Economy - overview Niger is a poor, landlocked Sub-Saharan nation, whose economy centers on subsistence agriculture, animal husbandry, reexport trade, and increasingly less on uranium, because of declining world demand. The 50% devaluation of the West African franc in January 1994 boosted exports of livestock, cowpeas, onions, and the products of Niger's small cotton industry. The government relies on bilateral and multilateral aid - which was suspended following the April 1999 coup d'etat - for operating expenses and public investment. In 2000-01, the World Bank approved a structural adjustment loan of $105 million to help support fiscal reforms. However, reforms could prove difficult given the government's bleak financial situation. The IMF approved a $73 million poverty reduction and growth facility for Niger in 2000 and announced $115 million in debt relief under the Heavily Indebted Poor Countries (HIPC) initiative.

GDP purchasing power parity - $8.4 billion (2001 est.)

GDP - real growth rate 3.1% (2001 est.)

GDP - per capita purchasing power parity - $820 (2001 est.)

GDP - composition by sector
agriculture: 41%
industry: 17%
services: 42% (2000)

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) 4.2% (2001 est.)

Labor force 70,000 receive regular wages or salaries

Labor force - by occupation agriculture 90%, industry and commerce 6%, government 4%

Unemployment rate NA%

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

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

Industrial production growth rate NA%

Electricity - production 220 million kWh (2000)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 404.6 million kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 200 million kWh (2000)

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

Exports $246 million (f.o.b., 2001 est.)

Exports - commodities uranium ore 65%, livestock products, cowpeas, onions (1998 est.)

Exports - partners France 43.4%, Nigeria 35.0%, Spain 4.5%, US 3.9% (2000)

Imports $331 million (f.o.b., 2001 est.)

Imports - commodities consumer goods, primary materials, machinery, vehicles and parts, petroleum, cereals

Imports - partners France 16.8%, Cote d'Ivoire 13.4%, US 9.6%, Nigeria 7.6% (2000)

Debt - external $1.6 billion (1999 est.)

Economic aid - recipient $341 million (1997)
note: the IMF approved a $73 million poverty reduction and growth facility for Niger in 2000 and announced $115 million in debt relief under the Heavily Indebted Poor Countries (HIPC) initiative

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

Currency code XOF

Exchange rates Communaute Financiere Africaine francs (XOF) per US dollar - 742.79 (January 2002), 733.04 (2001), 711.98 (2000), 615.70 (1999), 589.95 (1998), 583.67 (1997); note - from 1 January 1999, the XOF is pegged to the euro at a rate of 655.957 XOF per euro

Fiscal year calendar year

NOTE: The information regarding Niger on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2002 information contained here. All suggestions for corrections of any errors about Niger Economy 2002 should be addressed to the CIA.