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Business images of Sudan

Economy of Sudan

The economy of Sudan is primarily driven by agriculture and oil exports, supplemented by revenue from mining and manufacturing. As of 2019, its gross domestic product stood at $30.873 billion. Collaborating with the International Monetary Fund (IMF), Sudan has been undertaking macroeconomic reforms, including implementing a managed float of the exchange rate. Agriculture remains a vital sector, employing 80% of the workforce and contributing one-third to the GDP.

Top Sectors in Sudan

Agriculture in Sudan

Primary resources in Sudan are agricultural, including cotton, peanuts, gum arabic, and sesame seeds. Despite efforts to diversify cash crops, cotton and peanuts remain the major agricultural exports. Grain sorghum (dura) is the primary food crop, while wheat is cultivated for domestic consumption. Sesame seeds and peanuts are grown for both domestic use and increasingly for export. Three main agricultural sub-sectors are active in Sudan: pastoral livestock, cropping, and fish production. Livestock production, particularly of cows, sheep, and camels, has significant potential, with many animals exported to Saudi Arabia and other Arab countries. Sudan is often considered one of the world's potential breadbaskets, earning the nickname "Arab world food basket" as it possesses 45% of the arable land in the Arab world. Cotton is the principal export crop and a vital component of Sudan's economy. Sudan ranks as the world's third-largest producer of sesame after India and China.

Industry in Sudan

Sudan's industrial development includes agricultural processing, electronics assembly, plastics manufacturing, furniture production, tanning, sugar production, and various light industries concentrated in the 10 industrial areas in Khartoum. With many countries relying on Sudan for medicines and medical services, the country is positioning itself as a hub for the medical industry in East Africa, attracting investments and covering about 70% of regional needs while also exporting to neighboring nations. Sudan is known for its abundant mineral resources, with extensive exploration for gold, which yields nearly 30 tons annually, significantly boosting the nation's foreign exchange reserves with investments from around the world. Asbestos, chromium, mica, kaolin, and copper are also commercially exploited, particularly for export to China.

Petroleum in Sudan

Today, oil is a crucial export industry, accounting for a substantial portion of Sudan's total exports. Major importers of Sudanese oil include Japan, China, South Korea, Indonesia, and India. Oil fields in the south, such as those at Heglig and in the South Sudanese state of Unity, are connected to refineries via pipelines. The Greater Nile Oil Pipeline spans 1,600 kilometers from the Unity oil field to Port Sudan on the Red Sea via Khartoum, while the PetroDar pipeline extends 1,380 kilometers from the Palogue oil field in the Melut Basin to Port Sudan.

Transport in Sudan

Sudan hosts two trans-African automobile routes: the Cairo-Cape Town Highway from north to south and the N'Djamena-Djibouti Highway from west to east. The country possesses 4,725 kilometers of narrow-gauge, single-track railroads, primarily serving the northern and central regions. A main line runs from Wadi Halfa on the Egyptian border to Khartoum and southwest to Al Ubayyid via Sannar and Kusti. Other lines connect Atbarah and Sannar with Port Sudan, and Sannar with Ad Damazin.

Energy in Sudan

The country seeks to expand its electricity generation capacity, with around 300 MW installed, 180 MW of which is hydroelectric. European investors are potential technology providers for this purpose. The Roseires Dam on the Blue Nile grid contributes over 70% of Sudan's hydropower.


Sudan - Key Economic Indicators

Exports & Imports

Sudan's economy relies heavily on exports of oil and agricultural products like gold, gum arabic, and sesame seeds. However, recent political instability and the secession of South Sudan significantly impacted export revenue. Primary imports include machinery, food, and manufactured goods. Sudan typically runs a trade deficit, with imports exceeding exports.

Balance of Trade

The trade deficit is a major challenge for Sudan. The government is working to diversify exports, develop new markets, and increase domestic production to reduce reliance on imports and achieve a more balanced trade picture.

Fiscal Policy

Sudan's fiscal situation is strained due to high government spending, low tax collection, and a large public debt burden. The government is implementing austerity measures to reduce spending and increase revenue. Efforts are also underway to improve tax collection efficiency.

Monetary Policy

The Central Bank of Sudan (CBoS) is responsible for monetary policy. A key challenge is controlling inflation, which has been persistently high in recent years. The CBoS uses tools like interest rate adjustments and currency management to curb inflation and promote economic stability.

Trade Agreements

Sudan participates in several regional trade agreements, including the COMESA (Common Market for Eastern and Southern Africa) and the Arab League. These agreements offer some access to preferential trade terms with member countries. However, political instability and sanctions have limited Sudan's ability to fully benefit from these agreements.

