The economy of South Sudan is one of the most oil dependent economies in the world.

By September 2019, outstanding public and publicly guaranteed external debt was estimated at about $60 billion…

The country’s GDP will continue rising for the next two years, from 2.6 per cent in 2018 to 3.1 per cent in … About 63% of Sudan’s land is agricultural, and only 15–20% of it is under cultivation, offering huge private investment opportunities. All suggestions for corrections of any errors about Sudan Economy 2020 should be addressed to the CIA or the source cited on each page. Sudan Economy Profile 2019.

By September 2019, outstanding public and publicly guaranteed external debt was estimated at about $60 billion, up from $53.6 billion in 2016 and $56 billion in 2018.Extreme poverty fell from 29.6% of the population in 2010 to 25.2% in 2015, as inequality declined more in rural areas than in urban ones.With its new government coalition, Sudan presents underexploited opportunities that can reinvigorate economic growth. Macroeconomic performance and outlook Real GDP growth was an estimated 5.8% in 2019, a large increase from 0.5% in 2018. Sudan began exporting crude oil in the last quarter of 1999. Inflation reached 50.6% in 2019, fueled by high production input costs due to currency depreciation.Inflation, projected at 61.5% for 2020 and 65.7% for 2021, is mainly driven by the monetization of the fiscal deficit, which narrowed from 7.7% of GDP in 2018 to 5.7% in 2019 but is projected at 9.9% in 2020 and 10.9% in 2021.The exchange rate averaged 47.1 Sudanese pounds per dollar in September 2019, compared with 45.1 in 2018.

From 1997 to date, Sudan has been working with the IMF to implement macroeconomic reforms, including a managed float of the exchange rate. Real GDP contracted in 2019 by an estimated 2.4% driven by a contraction in the services sector and investment in real estate and business services. Sudan’s economic freedom score is 45.0, making its economy the 173rd freest in the 2020 Index. 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 government should undertake structural reforms to facilitate the movement of labor from subsistence agriculture to industry and services to accelerate laborabsorbing growth and reduce unemployment.Institutional weaknesses, unemployment that has remained at 14–15% for more than two decades (with 25% youth unemployment), external debt, climate change, and low labor and capital productivity are among the key domestic challenges.

Home > Factbook > Countries > Sudan. As the world’s largest producer of gum arabic, Sudan will continue to depend on agriculture (32% of GDP in 2019) to boost its exports, generate foreign exchange, and reduce the current account deficit.Sudan is in debt distress, reducing its capacity to mobilize domestic resources or to borrow from international markets.

Sudan is in debt distress, reducing its capacity to mobilize domestic resources or to borrow from international markets. Despite being endowed with a lot of natural resources including very fertile agricultural land and vast number of livestock of over 60 million cattle, sheep and goats.

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. The economy of Sudan has boomed on the back of increases in oil production, high oil prices, and large inflows of foreign direct investment until the second half of 2002.

This page has economic forecasts for Sudan including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Sudan economy. The private sector is constrained by limited access to finance, a low-skilled labor force, and an inadequate legal and regulatory framework. The oil sector remains the key driver of the economy, followed by services and … 2) The rank that you see is the CIA reported rank, which may have the following issues: a) They assign increasing rank number, alphabetically for … 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 current account deficit improved to 7.8% of GDP in 2019 from 13.6% in 2018.

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