Economy Of Niger
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Economy overview
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Niger is a poor, landlocked Sub-Saharan nation, whose economy centers on subsistence agriculture, animal husbandry, and reexport trade, and increasingly less on uranium, because of declining world demand. The 50% devaluation of the West African franc in January 1994 boosted exports of livestock, cowpeas, onions, and the products of Niger's small cotton industry. The government relies on bilateral and multilateral aid - which was suspended following the April 1999 coup d'etat - for operating expenses and public investment. In 2000-01, the World Bank approved a structural adjustment loan of $105 million to help support fiscal reforms. However, reforms could prove difficult given the government's bleak financial situation. The IMF approved a $73 million poverty reduction and growth facility for Niger in 2000 and announced $115 million in debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Further disbursements of aid occurred in 2002. Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources.
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GDP
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purchasing power parity - $9.062 billion (2004 est.)
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GDP - real growth rate
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3.8% (2004 est.)
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GDP - per capita
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purchasing power parity - $800 (2004 est.)
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GDP - composition by sector
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agriculture: 39%
industry: 17%
services: 44% (2001)
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Investment gross fixed
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Population below poverty line
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63% (1993 est.)
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Household income or consumption by percentage share
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lowest 10%: 0.8%
highest 10%: 35.4% (1995)
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Distribution of family income - Gini index
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50.5 (1995)
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Inflation rate consumer prices
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3% (2002 est.)
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Labor force
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70,000 receive regular wages or salaries (2002 est.)
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Labor force by occupation
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agriculture 90%, industry and commerce 6%, government 4%
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Unemployment rate
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NA (2002 est.)
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Budget
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revenues: $320 million - including $134 million from foreign sources
expenditures: $320 million, including capital expenditures of $178 million (2002 est.)
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Public debt
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Agriculture products
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cowpeas, cotton, peanuts, millet, sorghum, cassava (tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry
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Industries
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uranium mining, cement, brick, textiles, food processing, chemicals, slaughterhouses
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Industrial production growth rate
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NA (2001 est.)
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Electricity production
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242 million kWh (2001)
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Electricity production by source
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fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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325.1 million kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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100 million kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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5,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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Exports
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$280 million f.o.b. (2002 est.)
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Exports commodities
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uranium ore, livestock, cowpeas, onions
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Exports partners
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France 42.2%, Nigeria 28.9%, Japan 17.2%, Spain 4.4% (2003)
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Imports
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$400 million f.o.b. (2002 est.)
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Imports commodities
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foodstuffs, machinery, vehicles and parts, petroleum, cereals
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Imports partners
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France 16.4%, Cote d'Ivoire 13.8%, China 10.5%, Nigeria 7.7%, US 5.5%, Japan 4.9% (2003)
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Reserves of foreign exchange gold
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Debt external
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$1.6 billion (1999 est.)
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Economic aid recipient
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$341 million (1997)
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Currency
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Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
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Currency code
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XOF
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Exchange rates
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Communaute Financiere Africaine francs (XOF) per US dollar - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to French Translation , English to Hausa Translation , English to Djerma Translation .
This information was reproduced in part from the CIA World Fact book.
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