Niger Economy - 2024

Economic overview

low-income Sahel economy; major instability and humanitarian crises limit economic activity; COVID-19 eliminated recent antipoverty gains; economy rebounding since December 2020 Nigerian border reopening and new investments; uranium resource rich

Real GDP (purchasing power parity)

$29.964 billion (2021 est.)
$29.554 billion (2020 est.)
$28.541 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

1.39% (2021 est.)
3.55% (2020 est.)
5.94% (2019 est.)

Real GDP per capita

$1,200 (2021 est.)
$1,200 (2020 est.)
$1,200 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$12.926 billion (2019 est.)

Inflation rate (consumer prices)

3.84% (2021 est.)
2.9% (2020 est.)
-2.49% (2019 est.)

Credit ratings

Moody's rating: B3 (2019)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 41.6% (2017 est.)

industry: 19.5% (2017 est.)

services: 38.7% (2017 est.)

GDP - composition, by end use

household consumption: 70.2% (2017 est.)

government consumption: 9.4% (2017 est.)

investment in fixed capital: 38.6% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 16.4% (2017 est.)

imports of goods and services: -34.6% (2017 est.)

Agricultural products

millet, cow peas, sorghum, onions, milk, groundnuts, cassava, cabbages, goat milk, fruit

Industries

uranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses

Industrial production growth rate

4.09% (2021 est.)

Labor force

9.411 million (2021 est.)

Unemployment rate

0.75% (2021 est.)
0.62% (2020 est.)
0.55% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 1% (2021 est.)

male: 1.2%

female: 0.7%

Population below poverty line

40.8% (2018 est.)

Gini Index coefficient - distribution of family income

37.3 (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.2%

highest 10%: 26.8% (2014)

Remittances

3.79% of GDP (2020 est.)
2.39% of GDP (2019 est.)
2.32% of GDP (2018 est.)

Budget

revenues: $2.325 billion (2019 est.)

expenditures: $2.785 billion (2019 est.)

Budget surplus (+) or deficit (-)

-5% (of GDP) (2017 est.)

Public debt

45.3% of GDP (2017 est.)
45.2% of GDP (2016 est.)

Taxes and other revenues

21.4% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$1.816 billion (2020 est.)
-$1.572 billion (2019 est.)
-$1.625 billion (2018 est.)

Exports

$1.338 billion (2020 est.) note: data are in current year dollars
$1.387 billion (2019 est.) note: data are in current year dollars
$1.45 billion (2018 est.)

Exports - partners

United Arab Emirates 54%, China 25%, France 7%, Pakistan 5% (2019)

Exports - commodities

gold, sesame seeds, uranium, refined petroleum, onions (2021)

Imports

$3.542 billion (2020 est.) note: data are in current year dollars
$3.395 billion (2019 est.) note: data are in current year dollars
$3.369 billion (2018 est.)

Imports - partners

China 19%, France 9%, United Arab Emirates 7%, Cote d'Ivoire 6%, India 6%, Nigeria 5%, Togo 5%, Turkey 5% (2019)

Imports - commodities

rice, packaged medicines, palm oil, cars, cement (2019)

Reserves of foreign exchange and gold

$1.314 billion (31 December 2017 est.)
$1.186 billion (31 December 2016 est.)

Debt - external

$3.728 billion (31 December 2017 est.)
$2.926 billion (31 December 2016 est.)

Exchange rates

Communaute Financiere Africaine francs (XOF) per US dollar -

Exchange rates:
554.531 (2021 est.)
575.586 (2020 est.)
585.911 (2019 est.)
555.446 (2018 est.)
580.657 (2017 est.)