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Sudan Economy Profile 2018

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Economy - overviewSudan has experienced protracted social conflict, civil war, and, in July 2011, 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.
GDP (purchasing power parity)$186.8 billion (2017 est.)
$180.1 billion (2016 est.)
$174.7 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$119 billion (2016 est.)
GDP - real growth rate3.7% (2017 est.)
3.1% (2016 est.)
4.9% (2015 est.)
GDP - per capita (PPP)$4,600 (2017 est.)
$4,500 (2016 est.)
$4,500 (2015 est.)
note: data are in 2017 dollars
Gross national saving12.1% of GDP (2017 est.)
11.5% of GDP (2016 est.)
9.1% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 77.3%
government consumption: 6.1%
investment in fixed capital: 18.5%
investment in inventories: 0.9%
exports of goods and services: 8.9%
imports of goods and services: -11.7% (2017 est.)
GDP - composition by sectoragriculture: 39.6%
industry: 2.6%
services: 57.8% (2017 est.)
Population below poverty line46.5% (2009 est.)
Labor force11.92 million (2007 est.)
Labor force - by occupationagriculture: 80%
industry: 7%
services: 13% (1998 est.)
Unemployment rate19.6% (2017 est.)
20.6% (2016 est.)
Unemployment, youth ages 15-24total: 20%
male: 16%
female: 32% (2009 est.)
Household income or consumption by percentage sharelowest 10%: 2.7%
highest 10%: 26.7% (2009 est.)
Budgetrevenues: $8.198 billion
expenditures: $13.4 billion (2017 est.)
Taxes and other revenues6.9% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-4.4% of GDP (2017 est.)
Public debt54.8% of GDP (2017 est.)
65.4% of GDP (2016 est.)
Inflation rate (consumer prices)26.9% (2017 est.)
17.8% (2016 est.)
Stock of narrow money$13.64 billion (31 December 2017 est.)
$12.51 billion (31 December 2016 est.)
Stock of broad money$20.96 billion (31 December 2017 est.)
$19.53 billion (31 December 2016 est.)
Stock of domestic credit$21.63 billion (31 December 2017 est.)
$21.61 billion (31 December 2016 est.)
Market value of publicly traded shares$NA
Agriculture - productscotton, groundnuts (peanuts), sorghum, millet, wheat, gum Arabic, sugarcane, cassava (manioc, tapioca), mangoes, papaya, bananas, sweet potatoes, sesame seeds; animal feed, sheep and other livestock
Industriesoil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly, milling
Industrial production growth rate2.5% (2017 est.)
Current Account Balance-$2.317 billion (2017 est.)
-$5.126 billion (2016 est.)
Exports$3.808 billion (2017 est.)
$3.094 billion (2016 est.)
Exports - commoditiesgold; oil and petroleum products; cotton, sesame, livestock, peanuts, gum Arabic, sugar
Exports - partnersUAE 42.9%, Saudi Arabia 19.5%, Egypt 15.9% (2016)
Imports$8.649 billion (2017 est.)
$7.325 billion (2016 est.)
Imports - commoditiesfoodstuffs, manufactured goods, refinery and transport equipment, medicines, chemicals, textiles, wheat
Imports - partnersUAE 15.4%, India 11.2%, Egypt 10.4%, Saudi Arabia 9.2%, Turkey 8.9%, Japan 5% (2016)
Reserves of foreign exchange and gold$504.9 million (31 December 2017 est.)
$168.3 million (31 December 2016 est.)
Debt - external$53.35 billion (31 December 2017 est.)
$51.26 billion (31 December 2016 est.)
Stock of direct foreign investment - at home$25.47 billion (31 December 2016 est.)
$25.47 billion (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.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on January 20, 2018

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