Sudan's Macroeconomic Statistics
Despite being the 17th fastest-growing economy worldwide, and having invested in its infrastructure and implemented its economic policies, the country of Sudan still faces many economic challenges. For the last thirteen years, Sudan has busily been implementing the IMF-recommended macroeconomic reforms.
Sudan began exporting oil in 1999, and it had its first trade surplus in that year's final quarter. The current oil output is a little over half a million barrels per day, and increased production has revived the industrial sector. Expanded processing of exports have helped sustain the growth of the GDP, and have helped stabilize the exchange rate along with fiscal policy improvements.
Oil is Sudan's chief export, and production is increasing rapidly. The Sudanese economy is expanding; it grew by almost 9% in 2007. The growth continued due to increased oil production and higher power production. Other mineral resources are available for processing in Sudan: natural gas, gold, asbestos, mica, zinc, lead, uranium, copper, and aluminum.
Agriculture is by far the Sudanese economy's most vital sector, employing the vast majority of the work force and contributing 39% of the gross domestic product. However, farms remain dependent on scant rainfall, and other factors are keeping most of the population below the poverty line.
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