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Economy of Sudan

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, 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, Sudan exports around $4.14 billion and imports roughly $5.94 billion. 12.8% of population in the country are unemployed. The total number of unemployed people in Sudan is 5,313,475. In Sudan, 46.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in 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. Government expenditure on education is 27.8% of GDP. The Gini Index of the country is 51. Sudan is experiencing inequality. The gap between the richest and poorest citizens in this country is significant and obvious, resulting in a drastically different standard of living for rich and poor citizens. Sudan has a Human Development Index (HDI) of 0.473. Sudan has a lower medium HDI score. This indicates that the majority of citizens will struggle to attain a desirable life due to flawed economic and social systems. The Global Peace Index (GPI) for Sudan is 3.295. The strength of legal rights index for Sudan is 3. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.

Currency

The currency of Sudan is Sudanese pound. The plural form of the word Sudanese pound is pounds. The symbol used for this currency is ج.س., and it is abbreviated as SDG. The 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 Sudan.

Central bank

In Sudan, the institution that manages the state's currency, money supply, and interest rates is called Bank of Sudan. Locally, the central bank of Sudan is called بنك السودان. The average deposit interest rate offered by local banks in Sudan is 13%.

Public debt

Sudan has a government debt of 89.3% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Sudan is set at 15%. Personal income tax ranges from 15% to 20%, depending on your specific situation and income level. VAT in Sudan is 15%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Sudan is $160189 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Sudan was last recorded at $4 million. PPP in 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 Sudan is 54,595 billion. Based on this statistic, 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 Sudan was last recorded at $1 million. The average citizen in 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 Sudan averaged 3% in 2014. According to this percentage, Sudan is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Sudan.

Industry

Major industries in the country are oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum refining, pharmaceuticals, armaments, automobile/light truck assembly. The total labor force of Sudan is 11,149,650 people, wherein 12.8% of population in the country are unemployed. The total number of unemployed people in Sudan is 5,313,475. The Industrial Production growth rate of Sudan is 11%.To read more about industrial information within Sudan click on industry of Sudan.

Agriculture

There are 135600 km2 of arable land in Sudan, There are 139000 km2 of cultivated land in Sudan. The country's major agricultural crops and products are cotton, groundnuts, sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame, sheep, livestock.To read more about agriculture click on agriculture of Sudan.