Niger - Economy
How is the economy of Niger? Based on the information we have, Niger has a low-income Sahel economy; major instability and humanitarian crises limit economic activity; COVID-19 eliminated recent antipoverty gains; economy rebounding since December 2020 Nigerian border reopening and new investments; uranium resource rich. Key agricultural products in this country include: millet, cowpeas, sorghum, onions, milk, groundnuts, sugarcane, cabbages, cassava, potatoes (2022).
More about the economy of Niger
Labor force 10.237 million (2023 est.)
Industrial production growth rate 2.9% (2023 est.)
Industries uranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses
Population below poverty line 40.8% (2018 est.)
Taxes and other revenues 21.4% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2023 606.57 (2023 est.)
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Exchange rates 2019 585.911 (2019 est.)
Debt - external
Debt - external 2022 $3.688 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 31 December 2017 $1.314 billion (31 December 2017 est.)
Reserves of foreign exchange and gold 31 December 2016 $1.186 billion (31 December 2016 est.)
Current account balance
Current account balance 2022 -$2.5 billion (2022 est.)
Current account balance 2021 -$2.099 billion (2021 est.)
Current account balance 2020 -$1.816 billion (2020 est.)
Public debt
Public debt 2017 45.3% of GDP (2017 est.)
Budget
Revenues $2.325 billion (2019 est.)
Expenditures $2.785 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 3.15% of GDP (2023 est.)
Remittances 2022 4.7% of GDP (2022 est.)
Remittances 2021 2.37% of GDP (2021 est.)
Household income
Lowest 10% 3.8% (2021 est.)
Highest 10% 27.8% (2021 est.)
Imports
Imports 2022 $4.194 billion (2022 est.)
Imports 2021 $4.027 billion (2021 est.)
Imports 2020 $3.542 billion (2020 est.)
Imports (partners) China 22%, France 14%, Nigeria 8%, Germany 5%, UAE 5% (2022)
Comodities Imports force weapons parts and accessories, rice, aircraft, tobacco, iron pipes (2022)
Exports
Imports 2022 $4.194 billion (2022 est.)
Imports 2021 $4.027 billion (2021 est.)
Imports 2020 $3.542 billion (2020 est.)
Exports (partners) UAE 69%, France 9%, China 9%, Nigeria 3%, Mali 2% (2022)
Comodities Exports force gold, oil seeds, radioactive chemicals, refined petroleum, uranium and thorium ore (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $44.561 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $43.474 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $38.851 billion (2021 est.)
GDP (official exchange rate) $16.819 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $1,600 (2023 est.)
Real GDP per capita 2022 $1,700 (2022 est.)
Real GDP per capita 2021 $1,500 (2021 est.)
GDP - composition, by sector of origin
Agriculture 47.8% (2023 est.)
Industry 20.2% (2023 est.)
Services 26.9% (2023 est.)
GDP - composition, by end use
Household consumption 72% (2021 est.)
Government consumption 17.3% (2021 est.)
Investment in fixed capital 26.4% (2023 est.)
Exports of goods and services 8.8% (2023 est.)
Imports of goods and services -21.6% (2023 est.)
Unemployment rate
Unemployment rate 2023 0.55% (2023 est.)
Unemployment rate 2022 0.55% (2022 est.)
Unemployment rate 2021 0.82% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 0.8% (2023 est.)
Male 0.9% (2023 est.)
Female 0.8% (2023 est.)
All Important Facts about Niger

Want to know more about Niger? Check all different factbooks for Niger below.

Niger is found in Western Africa