South sudan economy

Jul 2, 2021 · The 4 th edition of the South Sudan Economic Update, Pathways to Sustainable Food Security, acknowledges that concurrent setbacks in the economy, widening poverty and food insecurity, including the COVID-19 (coronavirus) pandemic and a resurgence of conflict that has forced a great percentage of South Sudanese people to lose their sources of May 9, 2024 · Updated 11:06 AM PDT, May 9, 2024. By Matiop A. South Sudan separated from Sudan due to longstanding ethnic, religious, and economic disparities, which led to decades of conflict. Since then, USAID assistance has provided nearly 13,000 farmers with machinery and climate-resistant seeds, improved nutrition for nearly 2,500 children under-five, spurred The Gross Domestic Product (GDP) in South Sudan was worth 12 billion US dollars in 2015, according to official data from the World Bank. South Sudan’s President Salva Kiir thanked his Kenyan counterpart, William Ruto, for hosting the 5 days ago · South Sudan - Politics, Conflict, Unity: The creation of the semiautonomous region of southern Sudan was provided for by the 2005 Comprehensive Peace Agreement (CPA) that ended the long-running civil war between the north and the south. These developments reflect activity in the oil sector, which Daily Updates of the Latest Projects & Documents. Consequently, the economy is . 3% in the decade to 2022. Free and open access to global development data. Main economic sectors 3. March 5, 2024 (JUBA) – South Sudan’s economic cluster has unveiled plans to control hiking consumer prices, allaying fears inaction could spur a popular uprising in a country grappling Jun 1, 2021 · The South Sudan economy is projected to contract by 4. The region was administered under the constitution for southern Sudan, promulgated in December 2005, as well as the country’s national interim constitution Sudan - Economic Indicators. During the civil war, the decline of oil production, the drop in oil prices and rapidly In October 2020 the IMF reported that the COVID-19 pandemic has severely disrupted South Sudan’s economy, leading to a sharp decline in projected growth (-3. Jul 2, 2021 · The World Bank report projects a -4. 2. Though South Sudan GDP fluctuated substantially in recent years, it tended to increase through Aug 30, 2023 · August 30, 2023 JUBA. The most recent exports are led by Crude Petroleum ($471M), Refined Petroleum ($24M), Gold Jun 1, 2021 · South Sudan Economic Update, June 2021. The updated baseline report will serve as an input to develop the National Blue Economy Strategy for South Sudan. These statistics are the most used indicators for measuring a country’s economic development. 6 percent in FY20/21, about 10 percentage points below the pre-pandemic baseline) and a contraction of oil export proceeds (the main source of exports and fiscal revenue), causing an 16. USD 0. It has a population of about 13 million inhabitants, which is expected to increase by roughly South Sudan. ) 113. Jun 6, 2023 · South Sudan’s present economic prospects are tied directly to the production and export of oil. ) 157. 3. With the economic decline in FY2020/21, living conditions have South Sudan. Real GDP contracted an estimated 2. NAIROBI, Kenya (AP) — High-level mediation talks on South Sudan were launched Thursday in Kenya with African presidents calling for an end to a conflict that has crippled the country’s economy for years. GDP growth registered more than 10% per year in 2006 and 2007. The report forecasts favorable economic growth, a decline in inflation, and a stabilization of the exchange rate. (2015) Access to justice for men Regimes of the World. While most of South Sudan’s public revenue is spent on roads, South Sudanese Jul 2, 2021 · After a decade of independence, South Sudan’s economy grew, with gross domestic product (GDP) estimated at 9. It accounts for more than half of gross domestic product (GDP), 95 per cent of exports, and about 90 per cent of government revenue. Most recent value. The report will be updated through extensive group discussions and thorough review of the document. This has reduced economic growth and resulted in double-digit consumer price inflation, which, together with increased fuel prices, triggered violent Street scene in Juba, the capital of Southern Sudan. For more than a decade before 2016, GDP grew at a rate between 8% and 11% annually - one of the fastest growing states among the 188 IMF member countries. