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. 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 reduces 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 translates into the forgiveness of approximately US $86 million in debts to the IMF, excluding the remaining assistance under HIPC. In 2010, the Niger economy was recovering from the effects of a 2009 drought that reduced grain and cowpea production and decimated livestock herds. The economy was also 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.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Niger on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2011 information contained here. All suggestions for corrections of any errors about Niger Economy 2011 should be addressed to the CIA.
$10.58 billion (2010 est.)
country comparison to the world: 148
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$5.603 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
3.5% (2010 est.)
country comparison to the world: 101
[see also: GDP - real growth rate country ranks ]
$700 (2010 est.)
country comparison to the world: 225
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 39%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
17%
[see also: GDP - composition by sector - industry country ranks ]
services:
44% (2001)
[see also: GDP - composition by sector - services country ranks ]
4.688 million (2007)
country comparison to the world: 77
[see also: Labor force country ranks ]
agriculture: 90%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
6%
[see also: Labor force - by occupation - industry country ranks ]
services:
4% (1995)
[see also: Labor force - by occupation - services country ranks ]
NA%
[see also: Unemployment rate country ranks ]
63% (1993 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
35.7% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
50.5 (1995)
country comparison to the world: 21
[see also: Distribution of family income - Gini index country ranks ]
revenues: $320 million (includes $134 million from foreign sources)
[see also: Budget - revenues country ranks ]
expenditures:
$320 million (2002 est.)
[see also: Budget - expenditures country ranks ]
0.1% (2007 est.)
country comparison to the world: 10
[see also: Inflation rate (consumer prices) country ranks ]
4.25% (31 December 2009)
country comparison to the world: 96
[see also: Central bank discount rate country ranks ]
NA% (31 December 2009 est.)
[see also: Commercial bank prime lending rate country ranks ]
$782.6 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$1.038 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]
$683.6 million (31 December 2009)
country comparison to the world: 159
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
cowpeas, cotton, peanuts, millet, sorghum, cassava (tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry
uranium mining, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses
5.1% (2003 est.)
country comparison to the world: 62
[see also: Industrial production growth rate country ranks ]
150 million kWh (2007 est.)
country comparison to the world: 182
[see also: Electricity - production country ranks ]
589.5 million kWh (2007 est.)
country comparison to the world: 158
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
450 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 151
[see also: Oil - production country ranks ]
6,000 bbl/day (2009 est.)
country comparison to the world: 163
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 159
[see also: Oil - exports country ranks ]
5,367 bbl/day (2007 est.)
country comparison to the world: 156
[see also: Oil - imports country ranks ]
0 bbl
country comparison to the world: 148
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 154
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 128
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 148
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 109
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 114
[see also: Natural gas - proved reserves country ranks ]
-$321 million (2007 est.)
country comparison to the world: 99
[see also: Current account balance country ranks ]
$428 million (2006)
country comparison to the world: 171
[see also: Exports country ranks ]
uranium ore, livestock, cowpeas, onions
France 52.63%, Nigeria 22.43%, US 18.24% (2009)
$800 million (2006)
country comparison to the world: 178
[see also: Imports country ranks ]
foodstuffs, machinery, vehicles and parts, petroleum, cereals
China 16.32%, France 15.95%, Netherlands 7.66%, Algeria 7.15%, French Polynesia 6.11%, Nigeria 5.48%, Cote d'Ivoire 4.15%, US 4.05% (2009)
$2.1 billion (2003 est.)
country comparison to the world: 139
[see also: Debt - external country ranks ]
Communaute Financiere Africaine francs (XOF) per US dollar - 506.04 (2009), 447.81 (2008), 493.51 (2007), 522.59 (2006)
note:
since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par
This page was last modified 09-Feb-11