Sudan Economy - 2022

GEOGRAPHICAL NAMES 

Economic overview

Sudan has experienced protracted social conflict and the loss of three quarters of its oil production due to the secession of South Sudan. The oil sector had driven much of Sudan's GDP growth since 1999. For nearly a decade, the economy boomed on the back of rising oil production, high oil prices, and significant inflows of foreign direct investment. Since the economic shock of South Sudan's secession, Sudan has struggled to stabilize its economy and make up for the loss of foreign exchange earnings. The interruption of oil production in South Sudan in 2012 for over a year and the consequent loss of oil transit fees further exacerbated the fragile state of Sudan’s economy. Ongoing conflicts in Southern Kordofan, Darfur, and the Blue Nile states, lack of basic infrastructure in large areas, and reliance by much of the population on subsistence agriculture, keep close to half of the population at or below the poverty line.

Sudan was subject to comprehensive US sanctions, which were lifted in October 2017. Sudan is attempting to develop non-oil sources of revenues, such as gold mining and agriculture, while carrying out an austerity program to reduce expenditures. The world’s largest exporter of gum Arabic, Sudan produces 75-80% of the world’s total output. Agriculture continues to employ 80% of the work force.

Sudan introduced a new currency, still called the Sudanese pound, following South Sudan's secession, but the value of the currency has fallen since its introduction. Khartoum formally devalued the currency in June 2012, when it passed austerity measures that included gradually repealing fuel subsidies. Sudan also faces high inflation, which reached 47% on an annual basis in November 2012 but fell to about 35% per year in 2017.

(2017)

Real GDP (purchasing power parity)

$176.4 billion (2020 est.)

$179.2 billion (2019 est.)

$181.61 billion (2018 est.)

note: data are in 2017 dollars

Real GDP growth rate

1.4% (2017 est.)

3% (2016 est.)

1.3% (2015 est.)

Real GDP per capita

$4,000 (2020 est.)

$4,200 (2019 est.)

$4,300 (2018 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$24.918 billion (2019 est.)

Inflation rate (consumer prices)

50.2% (2019 est.)

62.8% (2018 est.)

32.5% (2017 est.)

GDP - composition, by sector of origin

agriculture: 39.6% (2017 est.)

industry: 2.6% (2017 est.)

services: 57.8% (2017 est.)

GDP - composition, by end use

household consumption: 77.3% (2017 est.)

government consumption: 5.8% (2017 est.)

investment in fixed capital: 18.4% (2017 est.)

investment in inventories: 0.6% (2017 est.)

exports of goods and services: 9.7% (2017 est.)

imports of goods and services: -11.8% (2017 est.)

Agricultural products

sugar cane, sorghum, milk, groundnuts, onions, sesame seed, goat milk, millet, bananas, wheat

Industries

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

Industrial production growth rate

4.5% (2017 est.)

Labor force

11.92 million (2007 est.)

Labor force - by occupation

agriculture: 80%

industry: 7%

services: 13% (1998 est.)

Unemployment rate

19.6% (2017 est.)

20.6% (2016 est.)

Youth unemployment rate (ages 15-24)

total: 32.6%

male: 27.4%

female: 43.5% (2011 est.)

Population below poverty line

46.5% (2009 est.)

Gini Index coefficient - distribution of family income

34.2 (2014 est.)

Household income or consumption by percentage share

lowest 10%: 2.7%

highest 10%: 26.7% (2009 est.)

Budget

revenues: 8.48 billion (2017 est.)

expenditures: 13.36 billion (2017 est.)

Budget surplus (+) or deficit (-)

-10.6% (of GDP) (2017 est.)

Public debt

121.6% of GDP (2017 est.)

99.5% of GDP (2016 est.)

Taxes and other revenues

18.5% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$4.811 billion (2017 est.)

-$4.213 billion (2016 est.)

Exports

$5.11 billion (2019 est.) note: data are in current year dollars

$5 billion (2018 est.) note: data are in current year dollars

Exports - partners

United Arab Emirates 31%, China 19%, Saudi Arabia 14%, India 12%, Egypt 5% (2019)

Exports - commodities

gold, crude petroleum, sesame seeds, sheep, goats, cotton, ground nuts (2019)

Imports

$9.79 billion (2019 est.) note: data are in current year dollars

$8.24 billion (2018 est.) note: data are in current year dollars

Imports - partners

China 31%, India 14%, United Arab Emirates 11%, Egypt 6% (2019)

Imports - commodities

raw sugar, wheat, packaged medicines, jewelry, tires, cars and vehicle parts (2019)

Reserves of foreign exchange and gold

$198 million (31 December 2017 est.)

$168.3 million (31 December 2016 est.)

Debt - external

$56.05 billion (31 December 2017 est.)

$51.26 billion (31 December 2016 est.)

Exchange rates

Sudanese pounds (SDG) per US dollar -

6.72 (2017 est.)

6.14 (2016 est.)

6.14 (2015 est.)

6.03 (2014 est.)

5.74 (2013 est.)

NOTE: The information regarding Sudan on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Sudan 2022 information contained here. All suggestions for corrections of any errors about Sudan 2022 should be addressed to the CIA or the source cited on each page.