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor The government type is a republic; the chief of state and head of government is the president. 7 million people, or two-thirds of the population, faced severe food insecurity —the worst hunger crisis the country has ever faced. South Sudan Economic Outlook Real GDP contracted an estimated 2. GDP South Sudan. Political and economic developments. 08 percent). This report is a first step in quantifying the problem and will provide a baseline to evaluate progress made by the Politics. Mar 3, 2021 · 3 March 2021 Peace and Security. It recommends diversifying the economy, investing in agriculture, and fast-tracking reforms to improve food security and resilience. In response to soaring consumer prices and dwindling basic commodities, South Sudan has announced immediate measures to stabilize the exchange market. Risk. South Sudan is located in East- Central Africa, and it borders a total of six countries. 2 billion U. Sudan has experienced protracted social conflict, civil war, and, in July 2011, the loss of three-quarters of its oil production due to the secession of South Sudan. 2 percent in FY18/19. This region has been negatively affected by war for all but 10 of the years since 1956, resulting in serious neglect, lack of infrastructure development, and major destruction and displacement. Article IV/Country Report: June 10, 2024. 4% is projected in FY2020/21. South Sudan’s economy is mired in a web of challenges that debilitate economic growth. Jun 3, 2024 · South Sudan on the brink after oil exports derailed by Sudan’s civil war Experts say that a halt in oil production could escalate already acute levels of violence and insecurity in South Sudan When Sudan attained independence in 1956, the southerners were assured of full participation in the political system, but the Arab government in Khartoum reneged on its promises. Oil Jun 26, 2024 · Peace talks gained momentum in 2002-04, and the final North/South Comprehensive Peace Agreement in 2005 granted the southern rebels autonomy for six years, followed by a referendum on independence for Southern Sudan. Number of Arrangements since membership: 3. Economic Updates and Modeling. By the end of the 19th century the Sudan was under British-Egyptian rule. Top Destination (2022) China $237M. Trend. Rolandsen Nicki Kindersley Written for the Norwegian Government's major policy review with Øystein Rolandsen of PRIO, this report sets out a survey of the state of South Sudan, examining its military-political structures, government and popular economies, regional conflicts and rebel movements. Both sides have framed the battle for supremacy, which began in mid-April 2023, as an existential struggle The South Sudan Economic Monitor (SSEM) is a World Bank report series that assesses key economic developments, prospects, and policies in South Sudan. Civil war along ethnic South Sudan. A civil war began in 2013, when a rift between President Salva Kiir Mayardit and the vice president he dismissed, Riek Machar, triggered fighting among their supporters and divided the country along ethnic lines. The economy of South Sudan depends to a large degree on the oil sector. Since 2021, nearly 30,000 South Sudanese, more than half of whom are women and nearly 80 percent between 15 and 29, have participated in USAID economic growth activities. Economy. The UN warns that the conflict in May 18, 2024 · South Sudan officially declared independence on July 9, 2011, amidst celebrations but also significant challenges. Nevertheless, the economy is estimated to have contracted by 0. 4 percent in FY2020/21. The lack of basic infrastructure, educated and skilled Jan 8, 2024 · Notwithstanding slower global growth and lingering impacts of recent catastrophic floods, private sector activity, outside the oil sector, has been supported by a relative return to peace, and higher government spending. South Sudan is one of the most oil-dependent countries in the world, with oil accounting for almost the totality of exports, and more than 40% of its gross domestic product (GDP). The civil war that began in late 2013 severely disrupted the economy of South Sudan. 0% in the decade to 2021. dollars (+49. Home to a diverse array of mainly Nilotic ethnolinguistic groups that settled in the territory in the 15th through 19th centuries, South Sudanese society is heavily dependent on seasonal fluctuations in precipitation and seasonal migration. While oil has been the mainstay of the economy since independence from Sudan on July 9, 2011, the government’s focus on augmenting broader local production, particularly in the agriculture sector, presents exciting opportunities for investors. Sudan is the 38th country to reach this milestone, known as the HIPC Decision Point. Region: Sub-Saharan Africa Income Group: Low income Datasets: 86 Indicators: 4112. 