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Niger Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Niger Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 30, 2014

Economy - overview:
Niger is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes about 40% of GDP and provides livelihood for about 90% of the population. Niger also has sizable reserves of oil, and oil production, refining, and exports are expected to grow significantly between 2011 and 2016. Drought, 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 reduced 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 translated into the forgiveness of approximately US$86 million in debts to the IMF, excluding the remaining assistance under HIPC. The economy was hurt when the international community cut off non-humanitarian aid in response to TANDJA's moves to extend his term as president. 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. The government, however, has made efforts to secure a new three-year extended credit facility with the IMF following the one that completed in 2011. Oil revenue to the government has fallen well short of its budgeted level. Strikes risk undermining political stability. Food security remains a problem in Niger and is exacerbated by refugees from Mali.

GDP (purchasing power parity):
$12.99 billion (2012 est.)
country comparison to the world: 146

$11.68 billion (2011 est.)
$11.43 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$6.486 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
11.2% (2012 est.)
country comparison to the world: 6

2.2% (2011 est.)
10.7% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$800 (2012 est.)
country comparison to the world: 221

$700 (2011 est.)
$800 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
22% of GDP (2012 est.)
country comparison to the world: 62

25.3% of GDP (2011 est.)
21.5% of GDP (2010 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 64.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.5%
investment in fixed capital: 45.8%
investment in inventories: 0%
exports of goods and services: 28.3%
imports of goods and services: -64.6%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 35.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 14.2%
services: 50% (2012 est.)

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

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

Industrial production growth rate:
12.6% (2012 est.)
country comparison to the world: 8
[see also: Industrial production growth rate country ranks ]

Labor force:
4.688 million (2007)
country comparison to the world: 84
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 90%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 6%
services: 4% (1995)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
63% (1993 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.5% (2007)

Distribution of family income - Gini index:
34 (2007)
country comparison to the world: 93

50.5 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.698 billion (2012 est.)
[see also: Budget revenues country ranks ]
expenditures: $1.871 billion (2012 est.)

Taxes and other revenues:
26.2% of GDP (2012 est.)
country comparison to the world: 119
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.7% of GDP (2012 est.)
country comparison to the world: 107
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.5% (2012 est.)
country comparison to the world: 8

2.9% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 74

4.75% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4% (31 December 2012 est.)
country comparison to the world: 165

4.3% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.284 billion (31 December 2012 est.)
country comparison to the world: 143

$939.7 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.201 billion (31 December 2011 est.)
country comparison to the world: 163

$1.171 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$915 million (31 December 2012 est.)
country comparison to the world: 155

$825.3 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-1.453 billion (2012 est.)
country comparison to the world: 127

$-1.56 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$1.458 billion (2012 est.)
country comparison to the world: 146

$1.274 billion (2011 est.)
[see also: Exports country ranks ]

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

Exports - partners:
Nigeria 40.3%, US 17.2%, India 14.3%, Italy 8.6%, China 7.8%, Ghana 5.3% (2012)

Imports:
$2.273 billion (2012 est.)
country comparison to the world: 158

$2.23 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
France 14.4%, China 11.3%, Nigeria 10.1%, French Polynesia 9.2%, Togo 5.1%, Cote dIvoire 4.5% (2012)

Debt - external:
$1.551 billion (31 December 2012 est.)
country comparison to the world: 148

$1.408 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar -

510.53 (2012 est.)
471.87 (2011 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)


NOTE: 1) The information regarding Niger on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2014 information contained here. All suggestions for corrections of any errors about Niger Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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