| Economy | Niger |
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Economy - overview:
|
Niger is one of the poorest countries in the world, ranking near last on the United Nations Development Fund index of human development. It is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Drought cycles, 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. In December 2000, Niger qualified for enhanced debt relief under the International Monetary Fund program for Highly Indebted Poor Countries (HIPC) and concluded an agreement with the Fund on a Poverty Reduction and Growth Facility (PRGF). Debt relief provided under the enhanced HIPC initiative significantly reduces 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. In December 2005, Niger received 100% multilateral debt relief from the IMF, which translates into the forgiveness of approximately US $86 million in debts to the IMF, excluding the remaining assistance under HIPC. Nearly half of the government's budget is derived from foreign donor resources. Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Uranium prices have increased sharply in the last few years. A drought and locust infestation in 2005 led to food shortages for as many as 2.5 million Nigeriens. |
GDP (purchasing power parity):
|
$9.784 billion (2008 est.)
$9.239 billion (2007)
$8.944 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
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$700 (2008 est.)
$600 (2007 est.)
$700 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
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$5.322 billion (2008 est.) |
GDP - real growth rate:
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5.9% (2008 est.)
3.3% (2007 est.)
5.2% (2006 est.) |
GDP - composition by sector:
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agriculture: 39%
industry: 17%
services: 44% (2001) |
Investment (gross fixed):
|
void |
Population below poverty line:
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63% (1993 est.) |
Household income or consumption by percentage share:
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lowest 10%: 0.8%
highest 10%: 35.4% (1995) |
Distribution of family income - Gini index:
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50.5 (1995) |
Inflation rate (consumer prices):
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0.1% (2007 est.) |
Central bank discount rate:
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4.25% (31 December 2007) |
Commercial bank prime lending rate:
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NA |
Stock of money:
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$604.5 million (31 December 2007) |
Stock of money - per capita:
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40 USD per capita |
Stock of quasi money:
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$193.7 million (31 December 2007) |
Stock of quasi money - per capita:
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13 USD per capita |
Stock of domestic credit:
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$318.9 million (31 December 2007) |
Stock of domestic credit - per capita:
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21 USD per capita |
Labor force:
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70,000 salaried workers, 60% of whom are employed in the public sector (1995) |
Labor force participation rate:
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45.73 % of population |
Labor force - by occupation:
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agriculture: 90%
industry: 6%
services: 4% (1995) |
Unemployment rate:
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NA% |
Budget:
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revenues: $320 million (includes $134 million from foreign sources)
expenditures: $320 million (2002 est.) |
Budget revenues per capita:
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21 USD per capita |
Public debt:
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void |
Industries:
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uranium mining, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses |
Industrial production growth rate:
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5.1% (2003 est.) |
Electricity - production:
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240 million kWh (2006 est.) |
Electricity - production per capita:
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16 kWh per capita |
Electricity - consumption:
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443.2 million kWh (2006 est.) |
Electricity - consumption - per capita:
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29 kWh per capita |
Electricity - exports:
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0 kWh (2007 est.) |
Electricity - imports:
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225 million kWh (2007 est.) |
Oil - production:
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0 bbl/day (2007 est.) |
Oil - production per capita:
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void |
Oil - consumption:
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5,550 bbl/day (2006 est.) |
Oil - consumption - per capita:
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0.13 bbl/year per capita |
Oil - exports:
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0 bbl/day (2005) |
Oil - imports:
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5,425 bbl/day (2005) |
Oil - proved reserves:
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NA bbl |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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0 cu m (2007 est.) |
Natural gas - consumption - per capita:
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void |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
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0 cu m (2007 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2006 est.) |
Agriculture - products:
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cowpeas, cotton, peanuts, millet, sorghum, cassava (tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry |
Current account balance:
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-$321 million (2007 est.) |
Current account balance - per capita:
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-20 USD per capita |
Exports:
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$428 million f.o.b. (2006) |
Exports per capita:
|
28 USD per capita |
Exports - commodities:
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uranium ore, livestock, cowpeas, onions |
Exports - partners:
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France 57%, Nigeria 26.4%, Ghana 4.1% (2007) |
Imports:
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$800 million f.o.b. (2006) |
Imports per capita:
|
53 USD per capita |
Imports - commodities:
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foodstuffs, machinery, vehicles and parts, petroleum, cereals |
Imports - partners:
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France 15.9%, French Polynesia 8.8%, Nigeria 8.6%, Belgium 8.6%, US 6.9%, Cote d'Ivoire 5.6% (2007) |
Reserves of foreign exchange and gold:
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void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
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$2.1 billion (2003 est.) |
Debt - external - per capita:
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138 USD per capita |
Stock of direct foreign investment - at home:
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void |
Stock of direct foreign investment - at home - per capita:
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void |
Stock of direct foreign investment - abroad:
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void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
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void |
Economic aid - recipient:
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$515.4 million (2005) |
Economic aid - recipient per capita:
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34 USD per capita |
Currency (code):
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Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States |
Exchange rates:
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Communaute Financiere Africaine francs (XOF) per US dollar - 447.81 (2008 est.), 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004)
note: since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par |
Fiscal year:
|
calendar year |
|
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