Economy of Sudan

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Economy - overview: Sudan is buffeted by civil war, chronic instability, adverse weather, weak world agricultural prices, a drop in remittances from abroad, and counterproductive economic policies. The private sector's main areas of activity are agriculture (which employs 80% of the work force), trading, and light industry which is mostly processing of agricultural goods. Most of the 1990s were characterized by sluggish economic growth as the IMF suspended lending, declared Sudan a non-cooperative state, and threatened to expel Sudan from the IMF. Starting in 1997, Sudan began implementing IMF macroeconomic reforms which have successfully stabilized inflation at 10% or less. Sudan continues to have limited international credit resources as over 75% of Sudan's debt of $24.9 billion is in arrears and Khartoum's continued prosecution of the civil war works to isolate Sudan. In 1999, Sudan began exporting oil and in 1999-2000 had recorded its first trade surpluses. Current oil production stands at 185,000 barrels per day, of which about 70% is exported and the rest refined for domestic consumption. Despite its many infrastructure problems, Sudan's increased oil production, the return of regular rainfall, and recent investments in irrigation schemes should allow the country to achieve economic growth of 6% in 2001.

GDP: purchasing power parity - $35.7 billion (2000 est.)
GDP - real growth rate: 3% (1999 est.), 7% (2000 est.)
GDP - per capita: purchasing power parity - $1,000 (2000 est.)
GDP - composition by sector:
agriculture: 41%
industry: 17%
services: 42% (1997 est.)
Inflation rate (consumer prices): 20% (1999 est.)
Labor force: 11 million (1996 est.)
note: labor shortages for almost all categories of skilled employment (1983 est.)
Labor force - by occupation: agriculture 80%, industry and commerce 10%, government 6%, unemployed 4%
Unemployment rate: 30% (FY92/93 est.)
Budget:
revenues: $1.2 billion
expenditures: $1.3 billion
Industries: cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining
Industrial production growth rate: 5% (1996 est.)
Electricity - production: 1.815 billion kWh (1998)
Electricity - production by source:
fossil fuel: 44.9%
hydro: 55.1%
nuclear: 0%
other: 0% (1998)
Electricity - consumption: 1.688 billion kWh (1998)
Agriculture - products: cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sesame; sheep
Exports: $580 million (f.o.b., 1999 est.)
Exports - commodities: cotton, sesame, livestock, groundnuts, oil, gum arabic
Exports - partners: Saudi Arabia 24%, Italy 10%, Germany 5%, Egypt 5%, France 3%, Japan 3%, China 1% (1998)
Imports: $1.4 billion (c.i.f., 1999 est.)
Imports - commodities: foodstuffs, petroleum products, manufactured goods, machinery and transport equipment, medicines and chemicals, textiles
Imports - partners: China 27%, France 14%, United Kingdom 10%, Germany 7%, Japan 4%, Netherlands 3%, Canada 1% (1998)
Debt - external: $24 billion (1999 est.)
Economic aid - recipient: $187 million (1997)
Currency: Sudanese dinar (SDD); note - in July 1999 the Sudanese Central Bank made the formal declaration that all dealings with the Sudanese pound should stop.

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Sudan > Map Economy History