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 31 December 2017 | $3.728 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $2.926 billion (31 December 2016 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 | 41.6% (2017 est.) |
| Industry | 19.5% (2017 est.) |
| Services | 38.7% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 70.2% (2017 est.) |
| Government consumption | 9.4% (2017 est.) |
| Investment in fixed capital | 38.6% (2017 est.) |
| Investment in inventories | 0% (2017 est.) |
| Exports of goods and services | 16.4% (2017 est.) |
| Imports of goods and services | -34.6% (2017 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.
