Economy of Niger

Economy Of Niger

The economy of Niger is based largely upon internal markets, subsistence agriculture, and the export of raw commodities: food stuffs to neighbors and raw minerals to world markets. Niger, is a landlocked Sub-Sahara African nation, and over the past two decades has consistently been ranked near or at the bottom of worldwide indexes of the Human development index, GDP, and percapita income. Economic activity centres on subsistence agriculture, animal husbandry, re-export trade, and export of uranium. The 50% devaluation of the West African CFA franc in January 1994 boosted exports of livestock, cowpeas, onions, and the products of Niger's small cotton industry. Exports of cattle to neighboring Nigeria, as well as Groundnuts and their oil remain the primary non-mineral exports. The government relies on bilateral and multilateral aid – which was suspended briefly following coup d'états in 1996 and 1999 - for operating expenses and public investment. Short-term prospects depend on continued World Bank and IMF debt relief and extended aid. The post 1999 government has broadly adhered to privatisation and market deregulation plans instituted by these funders.