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Economy of South Sudan information


Economy of South Sudan
Juba, the economic center of South Sudan
CurrencySouth Sudanese pound (£ SSP)
Trade organisations
AU, AfCFTA (signed), EAC, IGAD, WTO (observer)
Country group
  • Least Developed[1]
  • Low-income economy[2]
Statistics
GDP
  • Decrease $7.012 billion (nominal, 2023 est.)[3]
  • Decrease $7.743 billion (PPP, 2023 est.)[4]
GDP rank
  • 156th (nominal, 2023)
  • 165th (PPP, 2023)
GDP growth
  • –1.2% (2018) 11.3% (2019e)
  • 4.9% (2020e) 3.2% (2021e)[4]
GDP per capita
  • Decrease $467(nominal, 2023 est.)[3]
  • Increase $516 (PPP, 2023 est.)[3]
GDP per capita rank
  • 194th (nominal, 2023)
  • 196th (PPP, 2023)
Inflation (CPI)
-11.8 (2022)[5]
Population below poverty line
  • 76%[6]
  • 42.9% on less than $1.90/day (2009)[obsolete source][7]
Gini coefficient
45.5 medium (2013)[8]
Human Development Index
  • Decrease 0.385 low (2021)[9] (191st)
  • Decrease 0.245 low IHDI (2021)[10]
Labour force
Increase 4,345,169 (2022)[11]
External
Exports$1.13 billion (2016 est.)[12]
Imports$3.795 billion (2016 est.)[12]
Current account
Decrease −$154 million (2017 est.)[12]
Public finances
Government debt
Positive decrease 62.7% of GDP (2017 est.)[12]
Budget balance
−1.3% (of GDP) (FY2017/18 est.)[12]
Revenues259.6 million (FY2017/18 est.)[12]
Expenses298.6 million (FY2017/18 est.)[12]
Foreign reserves
$73 million (31 December 2016 est.)[12]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

South Sudan became the world's newest country and Africa's 55th nation on 9 July 2011. The South Sudanese Civil War, which started in December 2013, undermined economic development achieved since independence, making humanitarian work difficult to conduct within the country. As such, South Sudan is facing economic stagnation and instability in its first 10 years after independence. Moreover, poverty is widespread throughout the country as a result of inter-communal conflict, displacement, and external fear.[13]

The economy of South Sudan is $3.681 billion by gross domestic product as of 2019, being one of the most oil dependent economies in the world, with 98% of government's annual operating budget and 80% of its gross domestic product (GDP) derived from oil,[14] despite being endowed with adequate natural resources. It has a very fertile agricultural land and vast quantities of livestock. The livestock include over 60 million cattle, sheep and goats. Instability, unsatisfactory governance, and corruption continue to hinder development in South Sudan.

South Sudan is mostly underdeveloped, and one of the least developed countries; most cities in the country have no electricity or running water, and overall infrastructure is lacking, with only 10,000 km (6,200 mi) of paved roads.[15]

  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. ^ a b c "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 23 May 2023.
  4. ^ a b "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 23 May 2023.
  5. ^ "Which Countries Have the Lowest Inflation?". 16 February 2023. Retrieved 15 March 2023.
  6. ^ "Overview".
  7. ^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - South Sudan". data.worldbank.org. World Bank. Retrieved 24 January 2020.
  8. ^ "Income Gini coefficient". hdr.undp.org. World Bank. Retrieved 24 January 2020.
  9. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
  10. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
  11. ^ "Labor force, total - South Sudan". data.worldbank.org. World Bank. Retrieved 2 January 2024.
  12. ^ a b c d e f g h "AFRICA :: SOUTH SUDAN". CIA.gov. Central Intelligence Agency. Retrieved 24 January 2020.
  13. ^ "Overview". World Bank. Retrieved 1 June 2022.
  14. ^ Garcia, COL L. Bortoluzzi (27 July 2020). "South Sudan Country Profile – Economy - PKSOI". Retrieved 20 September 2022.
  15. ^ Elbagir, Nima; Karimi, Faith (9 July 2011). "South Sudanese celebrate the birth of their nation". CNN. Retrieved 9 July 2011.

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