South Sudan Economy 2018


South Sudan Economy 2018

Page last updated on February 28, 2018

Economy - overview:
Following several decades of civil war with Sudan, industry and infrastructure in landlocked South Sudan are severely underdeveloped and poverty is widespread. Subsistence agriculture provides a living for the vast majority of the population. Property rights are insecure and price signals are weak, because markets are not well organized. After independence, South Sudan's central bank issued a new currency, the South Sudanese pound, allowing a short grace period for turning in the old currency.South Sudan has little infrastructure - approximately 200 kilometers of paved roads. Electricity is produced mostly by costly diesel generators, and indoor plumbing and potable water are scarce. South Sudan depends largely on imports of goods, services, and capital - mainly from Uganda, Kenya and Sudan.Nevertheless, South Sudan does have abundant natural resources. At independence in 2011, South Sudan produced nearly three-fourths of former Sudan's total oil output of nearly a half million barrels per day. The Government of South Sudan used to rely on oil for the vast majority of its budget revenues before oil production fell sharply. Oil is exported through a pipeline that runs to refineries and shipping facilities at Port Sudan on the Red Sea. The economy of South Sudan will remain linked to Sudan for some time, given the long lead time and great expense required to build another pipeline, should the government decide to do so. In January 2012, South Sudan suspended production of oil because of its dispute with Sudan over transshipment fees. This suspension lasted 15 months and had a devastating impact on GDP, which declined by 48% in 2012. With the resumption of oil flows the economy rebounded during the second half of calendar year 2013. GDP grew by nearly 30% for the year. This occurred in spite of the fact that oil production, at an average level of 222,000 barrels per day, was 40% lower compared with 2011, prior to the shutdown. However, the outbreak of conflict in December 2013 combined with a further reduction of oil production and exports, meant that GDP fell significantly from 2014 to 2017, and poverty and food insecurity rose. South Sudan holds one of the richest agricultural areas in Africa with fertile soils and abundant water supplies. Currently the region supports 10-20 million head of cattle.South Sudan is currently burdened by considerable debt because of increased military spending and revenue shortfalls due to low oil prices and decreased production. South Sudan has received more than $4 billion in foreign aid since 2005, largely from the UK, the US, Norway, and the Netherlands. Annual inflation peaked at over 800% in October 2016. The government has relied on borrowing from the central bank to fund budget expenses. The decision in December 2015 by the central bank to abandon a fixed exchange rate and allow the South Sudanese Pound to float has not reduced inflation in the short term. Long-term challenges include diversifying the formal economy, alleviating poverty, maintaining macroeconomic stability, improving tax collection and financial management and improving the business environment.

GDP (purchasing power parity):
$19.75 billion (2017 est.) $21.07 billion (2016 est.) $24.45 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 150

GDP (official exchange rate):
$2.915 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-6.3% (2017 est.) -13.8% (2016 est.) -0.2% (2015 est.)
country comparison to the world: 219
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,500 (2017 est.) $1,700 (2016 est.) $2,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 220

Gross national saving:
9.9% of GDP (2017 est.) 20% of GDP (2016 est.) 7.3% of GDP (2015 est.)
country comparison to the world: 160
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 34.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 10.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
exports of goods and services: 64.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -27.2% (2011 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

Agriculture - products:
sorghum, maize, rice, millet, wheat, gum arabic, sugarcane, mangoes, papayas, bananas, sweet potatoes, sunflower seeds, cotton, sesame seeds, cassava (manioc, tapioca), beans, peanuts; cattle, sheep

Population below poverty line:
50.6% (2009 est.)
[see also: Population below poverty line country ranks ]

Distribution of family income - Gini index:
46 (2010 est.)
country comparison to the world: 33
[see also: Distribution of family income - Gini index country ranks ]

revenues: $437 million
[see also: Budget - revenues country ranks ]
expenditures: $2.259 billion (FY2013 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
15% of GDP (FY2013 est.)
country comparison to the world: 188
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-62.5% of GDP (FY2013 est.)
country comparison to the world: 220
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
33% of GDP (2016 est.) 65.7% of GDP (2015 est.)
country comparison to the world: 152
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
182.2% (2017 est.) 379.8% (2016 est.)
country comparison to the world: 226
[see also: Inflation rate (consumer prices) country ranks ]

Stock of narrow money:
$1.873 billion (31 December 2013) $2.032 billion (31 December 2012)
country comparison to the world: 136
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.194 billion (31 December 2013 est.) $2.23 billion (31 December 2012 est.)
country comparison to the world: 153
[see also: Stock of broad money country ranks ]

Current account balance:
$49 million (2017 est.) $142 million (2016 est.)
country comparison to the world: 54
[see also: Current account balance country ranks ]

Exchange rates:
South Sudanese pounds (SSP) per US dollar - 0.906 (2017 est.) 0.9214 (2016 est.) 0.9214 (2015 est.) 0.885 (2014 est.) 0.7634 (2013 est.)

NOTE: 1) The information regarding South Sudan on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of South Sudan Economy 2018 information contained here. All suggestions for corrections of any errors about South Sudan Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order

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