35B in 2017 to $544M in 2022. Fiscal policy: South Sudan's fiscal deficit averaged 5. 9% in 2020/21, driven by the oil sector. In brief. 3% in FY2019/20 but a contraction of -3. South Sudan's weak and underdeveloped economy is heavily dependent on oil and agriculture. These . Jun 20, 2023 · “If interrupted, as recently threatened, [it] could have devastating effects on the South Sudanese economy. Mar 2, 2024 · The People’s Republic was South Sudan’s top oil customer in 2021, receiving 65. After the Sudan region was invaded in 1820 by Muḥammad ʿAlī, viceroy of Egypt under the Ottoman Empire, the southern Sudan was plundered for slaves. 0 million. S. Introduction Prior to South Sudan’s independence in 2011, researchers explored dynamics relating to the oil economy, state finances, macro-economy, livelihoods, land and trade. Jun 1, 2021 · South Sudan Economic Update, June 2021. Absolute annual change in primary energy consumption. 648 (2017 est. Nov 15, 2021 · South Sudan’s near-term outlook is for moderate economic recovery. 873 billion by gross domestic product as of 2019, and has been working with the International Monetary Fund (IMF) to implement Feb 16, 2022 · South Sudan Economic Monitor, February 2022. Juba earned $1. ) 165. Dec 2, 2022 · disseminating economic growth figures for the very thirteenth (13th) time in the National Bureau of Statistics. South Sudan Economy. Explore South Sudan economic data on Prosperity Data360. 6 trillion South Sudanese pounds in 2020. In 2022, South Sudan exported a total of $544M, making it the number 168 exporter in the world. After the announcement, the value of the South Sudanese pound (SSP), which had been pegged Dec 1, 2020 · South Sudan has suffered multiple shocks in 2020, potentially derailing an economic recovery and peace building process. EIU expects extremely high levels of instability and insecurity as a power struggle between Sudan's two leading generals and their respective military factions risks escalating into a prolonged civil war. The COVID-19 pandemic is severely disrupting South Sudan’s economy, leading to a sharp decline in projected growth (-3. Below are all indicators in our database for which this country has a value. Since 2013, over 4 million South Sudanese have been forced from their Apr 11, 2024 · The secession of South Sudan led to multiple economic shocks, including the loss of oil revenue that had accounted for more than half of the Sudan government’s revenue and 95% of its exports. 7% of the east African country’s oil exports, according to the Observatory of Economic Complexity. Real GDP per capita, which is real GDP per person, was just 649 USD South Sudanese pounds in 2020 while it has declined significantly from 835 USD in 2019 due to current economic turmoil. Most Recent Value. 1 percent contraction in South Sudan's GDP in 2021, due to oil and non-oil sector decline, COVID-19, and conflict. ) NOTE: The information regarding South Sudan on this page is re-published from the 2024 World Fact Book of the United States Central Intelligence Agency and other sources. Conflicts in December 2013 and July 2016 have undermined the development gains it achieved since independence and worsened the humanitarian situation. South Sudan is a member country of the Multilateral Investment Guarantee Agency, which helps cross-border investors and lenders deal with non-commercial and political risks. 999 (2019 est. Anyang, Feb 24, 2024(Nyamilepedia) — Unlike other economies around the globe, South Sudan`s approaches are unique in its all dimensions South Sudan is one of the newest country in the globe and Africa’s 55th nation that got its independence on 9, July 2011 after a long civil war that lasted for more than twenty-five years. With the support of the international community, Sudan has been pursuing a transformational reform agenda focused on: (i) achieving internal peace based on inclusion, regional equity, and justice; (ii) removing economic distortions and stabilizing the economy Sep 18, 2021 · South Sudan is one of the most oil-dependent countries in the world, with 98% of the government’s annual operating budget and 80% of its gross domestic product (GDP) derived from oil. Ethiopia - the second most populous country in Africa - is a one-party state with a planned economy. Quota (SDR): 246. The South Sudan economy is projected to contract by 4. 