South Sudan Economy Stats
Overview:
Industry and infrastructure in landlocked South Sudan are severely underdeveloped and poverty is widespread, following several decades of civil war with the north. Subsistence agriculture provides a living for the vast majority of the population. Property rights are tentative and price signals are missing because markets are not well organized. South Sudan has little infrastructure - just 60 km of paved roads. Electricity is produced mostly by costly diesel generators and running water is scarce. The government spends large sums of money to maintain a large army; delays in paying salaries have resulted in riots by unruly soldiers. Ethnic conflicts have resulted in a large number of civilian deaths and displacement. South Sudan depends largely on imports of goods, services, and capital from the north. Despite these disadvantages, South Sudan does have abundant natural resources. South Sudan produces nearly three-fourths of the former Sudan's total oil output of nearly a half million barrels per day. The government of South Sudan derives nearly 98% of its budget revenues from oil. Oil is exported through two pipelines that run to refineries and shipping facilities at Port Sudan on the Red Sea, and the 2005 oil sharing agreement with Khartoum called for a 50-50 sharing of oil revenues between the two entities. That deal expired on 9 July, however, when South Sudan became an independent country. The economy of South Sudan undoubtedly will remain linked to Sudan for some time, given the long lead time and great expense required to build another pipeline. South Sudan also holds one of the richest agricultural areas in Africa in the White Nile valley, which has very fertile soils and more-than-adequate water supplies. Currently the region supports 10-20 million head of cattle. South Sudan also contains large wildlife herds, which could be exploited in the future to attract eco-tourists. And the White Nile has sufficient flow to generate large quantities of hydroelectricity. South Sudan does not have large external debt or structural trade deficits. South Sudan has received more than $4 billion in foreign aid since 2005, largely from the UK, US, Norway, and Netherlands, but Khartoum has imposed blockades on goods and capital going to South Sudan. The World Bank plans to support investment in infrastructure, agriculture, and power generation. The Government of South Sudan has set a target for economic growth of 6% for the remainder of 2011, and expects 7.2% growth in 2012. Inflation stood at 8.6% in April 2011, with high fuel prices pushing up food prices. After independence, South Sudan's central bank plans to issue a new currency, the South Sudanese Pound, allowing a short grace period for turning in the old currency. Long term problems include alleviating poverty, maintaining macroeconomic stability, improving tax collection and financial management, focusing resources on speeding growth, and improving the business environment.
Definitions
- Exports > Main exports: Country main exports.
- GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
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GDP > Composition, by end use > Imports of goods and services:
This entry is derived from Economy > GDP > Composition, by end use, which shows who does the spending in an economy: consumers, businesses, government, and foreigners. The distribution gives the percentage contribution to total GDP of household consumption, government consumption, investment in fixed capital, investment in inventories, exports of goods and services, and imports of goods and services, and will total 100 percent of GDP if the data are complete.
household consumption consists of expenditures by resident households, and by nonprofit institutions that serve households, on goods and services that are consumed by individuals. This includes consumption of both domestically produced and foreign goods and services.
government consumption consists of government expenditures on goods and services. These figures exclude government transfer payments, such as interest on debt, unemployment, and social security, since such payments are not made in exchange for goods and services supplied.
investment in fixed capital consists of total business spending on fixed assets, such as factories, machinery, equipment, dwellings, and inventories of raw materials, which provide the basis for future production. It is measured gross of the depreciation of the assets, i.e., it includes investment that merely replaces worn-out or scrapped capital. Earlier editions of The World Factbook referred to this concept as Investment (gross fixed) and that data now have been moved to this new field.
investment in inventories consists of net changes to the stock of outputs that are still held by the units that produce them, awaiting further sale to an end user, such as automobiles sitting on a dealer’s lot or groceries on the store shelves. This figure may be positive or negative. If the stock of unsold output increases during the relevant time period, investment in inventories is positive, but, if the stock of unsold goods declines, it will be negative. Investment in inventories normally is an early indicator of the state of the economy. If the stock of unsold items increases unexpectedly – because people stop buying - the economy may be entering a recession; but if the stock of unsold items falls - and goods "go flying off the shelves" - businesses normally try to replace those stocks, and the economy is likely to accelerate.
exports of goods and services consist of sales, barter, gifts, or grants of goods and services from residents to nonresidents.
imports of goods and ...
Full definition - GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
- GDP > Per capita > PPP per thousand people: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. Figures expressed per thousand people for the same year.
- GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
- GDP > Real growth rate: GDP growth on an annual basis adjusted for inflation and expressed as a percent.
- GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
- Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
- Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
- Tax > GDP > Constant LCU: GDP (constant LCU). GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant local currency.
SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; British Broadcasting Corporation 2014; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbook 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011; World Bank national accounts data
Citation
South Sudan Economy Profiles (Subcategories)
| Companies 8 | Poverty 5 |
| Currency 3 | Poverty and inequality 3 |
| Debt 36 | Savings 11 |
| GDP 11 | Spending 50 |
| Government 6 | Tax 19 |
| Inflation 4 | Trade 18 |
| Innovation 3 |
South Sudan categories
| Agriculture | Environment | Language |
| Background | Geography | Media |
| Crime | Government | Military |
| Culture | Health | People |
| Economy | Import | Religion |
| Education | Industry | Transport |
| Energy | Labor |
- South Sudan ranked first for inflation rate > consumer prices amongst Christian countries in 2012.
- South Sudan ranked third last for GDP amongst Religious countries in 2012.
- South Sudan ranked 13 places from the bottom for GDP per capita amongst Landlocked countries in 2012.
- South Sudan ranked last for GDP > real growth rate amongst Failed states in 2012.
- South Sudan ranked #4 for companies > ease of doing business index > 1=most business-friendly regulations globally in 2013.
- South Sudan ranked third for GDP > composition, by end use > exports of goods and services amongst Sub-Saharan Africa in 2013.
- South Sudan ranked 4th last for GDP > per capita > PPP amongst Sparsely populated countries in 2012.
