Country Report Sudan March 2011

Outlook for 2011-12: External sector

Oil sales will continue to generate the bulk of export revenue, which will rise to an average of US$12.1bn in 2011-12. Imports-chiefly food, machinery and manufactured goods-will average US$10.1bn over the period. The trade balance is forecast to rise to an average of US$2bn in 2011-12, boosted by the oil price spike in 2011 before returning in 2012 to a level similar to that seen in 2010. The non-merchandise deficit will grow to an average of US$5.9bn in 2011-12, owing to rising income and services debits related to foreign companies' profit repatriation and engineering services payments, although net current transfers will remain positive, boosted by remittances from Sudanese working abroad. Overall, the current-account deficit, which we estimate reached US$4.1bn (6.3% of GDP) in 2010, will average 6.2% of GDP in 2011-12.

© 2011 The Economist lntelligence Unit Ltd. All rights reserved
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