Sudan Economy Profile 2009

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)

$88.08 billion (2008 est.)
$82.7 billion (2007 est.)
$75.04 billion (2006 est.)
note: data are in 2008 US dollars

GDP (official exchange rate)

$57.91 billion (2008 est.)

GDP - real growth rate

6.5% (2008 est.)
10.2% (2007 est.)
11.3% (2006 est.)

GDP - per capita (PPP)

$2,200 (2008 est.)
$2,100 (2007 est.)
$1,900 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector

agriculture: 31%
industry: 34.7%
services: 34.3% (2008 est.)

Population below poverty line

40% (2004 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.)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Investment (gross fixed)

18.1% of GDP (2008 est.)

Budget

revenues: $11.55 billion
expenditures: $12.67 billion (2008 est.)

Public debt

93.5% of GDP (2008 est.)
79.7% of GDP (2004 est.)

Inflation rate (consumer prices)

16% (2008 est.)
8% (2007 est.)

Stock of money

$NA (31 December 2008)
$5.549 billion (31 December 2007)

Stock of quasi money

$NA (31 December 2008)
$4.068 billion (31 December 2007)

Stock of domestic credit

$NA (31 December 2008)
$8.659 billion (31 December 2007)

Industries

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

Industrial production growth rate

0.1% (2008 est.)

Electricity - production

4.037 billion kWh (2006 est.)

Electricity - production by source

fossil fuel: 52.1%
hydro: 47.9%
nuclear: 0%
other: 0% (2001)

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 - imports

7,558 bbl/day (2005)

Oil - exports

282,100 bbl/day (2005)

Oil - proved reserves

6.6 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.)

Current Account Balance

-$1.178 billion (2008 est.)
-$3.447 billion (2007 est.)

Agriculture - products

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

Exports

$12.15 billion (2008 est.)
$8.879 billion (2007 est.)

Exports - commodities

oil and petroleum products; cotton, sesame, livestock, groundnuts, gum arabic, sugar

Exports - partners

China 56.3%, Japan 30%, Indonesia 4.9% (2008)

Imports

$9.339 billion (2008 est.)
$7.722 billion (2007 est.)

Imports - commodities

foodstuffs, manufactured goods, refinery and transport equipment, medicines and chemicals, textiles, wheat

Imports - partners

China 24.9%, Saudi Arabia 8%, UAE 5.9%, India 5.8%, Egypt 5.3% (2008)

Reserves of foreign exchange and gold

$1.399 billion (31 December 2008 est.)
$1.378 billion (31 December 2007 est.)

Debt - external

$31.5 billion (31 December 2008 est.)
$29.42 billion (31 December 2007 est.)

Market value of publicly traded shares

$NA

Economic aid - recipient

$1.829 billion (2005)

Currency (code)

Sudanese pounds (SDG)

Currency (code)

SDD

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

calendar year