4% of GDP in the decade to 2022. The current Monitor, which has been produced after a hiatus of 2 years, is intended for a wide audience including policymakers, business leaders, the community A main argument is that its political economy is fundamentally atypical: achieving independence in 2011 and dissolving into renewed civil war in 2013, South Sudan is suffering the crisis of a weak, neo-patrimonial guerrilla government, with fragmented military-political systems that stretch across its extensive borderlands. Gross Domestic Product – GDP. South Sudan’s state revenues have plummeted as a result of a ruptured pipeline crucial for the country’s ability to export crude to foreign markets. The economy of South Sudan will remain linked All Countries and Economies. Indicator. Outstanding Purchases and Loans (SDR): 246 million (March 31, 2024) Special Drawing Rights (SDR): 9. Agriculture, forestry, and fishing South Sudan At-A-Glance. May 24, 2024 · The gross domestic product (GDP) in current prices in South Sudan was forecast to continuously increase between 2024 and 2029 by in total 3. In particular, there was a robust approach to examining the impacts of Operation Lifeline Sudan (OLS), livelihoods and Apr 1, 2024 · Sudan / April 1, 2024. Inflation: Inflation averaged 79. 9 percent as floods affected production and the Sep 9, 2021 · II. Jul 10, 2021 · South Sudan was no different. . 6 percent in FY20/21, about 10 percentage points below the pre-pandemic baseline) and a contraction of oil export proceeds—the main source Jun 1, 2012 · The economic crisis was triggered by South Sudan’s decision to shut down oil production, which accounts for 98 precent of the country’s revenue, at the end of January following a dispute with South Sudan Economic Outlook. 11 million. Dec 6, 2023 · South Sudan, which gained independence from Sudan on 9 July 2011, is the world’s newest country. Widespread corruption and an absence of political will to use public resources for public good significantly hinder South Sudan’s prospects for sustainable economic growth. 355 (2021 est. (Millions) GDP (current US$) - South Sudan from The World Bank: Data. May 31, 2024 · South Sudan, the world’s youngest nation, possesses immense potential for diversification, economic growth, and shared prosperity. South Sudan faced significant headwinds in FY2020/21, with the pandemic, floods, and violence flareups affecting economic activities. 1 percent in FY2020/21, with growth negatively affected by the impact of the COVID-19 pandemic, lower oil production, floods, and increased conflict intensity in parts of the country. This growth was driven by government investment in infrastructure, as well as Payment and time spent waiting at unauthorized check-points increases costs faced by traders, producers and consumers within South Sudan, inhibiting economic development at this critical period of South Sudan’s history. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. It accounts for 90% of public revenue. Economic. Real GDP growth for FY2021/22 is projected at 1 percent, boosted by higher oil prices. Since a peace agreement was reached in 2018, elections have been delayed; elites March 4, 2024 (JUBA) -South Sudan President Salva Kiir has addressed the pressing economic challenges brought on by the conflict in neighbouring Sudan, emphasizing the need for diversification 3 Min. Exchange rates: 306. The oil sector had driven much of Sudan's GDP growth since 1999. (2023) Access to justice for women Regimes of the World. Feb 24, 2024 · “South Sudan`s Economy, the case of young Economists, (Dr. ” South Sudanese returnees comprise more than 93 per cent of the 117,000 people entering the country while fleeing the continued fighting in Sudan, he said, adding that the absorption capacity of the Government and humanitarians is Date of Membership: April 18, 2012. On 9 July, South Sudan observed the tenth anniversary of its independence. Apr 20, 2022 · Real GDP, which we calculate using constant prices to remove the effect of inflation, was 23,444. 