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Economy of South Sudan

South Sudan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, South Sudan may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, South Sudan exports around $2.26 billion and imports roughly $0.424 billion. 11.5% of population in the country are unemployed. The total number of unemployed people in South Sudan is 1,485,691. In South Sudan, 50.6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in South Sudan is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. The Gini Index of the country is 46. South Sudan is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. The Global Peace Index (GPI) for South Sudan is 3.383. The strength of legal rights index for South Sudan is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of South Sudan is South Sudanese pound. The plural form of the word South Sudanese pound is pounds. The symbol used for this currency is £, and it is abbreviated as SSP. The South Sudanese pound is divided into Piastre; there are 100 in one pound.

Credit rating

Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of South Sudan.

Central bank

In South Sudan, the institution that manages the state's currency, money supply, and interest rates is called Bank of South Sudan. The average deposit interest rate offered by local banks in South Sudan is 13.5%.

Public debt

South Sudan has a government debt of 92.6% of the country's Gross Domestic Product (GDP), as assessed in 2010.

Tax information

The corporate tax in South Sudan is set at 15%. Personal income tax ranges from 0% to 15%, depending on your specific situation and income level. VAT in South Sudan is 15%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in South Sudan is $23496 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in South Sudan was last recorded at $2 million. PPP in South Sudan is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in South Sudan is 11,804 billion. Based on this statistic, South Sudan is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in South Sudan was last recorded at $1 million. The average citizen in South Sudan has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in South Sudan averaged -12.3% in 2014. According to this percentage, South Sudan is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment. To read more about financial information click on finances of South Sudan.

Industry

Major industries in the country are petroleum, iron ore, copper, chromium ore, zinc, tungsten, mica, silver, gold, hydropower, cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, and sesame. The total labor force of South Sudan is 5,305,850 people, wherein 11.5% of population in the country are unemployed. The total number of unemployed people in South Sudan is 1,485,691. To read more about industrial information within South Sudan click on industry of South Sudan.

Agriculture

To read more about agriculture click on agriculture of South Sudan.