Sudan--Economy
CIA FactbookThe World Factbook 1993: Sudan Economy

Overview: Sudan is buffeted by civil war, chronic political instability, adverse weather, high inflation, a drop in remittances from abroad, and counterproductive economic policies. The economy is dominated by governmental entities that account for more than 70% of new investment. The private sector's main areas of activity are agriculture and trading, with most private industrial investment predating 1980. The economy's base is agriculture, which employs 80% of the work force. Industry mainly processes agricultural items. Sluggish economic performance over the past decade, attributable largely to declining annual rainfall, has reduced levels of per capita income and consumption. A large foreign debt and huge arrearages continue to cause difficulties. In 1990 the International Monetary Fund took the unusual step of declaring Sudan noncooperative because of its nonpayment of arrearages to the Fund. Despite subsequent government efforts to implement reforms urged by the IMF and the World Bank, the economy remained stagnant in FY91 as entrepreneurs lack the incentive to take economic risks. Growth in 1992 was featured by the recovery of agricultural production in northern Sudan after two years of drought.

National product: GDP - exchange rate conversion - $5.2 billion (FY92 est.)

National product real growth rate: 9% (FY92 est.)

National product per capita: $184 (FY92 est.)

Inflation rate (consumer prices): 150% (FY92 est.)

Unemployment rate: 30% (FY92 est.)

Budget: revenues $1.3 billion; expenditures $2.1 billion, including capital expenditures of $505 million (FY91 est.)

Exports: $315 million (f.o.b., FY92 est.) commodities: cotton 52%, sesame, gum arabic, peanuts partners: Western Europe 46%, Saudi Arabia 14%, Eastern Europe 9%, Japan 9%, US 3% (FY88) Imports: $1.3 billion (c.i.f., FY92 est.) commodities: foodstuffs, petroleum products, manufactured goods, machinery and equipment, medicines and chemicals, textiles partners: Western Europe 32%, Africa and Asia 15%, US 13%, Eastern Europe 3% (FY88)

External debt: $15 billion (June 1992 est.)

Industrial production: growth rate 4.8%; accounts for 11% of GDP (FY92)

Electricity: 610,000 kW capacity; 905 million kWh produced, 40 kWh per capita (1991)

Industries: cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining

Agriculture: accounts for 35% of GDP and 80% of labor force; water shortages; two-thirds of land area suitable for raising crops and livestock; major products - cotton, oilseeds, sorghum, millet, wheat, gum arabic, sheep; marginally self-sufficient in most foods

Economic aid: US commitments, including Ex-Im (FY70-89), $1.5 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $5.1 billion; OPEC bilateral aid (1979-89), $3.1 billion; Communist countries (1970-89), $588 million

Currency: 1 Sudanese pound (#Sd)=100 piasters

Exchange rates: official rate - Sudanese pounds (#Sd) per US$1 - 124 (January 1993), 90.1 (March 1992), 5.4288 (1991), 4.5004 (fixed rate since 1987), 2.8121 (1987); note - free market rate 155 (January 1993)

Fiscal year: 1 July-30 June