Tax system

Capital gains tax: Information on a specific capital gains tax in Sudan is limited. Taxation of investment income may be integrated into the income tax system.
Corporate tax rate: The standard corporate tax rate in Sudan is 28%. However, lower rates may apply to specific sectors or businesses operating in free zones.
Sales tax (Value Added Tax - VAT): Sudan has a Value Added Tax (VAT) of 17%, applied to most goods and services. Exemptions may exist for essential items.
Property tax: Property taxes in Sudan vary depending on the location and type of property. Rates are generally considered low, typically ranging from 0.2% to 0.4% of the property's value.
Payroll tax: Social security contributions in Sudan are funded through a payroll tax system. Contributions are used for pensions and unemployment benefits: (i) Employee contribution: Around 10% (pension) and 2% (unemployment) (ii) Employer contribution: Around 21% (pension) and 4% (unemployment)
Tax deductions and credits: Information on specific tax deductions and credits offered in Sudan is limited. There may be some deductions for business expenses or investment in certain sectors.
Tax burden: The overall tax burden in Sudan is considered moderate compared to some developed countries. However, a significant portion of government revenue comes from oil exports, leading to fluctuations and a desire for a more diversified tax base.

44 Live Notices for Sudan ....

Showing 1 to 20

National Ic For In-Depth Analysis Of Low Genexpert Underutilization.
country Sudan
posting date19 Nov 2024
deadline03 Dec 2024
National Ic For Gender And Human Rights Assessment For Hiv/Tb Services Sudan
country Sudan
posting date19 Nov 2024
deadline03 Dec 2024
Request For Quotation (Rfq) For Supply & Delivery Of Health Consumable Items Kits To Iom Warehouse In Port Sudan
country Sudan
posting date19 Nov 2024
deadline20 Nov 2024
072-2024-Rfq- Undss- Supply And Delivery And Installation Of Furniture In Undss
country Sudan
posting date18 Nov 2024
deadline27 Nov 2024
073-2024-Rfq- Undss- Supply, Installation, And Testing Of Two Generators At Unds
country Sudan
posting date18 Nov 2024
deadline27 Nov 2024
Local Tender For The Supply And Delivery Of Fire Buckets And Solar Lights To Unhcr Port Sudan Warehouse
country Sudan
posting date18 Nov 2024
deadline26 Nov 2024
Local Tender Supply And Delivery (Ddp-Gedaref) Of Airconditions Split To Unhcr Gedaref Office
country Sudan
posting date18 Nov 2024
deadline25 Nov 2024
Local Tender Supply And Delivery (Ddp-Gedaref) Of Assorted Electric Appliances & Furniture To Unhcr Gadarif Office
country Sudan
posting date18 Nov 2024
deadline25 Nov 2024
Renal Dialysis Supplies- Sudan
country Sudan
posting date18 Nov 2024
deadline20 Nov 2024
Request For Strategy And Policy Framework (Policy Brief And Implementation) In Gedaref
country Sudan
posting date18 Nov 2024
deadline28 Nov 2024
073-2024-Rfq- Undss- Supply, Installation, And Testing Of Two Generators At Unds
country Sudan
posting date18 Nov 2024
deadline27 Nov 2024
072-2024-Rfq- Undss- Supply And Delivery And Installation Of Furniture In Undss
country Sudan
posting date18 Nov 2024
deadline27 Nov 2024
Tender For Supply And Delivery Of Tents To The Industrial Camp In Port Sudan Area, Gedaref City And Abu Al-Naja Al-Qawamah In Central Gedaref Area
country Sudan
posting date18 Nov 2024
deadline21 Nov 2024
Tender For Supply And Delivery Of Safe Storage Rounds For Damazin Office In Blue Nile
country Sudan
posting date18 Nov 2024
deadline24 Nov 2024
Tender For The Supply And Delivery Of Vital Medicines, Consumables And Anesthetic Materials - Ministry Of Health - Red Sea State
country Sudan
posting date18 Nov 2024
deadline24 Nov 2024
Solar System For Mc Kassala Office
country Sudan
posting date18 Nov 2024
deadline20 Nov 2024
Drilling 2 Boreholes And Pumping Test Including Water Samples Analysis In (Katroum, Galol) Nertitiwest Jabal Marra Locality
country Sudan
posting date18 Nov 2024
deadline24 Nov 2024
Geological, Hydrogeological, And Geophysical Survey Of 5 Locations In North, Central, West. J. Marra (Rokero-Golo-Nertiti) Localities, Central Darfur State
country Sudan
posting date18 Nov 2024
deadline24 Nov 2024
Shipment Of Medical Cargo From Port Sudan To Nyala
country Sudan
posting date18 Nov 2024
deadline18 Nov 2024
Call Of Audit Service For Project Light Up Your Future’: Socio-Economic Empowerment Of Young Refugees In Sudan Through Sustainable Energy Solutions Funded By The Islamic Development Bank
country Sudan
posting date15 Nov 2024
deadline19 Nov 2024

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