Is Sudan a wealthy country?
Sudan is a country located in northeastern Africa with a population of over 44 million people. Its economy is characterized by agriculture, oil production, and small-scale industries. However, the country has faced significant economic challenges, including political instability, external debt, and economic sanctions, which have hindered its growth and development.
Key Economic Indicators:
GDP Growth: Sudan's GDP growth has been fluctuating in recent years due to various factors, including economic reforms, political instability, and external pressures. In 2020, the country experienced negative GDP growth due to the COVID-19 pandemic and ongoing economic challenges.
Inflation: Inflation rates in Sudan have historically been high, leading to a decrease in purchasing power for citizens. The country has faced bouts of hyperinflation, causing significant economic hardships for its population.
Agriculture: Agriculture is a vital sector in Sudan's economy, employing a large portion of the population. The country is known for its production of crops like sorghum, millet, and wheat. Additionally, Sudan is a major exporter of crops such as gum arabic, which is used in various industries.
Oil Production: Sudan is also an oil-producing country, with oil being a crucial revenue source for the government. However, fluctuations in oil prices and the loss of significant oil-producing regions following South Sudan's secession in 2011 have impacted the sector.
External Debt: Sudan has been burdened with a substantial external debt, making it challenging for the government to allocate resources effectively and invest in critical infrastructure and social programs.
Economic Sanctions: Sudan has been under economic sanctions by the United States for decades due to its involvement in conflicts and human rights violations. These sanctions have restricted Sudan's access to international markets and financial institutions.
Poverty and Unemployment: Sudan has faced persistent issues of poverty and high unemployment rates. The lack of job opportunities and economic opportunities has contributed to a significant informal economy.
Economic Reforms: The Sudanese government has initiated economic reforms to address the country's economic challenges. This includes attempts to stabilize the currency, reduce subsidies, and attract foreign investment.
What is the GDP of Sudan?
|Currency Name and Code||Sudanese Point (SDG)|
|GDP - Gross Domestic Product (PPP)||$176,400,000,000 (USD)|
|GDP - official exchange rate||$84,330,000,000 (USD)|
|GDP - real growth rate||3.5%|
|GDP Per Capita||$4,500.00 (USD)|
|GDP by Sector- agriculture||28.9%|
|GDP by Sector- Industry||20.4%|
|GDP by Sector- services||50.7%|
|GDP - composition, by end use||
household consumption: 78.7%
government consumption: 6.7%
investment in fixed capital: 19%
investment in inventories: 1%
exports of goods and services: 7.6%
imports of goods and services: -13%\
|Population Below Poverty Line||40%|
|Labor Force By Occupation- agriculture||80%|
|Labor Force By Occupation- industry||7%|
|Labor Force By Occupation- services||13%|
|Fiscal Year||calendar year|
|Annual Budget||$11,060,000,000 (USD)|
|Budget Surplus or Deficit - percent of GDP||-4.4%|
|Public Debt (% of GDP)||79%|
|Taxes and other revenues - percent of GDP||8.6%|
|Major Industries||oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly|
|Industrial Growth Rate||3.5%|
|Agriculture Products||cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame; sheep, livestock|
|Exchange Rate per US Dollar||Sudanese dinar (SDD)|