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Niger Economy 1996

Overview:

Niger is one of the world's poorest countries, with GDP growth lagging behind the rapid growth of population. The economy is centered on subsistence agriculture, animal husbandry, and reexport trade, and increasingly less on uranium, its major export throughout the 1970s and 1980s. Uranium revenues dropped by almost 50% between 1983 and 1990 with the end of the uranium boom. Terms of trade with Nigeria, Niger's largest regional trade partner, have improved dramatically since the 50% devaluation of the African franc in January 1994; this devaluation boosted exports of livestock, peas, onions, and the products of Niger's small cotton industry. The government relies on bilateral and multilateral aid for operating expenses and public investment and is strongly induced to adhere to structural adjustment programs designed by the IMF and the World Bank.

National product:

GDP - purchasing power parity - $4.6 billion (1993 est.)

National product real growth rate:

1.4% (1993 est.)

National product per capita:

$550 (1994 est.)

Inflation rate (consumer prices):

NA%

Unemployment rate:

NA%

Budget:

revenues:

$188 million

expenditures:

$400 million, including capital expenditures of $125 million (1993 est.)

Exports:

$246 million (f.o.b., 1993 est.)

commodities:

uranium ore 67%, livestock products 20%, cowpeas, onions

partners:

France 77%, Nigeria 8%, Cote d'Ivoire, Italy

Imports:

$286 million (c.i.f., 1993 est.)

commodities:

consumer goods, primary materials, machinery, vehicles and parts, petroleum, cereals

partners:

France 23%, Cote d'Ivoire, Germany, Italy, Japan

External debt:

$1.2 billion (December 1991 est.)

Industrial production:

growth rate -2.7% (1992 est.); accounts for 15% of GDP

Electricity:

capacity:

60,000 kW

production:

200 million kWh

consumption per capita:

42 kWh (1992)

Industries:

cement, brick, textiles, food processing, chemicals, slaughterhouses, and a few other small light industries; uranium mining began in 1971

Agriculture:

accounts for roughly 40% of GDP and 90% of labor force; cash crops - cowpeas, cotton, peanuts; food crops - millet, sorghum, cassava, rice; livestock - cattle, sheep, goats; self-sufficient in food except in drought years

Economic aid:

recipient:

US commitments, including Ex-Im (FY70-89), $380 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $3.165 billion; OPEC bilateral aid (1979-89), $504 million; Communist countries (1970-89), $61 million

Currency:

1 CFA franc (CFAF) = 100 centimes

Exchange rates:

Communaute Financiere Africaine francs (CFAF) per US$1 - 529.43 (January 1995), 555.20 (1994), 283.16 (1993), 264.69 (1992), 282.11 (1991), 272.26 (1990)

note:

the official rate is pegged to the French franc, and beginning 12 January 1994, the CFA franc was devalued to CFAF 100 per French franc from CFAF 50 at which it had been fixed since 1948

Fiscal year:

1 October - 30 September

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