4 billion in oil revenues, compared with $135 million in non-oil revenues. Key issues included cultural and linguistic differences, religious tensions, economic inequalities Feb 18, 2022 · The economy had recorded a strong growth pickup before the COVID-19 pandemic, with real GDP growth estimated at 9. Oil is exported through a pipeline that runs to refineries and shipping facilities at Port Sudan on the Red Sea. 4 percent in FY23/24, reflecting drags from oil production. South Sudan Economic Update : Poverty and Vulnerability in a Fragile Environment Mar 9, 2024 · In 2022, South Sudan paid Khartoum $148 million as a cost for oil processing, transportation and transit. The United States and South Sudan ratified an Investment Incentive Agreement (IIA) in 2013 . This page provides the latest reported value for - South Sudan GDP - plus previous releases, historical high and low, short-term forecast 5 days ago · South Sudan was settled by many of its current ethnic groups during the 15th–19th centuries. South Sudan. According to Mr Makuei, the government and partners are exerting efforts to make sure that the war and flooding do not further disrupt oil output. “Because of the collective efforts of so many…South Sudan is in a better Feb 6, 2024 · 2. The latter South Sudan: A Political Economy Analysis Øystein H. Key characteristics of the economy South Sudan’s dependence on subsistence agriculture and food aid indicates that the country’s present economic state is extremely poor. Most Recent Year. 2 percent in FY 2018/19. After gaining independence South Sudan economy has been faced with a number of Dec 5, 2023 · The World Bank's latest South Sudan Economic Monitor (SSEM) reveals that South Sudan's economy experienced stagnation in fiscal year 2023 (FY23) due to the lingering impacts of flooding on oil production. South Sudan currently produces about 150,000 to 170,000 5 days ago · South Sudan. 5 billion (2017, estimate) Nov 6, 2021 · This study is carried out to investigate about the impact of inflation on South Sudan economy . The broken Aug 8, 2023 · In 2023, more than 7. Recent macroeconomic and financial developments. The GDP value of South Sudan represents 0 percent of the world economy. Since independence, South Sudan has struggled to form a viable governing system and has been plagued by widespread corruption, political conflict, and communal violence. The economy of Sudan is largely based on agriculture and oil exports, with additional revenue coming from mining and manufacturing. Ahead of its independence day on July 9th 2011, Salva Kiir, the country’s first and only president, promised his people “a just, equitable and prosperous nation Sep 18, 2021 · The economy of South Sudan will remain linked to Sudan for some time, given the existing oil infrastructure. 07 billion (2016) International Monetary Fund (IMF), data retrieved October 2019. More than a decade of fighting has resulted in South Sudan being the largest refugee crisis in Africa. The aims of this study to know the impact of inflation on south Sudan economy and money supply. South Sudan is among the poorest and least-developed countries in the world. South Sudan has identified other export products aside from oil Abstract. After contracting for four consecutive years since FY2014/15, the economy is estimated to have recovered with a growth rate of 3. South Sudan is a member of the Common Market for Eastern and Southern Africa (COMESA). Almost four-fifths of its inhabitants depend on farming or animal husbandry for their livelihoods. Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years. Find out more on our dedicated page. South Sudan Economic Update, February 2020: Poverty and Vulnerability in a Fragile Environment. Oil production declined to 156,000 barrels a day in 2021/22 from 169,000 in 2020/21 after several oilfields were damaged by floods. Consequently, the economy is estimated to have contracted by 5. South Sudan’s transformation from conflict to recovery is underway, but much needs to be done before securing “a peaceful and prosperous future”, the UN Special Representative to the country told the Security Council on Tuesday. Nov 24, 2021 · The workshop will capture contributions from the different sectors of Blue Economy for the national economic development of South Sudan. South Sudan became independent in 2011, but Sudan and South Sudan have yet to fully implement security and economic agreements to The government of South Sudan announced on Tuesday, December 15 the floating of the country’s currency. In his address to the nation, the President of South Sudan, Salva Kiir, noted Jun 27, 2024 · Economy. South Sudan has a population of approximately 11 million [185] [186] and a predominantly rural, subsistence economy. Oil production declined by 5. (2021) Absolute number of deaths from ambient particulate air pollution. 