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    Niger Index 2006

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    Niger Economy - 2006

      Economy - overview:
      Niger is one of the poorest countries in the world, ranking 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, a 2.9% population growth rate, and the drop in world demand for uranium 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, it was announced that Niger had received 100% multilateral debt relief from the IMF, which translates into the forgiveness of approximately $86 million USD 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 recovered somewhat in the last few years. A drought and locust infestation in 2005 led to food shortages for as many as 2.5 million Nigerians.

      GDP (purchasing power parity):
      $10.22 billion (2005 est.)

      GDP (official exchange rate):
      $3.427 billion (2005 est.)

      GDP - real growth rate:
      3.8% (2005 est.)

      GDP - per capita (PPP):
      $800 (2005 est.)

      GDP - composition by sector:
      agriculture: 39%
      industry: 17%
      services: 44% (2001)

      Labor force:
      70,000 salaried workers, 60% of whom are employed in the public sector (2002 est.)

      Labor force - by occupation:
      agriculture: 90%
      industry: 6%
      services: 4%

      Unemployment rate:

      Population below poverty line:
      63% (1993 est.)

      Household income or consumption by percentage share:
      lowest 10%: 0.8%
      highest 10%: 35.4% (1995)

      Distribution of family income - Gini index:
      50.5 (1995)

      Inflation rate (consumer prices):
      0.2% (2004 est.)

      revenues: $320 million - including $134 million from foreign sources
      expenditures: $320 million; including capital expenditures of $178 million (2002 est.)

      Agriculture - products:
      cowpeas, cotton, peanuts, millet, sorghum, cassava (tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry

      uranium mining, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses

      Industrial production growth rate:
      5.1% (2003 est.)

      Electricity - production:
      230 million kWh (2003)

      Electricity - consumption:
      263.9 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      50 million kWh (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      5,400 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      $222 million f.o.b. (2004 est.)

      Exports - commodities:
      uranium ore, livestock, cowpeas, onions

      Exports - partners:
      France 41%, Nigeria 22.4%, Japan 15.3%, Switzerland 6%, Spain 4.1%, Ghana 4% (2004)

      $588 million f.o.b. (2004 est.)

      Imports - commodities:
      foodstuffs, machinery, vehicles and parts, petroleum, cereals

      Imports - partners:
      France 14.4%, US 10.3%, French Polynesia 9.4%, Nigeria 7.8%, Cote d'Ivoire 7.5%, Japan 5.2%, China 5.1%, Thailand 4.1% (2004)

      Debt - external:
      $2.1 billion (2003 est.)

      Economic aid - recipient:
      $453.3 million (2003)

      Currency (code):
      Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States (BCEAO)

      Exchange rates:
      Communaute Financiere Africaine francs (XOF) per US dollar - 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001)

      Fiscal year:
      calendar year

      NOTE: The information regarding Niger on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2006 information contained here. All suggestions for corrections of any errors about Niger Economy 2006 should be addressed to the CIA.

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    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)