The country’s GDP will continue rising for the next two years, from 2.6 per cent in 2018 to 3.1 per cent in … Sudan is attempting to develop non-oil sources of revenues, such as gold mining and agriculture, while carrying out an austerity program to reduce expenditures. Macroeconomic performance and outlook Real GDP growth was an estimated 5.8% in 2019, a large increase from 0.5% in 2018. The current account deficit improved to 7.8% of GDP in 2019 from 13.6% in 2018. The oil sector had driven much of Sudan's GDP growth since 1999. 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. The oil sector remains the key driver of the economy, followed by services and … Real GDP contracted in 2019 by an estimated 2.4% driven by a contraction in the services sector and investment in real estate and business services. As the world’s largest producer of gum arabic, Sudan will continue to depend on agriculture (32% of GDP in 2019) to boost its exports, generate foreign exchange, and reduce the current account deficit.Sudan is in debt distress, reducing its capacity to mobilize domestic resources or to borrow from international markets. The private sector is constrained by limited access to finance, a low-skilled labor force, and an inadequate legal and regulatory framework. The 2019 rebound was driven mainly by reopening some oil fields, including those in Upper Nile state, and resuming production, and by the peace agreement signed in September 2018. Sudan began exporting crude oil in the last quarter of 1999. The worldâs largest exporter of gum Arabic, Sudan produces 75-80% of the worldâs total output. Ongoing conflicts in Southern Kordofan, Darfur, and the Blue Nile states, lack of basic infrastructure in large areas, and reliance by much of the population on subsistence agriculture, keep close to half of the population at or below the poverty line.Sudan was subject to comprehensive US sanctions, which were lifted in October 2017. Agriculture, accounting for 32% of GDP, also contracted in 2019, due to shortages of inputs—especially fuel. Its overall score has decreased by 2.7 points due to a substantial drop in the fiscal health score. For nearly a decade, the economy boomed on the back of rising oil production, high oil prices, and significant inflows of foreign direct investment. Sudan also faces high inflation, which reached 47% on an annual basis in November 2012 but fell to about 35% per year in 2017. cotton, groundnuts (peanuts), sorghum, millet, wheat, gum Arabic, sugarcane, cassava (manioc, tapioca), mangoes, papaya, bananas, sweet potatoes, sesame seeds; animal feed, sheep and other livestock oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly, milling gold; oil and petroleum products; cotton, sesame, livestock, peanuts, gum Arabic, sugar UAE 55.5%, Egypt 14.7%, Saudi Arabia 8.8% foodstuffs, manufactured goods, refinery and transport equipment, medicines, chemicals, textiles, wheat UAE 12.7%, Egypt 10.6%, India 10.5%, Turkey 10.2%, Japan 7.6%, Saudi Arabia 6%, Germany 4.6% Sudanese pounds (SDG) per US dollar - 2) The rank that you see is the CIA reported rank, which may have the following issues: a) They assign increasing rank number, alphabetically for … The country has a subsoil rich in oil, iron ore, copper, chromium, zinc, tungsten, mica, silver and gold. Agriculture continues to employ 80% of the work force.Sudan introduced a new currency, still called the Sudanese pound, following South Sudan's secession, but the value of the currency has fallen since its introduction. Despite being endowed with a lot of natural resources including very fertile agricultural land and vast number of livestock of over 60 million cattle, sheep and goats.