounds.
GDP (purchasing power parity):
$92.83 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$54.29 billion (2009 est.)
GDP - real growth rate:
3.8% (2009 est.)
GDP - per capita (PPP):
$2,300 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 32.6%
industry:
29.2%
services:
38.2% (2009 est.)
Labor force:
11.92 million (2007 est.)
Labor force - by occupation:
agriculture: 80%
industry:
7%
services:
13% (1998 est.)
Unemployment rate:
18.7% (2002 est.)
Population below poverty line:
40% (2004 est.)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%:
NA%
Investment (gross fixed):
20.6% of GDP (2009 est.)
Budget:
revenues: $9.046 billion
expenditures:
$10.83 billion (2009 est.)
Public debt:
104.5% of GDP (2009 est.)
Inflation rate (consumer prices):
12.3% (2009 est.)
Stock of money:
$NA (31 December 2008)
Stock of quasi money:
$NA (31 December 2008)
Stock of domestic credit:
$NA (31 December 2008)
Market value of publicly traded shares:
$NA
Agriculture - products:
cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame; sheep, livestock
Industries:
oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly
Industrial production growth rate:
2.1% (2009 est.)
Electricity - production:
4.341 billion kWh (2007 est.)
Electricity - consumption:
3.438 billion kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
480,200 bbl/day (2008 est.)
Oil - consumption:
86,000 bbl/day (2008 est.)
Oil - exports:
303,800 bbl/day (2007 est.)
Oil - imports:
11,400 bbl/day (2007 est.)
Oil - proved reserves:
5 billion bbl (1 January 2009 est.)
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:
84.95 billion cu m (1 January 2009 est.)
Current account balance:
$-2.739 billion (2009 est.)
Exports:
$8.464 billion (2009 est.)
Exports - commodities:
oil and petroleum products; cotton, sesame, livestock, groundnuts, gum arabic, sugar
Exports - partners:
China 49.8%, Japan 33.4%, Indonesia 5.5% (2008)
Imports:
$6.823 billion (2009 est.)
Imports - commodities:
foodstuffs, manufactured goods, refinery and transport equipment, medicines and chemicals, textiles, wheat
Imports - partners:
China 20%, Saudi Arabia 8.4%, UAE 6.2%, India 6.1%, Egypt 5.5%, Italy 4.1% (2008)
Reserves of foreign exchange and gold:
$769 million (31 December 2009 est.)
Debt - external:
$36.27 billion (31 December 2009 est.)
Exchange rates:
Sudanese pounds (SDG) per US dollar - 2.34 (2009), 2.1 (2008), 2.06 (2007), 2.172 (2006), 2.4361 (2005)
note:
in January 2007 Sudan redenominated its currency by transforming 100 units of Sudanese dinar into one unit of Sudanese pound
NOTE: The information regarding Sudan 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 Sudan Economy 2010 information contained here. All suggestions for corrections of any errors about Sudan Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10