Economy of Sudan

Economy of Sudan
CurrencySudanese pound (SDG)
Calendar Year
Trade organisations
AU, AfCFTA (signed), Arab League, COMESA, WTO
Country group
Statistics
PopulationIncrease 48,109,006 (2023)[3]
GDP
  • Decrease $30.873 billion (nominal, 2019 est.)[4]
  • Decrease $175.228 billion (PPP, 2019 est.)[5]
GDP rank
GDP growth
  • −2.3% (2018e) −2.5% (2019e)
  • −7.2% (2020e) −3.0% (2021e)[5]
GDP per capita
  • Decrease $714 (nominal, 2019 est.)[4]
  • Decrease $4,072 (PPP, 2019 est.)[4]
GDP per capita rank
GDP by sector
81.3% (2020 est.)[5]
Population below poverty line
  • 46.5% in poverty (2009)[7]
  • 41% on less than $3.20/day (2009)[8]
35.3 medium (2013)[9]
Labour force
  • Increase 12,064,673 (2019)[12]
  • 41.1% employment rate (2011)[13]
Labour force by occupation
Unemployment
  • Negative increase 25.0% (2020 est.)[5]
  • Positive decrease 19.6% (2017 est.)[6]
Main industries
oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly, and milling.
External
ExportsIncrease $4.1 billion (2017 est.)[6]
Export goods
gold; oil and petroleum products; cotton, sesame, livestock, peanuts, gum Arabic, sugar
Main export partners
ImportsIncrease $8.22 billion (2017 est.)[6]
Import goods
foodstuffs, manufactured goods, refinery and transport equipment, medicines, chemicals, textiles, wheat
Main import partners
FDI stock
  • $25.47 billion (31 December 2016 est.)[6]
  • Steady Abroad: NA
Decrease −$4.811 billion (2017 est.)[6]
Negative increase $56.05 billion (2017 est.)[6]
Public finances
Negative increase 121.6% of GDP (2017 est.)[6]
−10.6% (of GDP) (2017 est.)[6]
Revenues8.48 billion (2017 est.)[6]
Expenses13.36 billion (2017 est.)[6]
Increase $198 million (31 December 2017 est.)[6]
All values, unless otherwise stated, are in US dollars.


The economy of Sudan is largely based on agriculture and oil exports, with additional revenue coming from mining and manufacturing. GDP growth registered more than 10% per year in 2006 and 2007. Sudan had $30.873 billion by gross domestic product as of 2019, and has been working with the International Monetary Fund (IMF) to implement macroeconomic reforms, including a managed float of the exchange rate. Sudan began exporting crude oil in the last quarter of 1999.

Agricultural production remains important, because it employs 80% of the work force and contributes a third of the GDP. The War in Darfur, the aftermath of two decades of war in the Second Sudanese Civil War (1983–2005) in the south, the lack of basic infrastructure in large areas, and a reliance by much of the population on subsistence agriculture ensure much of the population will remain at or below the poverty line for years. The problem remains, despite rapid rises in average per capita income. In January 2007, the government introduced a new Sudanese pound, at an initial exchange rate of US$1 = £S.2. Sudan is still a least developed country according to United Nations.

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Population, total". data.worldbank.org. World Bank. Retrieved 7 November 2019.
  4. ^ a b c "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 16 November 2019.
  5. ^ a b c d "World Economic Outlook Database, April 2020". IMF.org. International Monetary Fund. Retrieved 20 April 2020.
  6. ^ a b c d e f g h i j k l m "The World Factbook". Central Intelligence Agency. Retrieved 9 September 2019.
  7. ^ "Poverty headcount ratio at national poverty lines (% of population)". data.worldbank.org. World Bank. Retrieved 9 September 2019.
  8. ^ "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population)". data.worldbank.org. World Bank. Retrieved 9 September 2019.
  9. ^ "Income Gini coefficient". hdr.undp.org. World Bank. Retrieved 23 January 2020.
  10. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  11. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  12. ^ "Labor force, total – Sudan". data.worldbank.org. World Bank. Retrieved 23 January 2020.
  13. ^ "Employment to population ratio, 15+, total (%) (national estimate)". data.worldbank.org. World Bank. Retrieved 9 September 2019.
  14. ^ "Export partners of Sudan". The Observatory of Economic Complexity. Retrieved 15 February 2024.
  15. ^ "Import partners of Sudan". The Observatory of Economic Complexity. Retrieved 15 February 2024.