Flag of Niger

Niger Economy Profile

Home > Factbook > Countries > Niger

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. Agriculture contributes approximately 40% of GDP and provides livelihood for over 80% of the population. The UN ranked Niger as the second least developed country in the world in 2016 due to multiple factors such as food insecurity, lack of industry, high population growth, a weak educational sector, and few prospects for work outside of subsistence farming and herding.

Since 2011 public debt has increased due to efforts to scale-up public investment, particularly that related to infrastructure, as well as due to increased security spending. The government relies on foreign donor resources for a large portion of its fiscal budget. The economy in recent years has been hurt by terrorist activity near its uranium mines and by instability in Mali and in the Diffa region of the country; concerns about security have resulted in increased support from regional and international partners on defense. Low uranium prices, demographics, and security expenditures may continue to put pressure on the government’s finances.

The Government of Niger plans to exploit oil, gold, coal, and other mineral resources to sustain future growth. Although Niger has sizable reserves of oil, the prolonged drop in oil prices has reduced profitability. Food insecurity and drought remain perennial problems for Niger, and the government plans to invest more in irrigation. Niger’s three-year $131 million IMF Extended Credit Facility (ECF) agreement for the years 2012-15 was extended until the end of 2016. In February 2017, the IMF approved a new 3-year $134 million ECF. In June 2017, The World Bank’s International Development Association (IDA) granted Niger $1 billion over three years for IDA18, a program to boost the country’s development and alleviate poverty. A $437 million Millennium Challenge Account compact for Niger, commencing in FY18, will focus on large-scale irrigation infrastructure development and community-based, climate-resilient agriculture, while promoting sustainable increases in agricultural productivity and sales.

Formal private sector investment needed for economic diversification and growth remains a challenge, given the country’s limited domestic markets, access to credit, and competitiveness. Although President ISSOUFOU is courting foreign investors, including those from the US, as of April 2017, there were no US firms operating in Niger. In November 2017, the National Assembly passed the 2018 Finance Law that was geared towards raising government revenues and moving away from international support.

GDP (purchasing power parity)
$21.86 billion (2017 est.)
$20.84 billion (2016 est.)
$19.87 billion (2015 est.)

note: data are in 2017 dollars

GDP (official exchange rate)
$8.224 billion (2017 est.)
GDP - real growth rate
4.9% (2017 est.)
4.9% (2016 est.)
4.3% (2015 est.)
GDP - per capita (PPP)
$1,200 (2017 est.)
$1,100 (2016 est.)
$1,100 (2015 est.)

note: data are in 2017 dollars

Gross national saving
22.4% of GDP (2017 est.)
20.6% of GDP (2016 est.)
21.2% of GDP (2015 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.)
GDP - composition by sector
agriculture: 41.6% (2017 est.)
industry: 19.5% (2017 est.)
services: 38.7% (2017 est.)
Population below poverty line
45.4% (2014 est.)
Labor force
6.5 million (2017 est.)
Labor force - by occupation
agriculture: 79.2%
industry: 3.3%
services: 17.5% (2012 est.)
Unemployment rate
0.3% (2017 est.)
0.3% (2016 est.)
Unemployment, youth ages 15-24
total: 0.7%
male: 0.9%
female: 0.4% (2014 est.)
Household income or consumption by percentage share
lowest 10%: 3.2%
highest 10%: 26.8% (2014)
Distribution of family income - Gini index
34 (2014)
50.5 (1995)
Budget
revenues: 1.757 billion (2017 est.)
expenditures: 2.171 billion (2017 est.)
Taxes and other revenues
21.4% (of GDP) (2017 est.)
Budget surplus (+) or deficit (-)
-5% (of GDP) (2017 est.)
Public debt
45.3% of GDP (2017 est.)
45.2% of GDP (2016 est.)
Inflation rate (consumer prices)
2.4% (2017 est.)
0.2% (2016 est.)
Central bank discount rate
4.25% (31 December 2015)
4.25% (31 December 2014)
Commercial bank prime lending rate
5.4% (31 December 2017 est.)
5.3% (31 December 2016 est.)
Stock of narrow money
$1.804 billion (31 December 2017 est.)
$1.511 billion (31 December 2016 est.)
Stock of broad money
$1.804 billion (31 December 2017 est.)
$1.511 billion (31 December 2016 est.)
Stock of domestic credit
$1.506 billion (31 December 2017 est.)
$1.196 billion (31 December 2016 est.)
Market value of publicly traded shares

NA

Agriculture - products
cowpeas, cotton, peanuts, millet, sorghum, cassava (manioc, tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry
Industries
uranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses
Industrial production growth rate
6% (2017 est.)
Current Account Balance
-$1.16 billion (2017 est.)
-$1.181 billion (2016 est.)
Exports
$4.143 billion (2017 est.)
$1.101 billion (2016 est.)
Exports - commodities
uranium ore, livestock, cowpeas, onions
Exports - partners
France 30.2%, Thailand 18.3%, Malaysia 9.9%, Nigeria 8.3%, Mali 5%, Switzerland 4.9% (2017)
Imports
$1.829 billion (2017 est.)
$1.715 billion (2016 est.)
Imports - commodities
foodstuffs, machinery, vehicles and parts, petroleum, cereals
Imports - partners
France 28.8%, China 14.4%, Malaysia 5.7%, Nigeria 5.4%, Thailand 5.3%, US 5.1%, India 4.9% (2017)
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 -
605.3 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)
Fiscal year
calendar year

Source: CIA World Factbook
This page was last updated on Friday, November 27, 2020

Economy Comparison