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Sudan vs. Central African Republic

Economy

SudanCentral African Republic
Economy - 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)

Subsistence agriculture, together with forestry and mining, remains the backbone of the economy of the Central African Republic (CAR), with about 60% of the population living in outlying areas. The agricultural sector generates more than half of estimated GDP, although statistics are unreliable in the conflict-prone country. Timber and diamonds account for most export earnings, followed by cotton. Important constraints to economic development include the CAR's landlocked geography, poor transportation system, largely unskilled work force, and legacy of misdirected macroeconomic policies. Factional fighting between the government and its opponents remains a drag on economic revitalization. Distribution of income is highly unequal and grants from the international community can only partially meet humanitarian needs. CAR shares a common currency with the Central African Monetary Union. The currency is pegged to the Euro.

Since 2009, the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the 2011 election worsened CAR's fiscal situation. In 2012, the World Bank approved $125 million in funding for transport infrastructure and regional trade, focused on the route between CAR's capital and the port of Douala in Cameroon. In July 2016, the IMF approved a three-year extended credit facility valued at $116 million; in mid-2017, the IMF completed a review of CAR's fiscal performance and broadly approved of the government's management, although issues with revenue collection, weak government capacity, and transparency remain. The World Bank in late 2016 approved a $20 million grant to restore basic fiscal management, improve transparency, and assist with economic recovery.

Participation in the Kimberley Process, a commitment to remove conflict diamonds from the global supply chain, led to a partially lifted the ban on diamond exports from CAR in 2015, but persistent insecurity is likely to constrain real GDP growth.

GDP (purchasing power parity)$168.28 billion (2019 est.)

$172.601 billion (2018 est.)

$176.646 billion (2017 est.)

note: data are in 2010 dollars
$4.483 billion (2019 est.)

$4.354 billion (2018 est.)

$4.195 billion (2017 est.)

note: data are in 2017 dollars
GDP - real growth rate1.4% (2017 est.)

3% (2016 est.)

1.3% (2015 est.)
4.3% (2017 est.)

4.5% (2016 est.)

4.8% (2015 est.)
GDP - per capita (PPP)$3,958 (2019 est.)

$4,161 (2018 est.)

$4,363 (2017 est.)

note: data are in 2010 dollars
$945 (2019 est.)

$933 (2018 est.)

$913 (2017 est.)

note: data are in 2017 dollars
GDP - composition by sectoragriculture: 39.6% (2017 est.)

industry: 2.6% (2017 est.)

services: 57.8% (2017 est.)
agriculture: 43.2% (2017 est.)

industry: 16% (2017 est.)

services: 40.8% (2017 est.)
Population below poverty line46.5% (2009 est.)62% NA (2008 est.)
Household income or consumption by percentage sharelowest 10%: 2.7%

highest 10%: 26.7% (2009 est.)
lowest 10%: 2.1%

highest 10%: 33% (2003)
Inflation rate (consumer prices)50.2% (2019 est.)

62.8% (2018 est.)

32.5% (2017 est.)
2.7% (2019 est.)

1.6% (2018 est.)

4.2% (2017 est.)
Labor force11.92 million (2007 est.)2.242 million (2017 est.)
Unemployment rate19.6% (2017 est.)

20.6% (2016 est.)
6.9% (2017 est.)
Distribution of family income - Gini index34.2 (2014 est.)43.6 (2003 est.)

61.3 (1993)
Budgetrevenues: 8.48 billion (2017 est.)

expenditures: 13.36 billion (2017 est.)
revenues: 282.9 million (2017 est.)

expenditures: 300.1 million (2017 est.)
Industriesoil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly, millinggold and diamond mining, logging, brewing, sugar refining
Industrial production growth rate4.5% (2017 est.)3.9% (2017 est.)
Agriculture - productssugar cane, sorghum, milk, groundnuts, onions, sesame seed, goat milk, millet, bananas, wheatcassava, yams, groundnuts, taro, bananas, sugar cane, beef, maize, plantains, milk
Exports$4.1 billion (2017 est.)

$3.094 billion (2016 est.)
$113.7 million (2017 est.)

$101.5 million (2016 est.)
Exports - commoditiesgold, crude petroleum, sesame seeds, sheep, goats, cotton, ground nuts (2019)lumber, gold, diamonds, sea vessels, cocoa paste (2019)
Exports - partnersUnited Arab Emirates 31%, China 19%, Saudi Arabia 14%, India 12%, Egypt 5% (2019)China 41%, United Arab Emirates 19%, France 7% (2019)
Imports$8.22 billion (2017 est.)

$7.48 billion (2016 est.)
$393.1 million (2017 est.)

$342.2 million (2016 est.)
Imports - commoditiesraw sugar, wheat, packaged medicines, jewelry, tires, cars and vehicle parts (2019)refined petroleum, packaged medicines, natural gas, broadcasting equipment, second-hand clothing (2019)
Imports - partnersChina 31%, India 14%, United Arab Emirates 11%, Egypt 6% (2019)India 18%, France 12%, United States 11%, China 9%, Netherlands 7%, Belgium 7%, Malta 6% (2019)
Debt - external$56.05 billion (31 December 2017 est.)

$51.26 billion (31 December 2016 est.)
$779.9 million (31 December 2017 est.)

$691.5 million (31 December 2016 est.)
Exchange ratesSudanese 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.)
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -

605.3 (2017 est.)

593.01 (2016 est.)

593.01 (2015 est.)

591.45 (2014 est.)

494.42 (2013 est.)
Fiscal yearcalendar yearcalendar year
Public debt121.6% of GDP (2017 est.)

99.5% of GDP (2016 est.)
52.9% of GDP (2017 est.)

56% of GDP (2016 est.)
Reserves of foreign exchange and gold$198 million (31 December 2017 est.)

$168.3 million (31 December 2016 est.)
$304.3 million (31 December 2017 est.)

$252.5 million (31 December 2016 est.)
Current Account Balance-$4.811 billion (2017 est.)

-$4.213 billion (2016 est.)
-$163 million (2017 est.)

-$97 million (2016 est.)
GDP (official exchange rate)$24.918 billion (2019 est.)$1.937 billion (2017 est.)
Ease of Doing Business Index scoresOverall score: 44.8 (2020)

Starting a Business score: 76.7 (2020)

Trading score: 19 (2020)

Enforcement score: 47.8 (2020)
Overall score: 35.6 (2020)

Starting a Business score: 63.2 (2020)

Trading score: 52.4 (2020)

Enforcement score: 31.4 (2020)
Taxes and other revenues18.5% (of GDP) (2017 est.)14.6% (of GDP) (2017 est.)
Budget surplus (+) or deficit (-)-10.6% (of GDP) (2017 est.)-0.9% (of GDP) (2017 est.)
GDP - composition, by end usehousehold 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.)
household consumption: 95.3% (2017 est.)

government consumption: 8.5% (2017 est.)

investment in fixed capital: 13.7% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 12% (2017 est.)

imports of goods and services: -29.5% (2017 est.)
Gross national saving43.7% of GDP (2018 est.)

29.3% of GDP (2017 est.)

12.2% of GDP (2015 est.)
5.4% of GDP (2017 est.)

8.2% of GDP (2016 est.)

4.2% of GDP (2015 est.)

Source: CIA Factbook