07 US dollars. 9 percent as floods affected production and the COVID-19 pandemic delayed new Mar 29, 2024 · March 29, 2024 at 12:43 AM PDT. Sep 14, 2016 · September 14, 2016 11:45 am (EST) Five years after gaining independence, South Sudan is gripped by a civil war that has killed an estimated 50,000 and displaced 1. China has longstanding oil relations with South Sudan that predate the succession from Sudan. With the economic decline in FY2020/21, living conditions have CSRF Meta-Analysis: Economy in South Sudan . 386 (2018 est. As South Sudan struggles to fix its ailing economy, plans are underway to diversify from being oil-dependent. 9% in 2021/22, after contracting 4. South Sudan gained independence from Sudan in 2011. However, according to the World Bank’s latest Economic Update for South Sudan, the economy is still affected by high inflation which stood at 170 percent in October 2019. South Sudan is one of the most oil-dependent countries in the world, with 98% of the government’s annual operating budget and 80% of its gross domestic product (GDP) derived from oil. The outbreak of conflict in December 2013, combined with falling crude oil production and prices, meant that GDP fell significantly between 2014 and 2017. Consequently, South Sudan remains severely impacted by fragility, economic Nov 12, 2020 · General Overview. ) 141. 1. The FY21 budget seeks to stabilize the economy, provide basic services, consolidate peace, and address Coronavirus (COVID-19) effects. South Sudan became the world’s newest nation and Africa’s 55th country on July 9, 2011. The country’s GDP per capita in 2014 was $1,111 dropping to less than $200 in 2017. The United States and South Sudan ratified an Investment Incentive Agreement (IIA) in 2013. Africa’s largest refugee crisis got more complicated in 2023. However, due to falling oil prices in the global market, and February 28, 2024 (JUBA) – South Sudan’s government warned that the country’s economy could collapse without immediate intervention to address issues with its oil pipelines. To read more about GDP growth in South Sudan, go to our dedicated page. South Sudan economy rankings: GDP - 138, personal freedom index - 194, GPD per capita - 168, economic freedom index - 188, population - 75 Oct 6, 2021 · A violent contest for power, partly driven by the political elites’ desire to control the country’s oil revenues, has exacerbated its deep ethno-political and regional divisions. Country Profile: South Sudan 8 3. The linchpin of South Sudan’s economy, oil accounts for 85 per cent of government revenue and over 94 per cent of exports. Dec 28, 2021 · The Government of South Sudan relies on oil for the vast majority of its budget revenues, although oil production has fallen sharply since independence. Country. 6 million. Currently there are no DFC projects in South Sudan. The compilation of these figures is a significant achievement because they will be an extremely Apr 2, 2020 · JUBA, April 2, 2020 - After a four-year contraction, South Sudan’s economy appears to be recovering and reached 3. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor South Sudanese pounds (SSP) International Reserves. Economic growth: The economy recorded average annual growth of 5. During the last five reported years the exports of South Sudan have changed by -$802M from $1. A national vaccination campaign has made some progress distributing COVID-19 vaccines, supported by the World Bank and COVAX. Alic Garang), Hunters sent to the hunting fields without tools and means, will always come back without meat”. 907 (2020 est. For nearly a decade, the economy boomed on the back of rising oil production, high oil South Sudanese pounds (SSP) per US dollar -. 9 billion (2018, estimate) GDP (Purchasing Power Parity) Intl$ 19. How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. Bak Barnaba and Dr. Sudan had $30. The SSEM report emphasizes the importance of investing in human capital development as a foundation for economic growth, particularly in light of the low literacy rate in South Sudan. 5M. James Alic Garang, Governor of the Central Bank of South Sudan, disclosed that the bank, in collaboration with the Ministry of Finance and other relevant institutions, is Data for Sudan, South Sudan from The World Bank: Data. 5% in FY2019/20. Gross Domestic Product (GDP) of South Sudan 2021: in 2020, GDP for South Sudan was 4. USD 3. xn vt gj bg mp tp rd ia jp mk