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The Economy of Sudan

Sudanese Economy

Sudan's map

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:

GDP - real growth rate: 5.5% (2008 est.) 10.2% (2007 est.) 11.3% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 32.9% industry: 31.2% services: 36% (2008 est.)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 7.415 million (1996 est.)

Labor force - by occupation: agriculture: 80% industry: 7% services: 13% (1998 est.)

Unemployment rate: 18.7% (2002 est.)

Budget: revenues: $11.84 billion expenditures: $12.95 billion (2008 est.)

Industries: oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly

Industrial production growth rate: -4% (2008 est.)

Electricity - production: 4.037 billion kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 3.398 billion kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 466,100 bbl/day (2007 est.)

Oil - consumption: 79,760 bbl/day (2006 est.)

Oil - exports: 282,100 bbl/day (2005)

Oil - imports: 7,558 bbl/day (2005)

Oil - proved reserves: 5 billion bbl (1 January 2008 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 84.95 billion cu m (1 January 2008 est.)

Agriculture - products: cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame; sheep, livestock

Exports: $13.62 billion f.o.b. (2008 est.)

Exports - commodities: oil and petroleum products; cotton, sesame, livestock, groundnuts, gum arabic, sugar

Exports - partners: China 82.1%, Japan 8.4%, UAE 2.5% (2007)

Imports: $7.757 billion f.o.b. (2008 est.)

Imports - commodities: foodstuffs, manufactured goods, refinery and transport equipment, medicines and chemicals, textiles, wheat

Imports - partners: China 27.9%, Saudi Arabia 7.5%, India 6.3%, Egypt 5.6%, UAE 5.5%, Japan 4.2% (2007)

Debt - external: $30.48 billion (31 December 2008 est.)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Sudanese pounds (SDG) per US dollar - 2.1 (2008 est.), 2.06 (2007), 2.172 (2006), 2.4361 (2005), 2.5791 (2004) note: in October 2007 Sudan redenominated its currency by transforming 100 units of Sudanese dinar into one unit of Sudanese pound

Fiscal year: