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Economy - overview:
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Niger is one of
the poorest countries in the world, a landlocked Sub-Saharan
nation, whose economy centers on subsistence crops, livestock,
and some of the world's largest uranium deposits. Drought
cycles, desertification, a 3.3% population growth rate, and the
drop in world demand for uranium have undercut the economy.
Niger shares a common currency, the CFA franc, and a common
central bank, the Central Bank of West African States (BCEAO),
with seven other members of the West African Monetary Union. In
December 2000, Niger qualified for enhanced debt relief under
the International Monetary Fund program for Highly Indebted Poor
Countries (HIPC) and concluded an agreement with the Fund on a
Poverty Reduction and Growth Facility (PRGF). Debt relief
provided under the enhanced HIPC initiative significantly
reduces Niger's annual debt service obligations, freeing funds
for expenditures on basic health care, primary education,
HIV/AIDS prevention, rural infrastructure, and other programs
geared at poverty reduction. Nearly half of the government's
budget is derived from foreign donor resources. Future growth
may be sustained by exploitation of oil, gold, coal, and other
mineral resources. |
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GDP:
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purchasing power
parity - $9.716 billion (2004 est.) |
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GDP - real growth rate:
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3.5% (2004 est.)
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GDP - per capita:
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purchasing power
parity - $900 (2004 est.) |
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GDP - composition by sector:
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agriculture:
39%
industry: 17%
services: 44% (2001) |
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Population below poverty line:
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63% (1993 est.)
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Household income or consumption by percentage share:
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lowest 10%:
0.8%
highest 10%: 35.4% (1995) |
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Distribution of family income - Gini index:
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50.5 (1995) |
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Inflation rate (consumer prices):
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3% (2002 est.)
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Labor force:
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70,000 receive
regular wages or salaries (2002 est.) |
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Labor force - by occupation:
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agriculture 90%,
industry and commerce 6%, government 4% |
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Unemployment rate:
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NA (2002 est.)
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Budget:
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revenues:
$320 million - including $134 million from foreign sources
expenditures: $320 million, including capital
expenditures of $178 million (2002 est.) |
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Agriculture - products:
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cowpeas, cotton,
peanuts, millet, sorghum, cassava (tapioca), rice; cattle,
sheep, goats, camels, donkeys, horses, poultry |
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Industries:
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uranium mining,
cement, brick, soap, textiles, food processing, chemicals,
slaughterhouses |
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Industrial production growth rate:
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NA (2001 est.)
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Electricity - production:
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266.2 million kWh
(2002) |
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Electricity - production by source:
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fossil fuel:
100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
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Electricity - consumption:
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327.6 million kWh
(2002) |
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Electricity - exports:
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0 kWh (2002)
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Electricity - imports:
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80 million kWh
(2002) |
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Oil - production:
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0 bbl/day (2001
est.) |
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Oil - consumption:
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5,000 bbl/day
(2001 est.) |
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Oil - exports:
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NA |
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Oil - imports:
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NA |
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Exports:
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$280 million
f.o.b. (2002 est.)
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Exports - commodities:
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uranium ore,
livestock, cowpeas, onions |
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Exports - partners:
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France 47.1%,
Nigeria 22.7%, Japan 8.6%, US 5.4% (2004) |
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Imports:
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$400 million
f.o.b. (2002 est.)
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Imports - commodities:
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foodstuffs,
machinery, vehicles and parts, petroleum, cereals |
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Imports - partners:
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France 17.4%,
Cote d'Ivoire 11.3%, Italy 8.4%, Nigeria 7.3%, Germany 6.5%, US
5.5%, China 4.8% (2004) |
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Debt - external:
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$1.6 billion
(1999 est.) |
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Economic aid - recipient:
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$341 million
(1997) |
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Currency:
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Communaute
Financiere Africaine franc (XOF); note - responsible authority
is the Central Bank of the West African States |
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Currency code:
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XOF |
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Exchange rates:
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Communaute
Financiere Africaine francs (XOF) per US dollar - 528.29 (2004),
581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000) |
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Fiscal year:
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calendar year
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