Economy of Sudan
Overview
Sudan has turned around a struggling economy with sound economic policies and infrastructure investments, but it still faces formidable economic problems, starting from its low level of per capita output. From 1997 to date, Sudan has been implementing IMF macroeconomic reforms. In 1999, Sudan began exporting crude oil and in the last quarter of 1999 recorded its first trade surplus, which, along with monetary policy, has stabilized the exchange rate. Increased oil production, revived light industry, and expanded export processing zones helped sustain GDP growth at 10% in 2006. Agricultural production remains Sudan's most important sector, employing 80% of the work force, contributing 35% of GDP, and accounting for most of GDP growth, but most farms remain rain-fed and susceptible to drought. Chronic instability - resulting from the long-standing civil war between the Muslim north and the Christian/pagan south, adverse weather, and weak world agricultural prices - ensure that much of the population will remain at or below the poverty line for years.
GDP
Real Growth Rate
10%
Per Capita
USD 2,300
From Agriculture
36%
From Industry
25%
From Services
40%
Labour Force
Available for Work
7
Working in Agriculture
80%
Working in Industry
7%
Working in Services
13%
Unemployment Rate
19%
Population Below Poverty Line
40%
Inflation Rate
9%
Investment as Percent of GDP
25%
Budget
Revenues
USD 7,943 (m)
Expenditures
USD 10,100 (m)
Public Debt
US$ 15198.00 (m)
Agricultural Products
Cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame; sheep, livestock.
Core Industries
Oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly.
Exports
Value
USD 7,505 (m)
Commodities
Oil and petroleum products; cotton, sesame, livestock, groundnuts, gum arabic, sugar.
Partners
China 71.1%, Japan 12%, Saudi Arabia 2.8% (2005).
Imports
Value
USD 8,693 (m)
Commodities
Foodstuffs, manufactured goods, refinery and transport equipment, medicines and chemicals, textiles, wheat.
Partners
China 20.7%, Saudi Arabia 9.4%, UAE 5.9%, Egypt 5.5%, Japan 5.1%, India 4.8% (2005).
External Debt
USD 29,690 (m)
Fiscal Year
Calendar year
