unbekannter Gast

Niger: Economy#

Niger is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes about one-third of GDP and provides livelihood for about nine-tenths of the population. Drought, desertification, and strong population growth have undercut the economy. Niger shares a common currency, the CFA franc, and a common central bank, the Central Bank of West African States (BCEAO), with seven other members of the West African Monetary Union. Debt relief has significantly reduced Niger's annual debt service obligations, freeing funds for expenditures on basic health care, primary education, HIV/AIDS prevention, rural infrastructure, and other programs geared at poverty reduction. Nearly half of the government's budget is derived from foreign donor resources. The economy in recent years has been hurt by terrorist activity and kidnappings near its uranium mines and instability in Mali. Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Niger has sizable reserves of oil and oil production, which began in 2012, along with refining, and exports are expected to grow through 2016. However, oil revenues have fallen well short of predictions, mainly because of logistical challenges. Food insecurity and drought remain perennial problems for Niger. The mining sector may be affected by the government’s attempt to renegotiate extraction rights contracts.

Economic Facts#

GDP (purchasing power parity)$13.98 billion (2013 est.)
$13.17 billion (2012 est.)
$11.84 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate6.2% (2013 est.)
11.2% (2012 est.)
2.2% (2011 est.)
GDP - per capita (PPP)$800 (2013 est.)
$800 (2012 est.)
$800 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 35.2%
industry: 14.2%
services: 50.6% (2013 est.)
Population below poverty line63% (1993 est.)
Household income or consumption by percentage sharelowest 10%: 3.7%
highest 10%: 28.5% (2007)
Labor force - by occupationagriculture: 90%
industry: 6%
services: 4% (1995)
Exports - commoditiesuranium ore, livestock, cowpeas, onions
Exports - partnersNigeria 40.3%, US 17.2%, India 14.3%, Italy 8.6%, China 7.8%, Ghana 5.3% (2012)
Agriculture - productscowpeas, cotton, peanuts, millet, sorghum, cassava (manioc, tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry
Budgetrevenues: $1.911 billion
expenditures: $2.086 billion (2013 est.)
Imports - commoditiesfoodstuffs, machinery, vehicles and parts, petroleum, cereals
Imports - partnersFrance 14.4%, China 11.3%, Nigeria 10.1%, French Polynesia 9.2%, Togo 5.1%, Cote dIvoire 4.5% (2012)
Exchange ratesCommunaute Financiere Africaine francs (XOF) per US dollar -
500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)
Exports$1.539 billion (2013 est.)
$1.458 billion (2012 est.)
Debt - external$1.556 billion (31 December 2013 est.)
$1.551 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$2.314 billion (2013 est.)
$2.273 billion (2012 est.)
Industrial production growth rate5.7% (2013 est.)
Industriesuranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses
Inflation rate (consumer prices)1.9% (2013 est.)
0.5% (2012 est.)
Labor force4.688 million (2007)
Unemployment rateNA%
Distribution of family income - Gini index34 (2007)
50.5 (1995)
Current account balance-$1.45 billion (2013 est.)
-$1.453 billion (2012 est.)
GDP (official exchange rate)$7.304 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate4.25% (31 December 2009)
4.75% (31 December 2008)
Commercial bank prime lending rate4% (31 December 2013 est.)
4% (31 December 2012 est.)
Stock of domestic credit$992.7 million (31 December 2013 est.)
$915 million (31 December 2012 est.)
Stock of narrow money$1.388 billion (31 December 2013 est.)
$1.284 billion (31 December 2012 est.)
Stock of broad money$1.74 billion (31 December 2013 est.)
$1.61 billion (31 December 2012 est.)
Taxes and other revenues26.2% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.4% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 61%
government consumption: 25.1%
investment in fixed capital: 44.7%
investment in inventories: 0%
exports of goods and services: 26.3%
imports of goods and services: -57.1%
(2013 est.)
Gross national saving23.7% of GDP (2013 est.)
22% of GDP (2012 est.)
25.3% of GDP (2011 est.)