That projected dollar amount results from a -63.1% reduction from $1.67 billion 5 years earlier in 2019.
Year over year, the overall value of South Sudanese exports grew by 20.6% compared to $511.2 million starting from 2022.
Based on the average exchange rate for 2023, the South Sudanese pound depreciated by -488.8% against the US dollar since 2019 and diluted by -74.1% from 2022 to 2023. South Sudan’s weaker local currency made the African nation’s exports paid for in stronger US dollars relatively less expensive for international buyers.
The top 2 most valuable exported goods from South Sudan are crude oil and processed petroleum oils. Combined, South Sudan’s leading pair of energy exports accounted for 95.7% of the country’s overall revenues from export sales. Such a high percentage belies an intensely concentrated portfolio of exported products.
South Sudan’s Major Trading Partners
The latest available country-specific data shows that 99.95% of products exported from South Sudan was bought by importers in: mainland China (57.5% of the South Sudanese total), Singapore (33.4%), Germany (4.8%), Uganda (3.8%), India (0.22%), Pakistan (0.11%), United Kingdom (0.03%), Egypt (0.022%), Kenya (0.02%), Mozambique (0.012%), Canada (0.01%) and Ukraine (0.009%).
From a continental perspective, 91.2% of South Sudan’s exports by value was delivered to Asian countries while 4.9% was sold to importers in Europe. South Sudan shipped another 3.9% worth of goods to Africa.
Smaller percentages went to Canada in North America (0.01%), Australia in Oceania (0.004%) then Trinidad and Tobago in the Caribbean (0.001%).
Given South Sudan’s population of 15 million people, its total $616.6 million in 2023 exported goods translates to roughly $40 for every resident in the northeast African nation. That dollar metric exceeds the average $30 per capita one year earlier during 2022.
South Sudan’s Top 10 Exports
The following export product groups categorize the highest dollar value in South Sudanese global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from South Sudan.
- Mineral fuels including oil: US$590.8 million (95.8% of total exports)
- Iron, steel: $14.9 million (2.4%)
- Plastics, plastic articles: $3.7 million (0.6%)
- Fish: $2.6 million (0.4%)
- Wood: $1.9 million (0.3%)
- Milling products, malt, starches: $405,000 (0.066%)
- Machinery including computers: $403,000 (0.065%)
- Vehicles: $328,000 (0.053%)
- Beverages, spirits, vinegar: $315,000 (0.051%)
- Glass: $218,000 (0.04%)
South Sudan’s top 10 export product categories generated 99.8% of the overall value of its global shipments.
Milling products, malt and starches was the fastest grower among the top 10 export categories, up by 40,400% from 2022 to 2023.
In second place for improving export sales was beverages, spirits and vinegar via a 1,332% advance.
South Sudan’s shipments of plastics including both as materials and items made from plastic articles posted the third-fastest gain in value, up by 520.7%.
The leading decliner among South Sudan’s top 10 export categories was glass, pulled down by a -94.6% year-over-year drop.
Products Generating South Sudan’s Best Trade Surpluses
The following types of South Sudanese product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Mineral fuels including oil: US$574.9 million (Up by 35.4% since 2022)
- Fish: $1.9 million (Up by 122.1%)
- Gems, precious metals: $41,000 (Down by -99.8%)
- Miscellaneous animal-origin products: $11,000 (Reversing a -$88,000 deficit)
- Gums, resins, other vegetable saps: $9,000 (Down by -99.3%)
South Sudan has highly positive net exports in the international trade of crude oil and, to a much lesser extent, refined petroleum oils. In turn, these cashflows support South Sudan’s strong competitive advantages under the mineral fuels-related product category.
Products Causing South Sudan’s Worst Trade Deficits
Overall South Sudan recorded an estimated -US$473.1 million trade surplus for 2023, shrinking by -51.8% from the -$981.5 million deficit one year earlier in 2022.
Below are exports from South Sudan that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country South Sudan’s goods trail South Sudanese importer spending on foreign products.
- Beverages, spirits, vinegar: -US$83.5 million (Up by 5.6% since 2022)
- Milling products, malt, starches: -$80.7 million (Down by -13%)
- Vehicles: -$78.1 million (Down by -33.2%)
- Electrical machinery, equipment: -$69.1 million (Down by -4.1%)
- Salt, sulphur, stone, cement: -$66.5 million (Up by 7.8%)
- Machinery including computers: -$63.2 million (Down by -34.4%)
- Miscellaneous food preparations: -$48.3 million (Up by 92.7%)
- Iron, steel: -$47.9 million (Up by 3.1%)
- Animal/vegetable fats, oils, waxes: -$44.4 million (Down by -34.2%)
- Articles of iron or steel: -$38.8 million (Up by 14.3%)
South Sudan has highly negative net exports and therefore deep international trade deficits under the beverages, spirits and vinegar product category.
South Sudanese Export Companies
Not one South Sudanese corporation ranks among Forbes Global 2000 listing for the world’s largest companies.
Wikipedia does list some international trade-related companies from South Sudan. Selected examples are shown below.
- Buffalo Commercial Bank (commerical banking)
- Ivory Bank (commerical banking)
- Mountain Trade and Development Bank (commerical banking)
- Southern Sudan Beverages Limited (brewery)
- South Supreme Airlines (airliner)
In macroeconomic terms, South Sudan’s total exported goods represent 9.5% of its overall Gross Domestic Product for 2023 ($6.5 billion valued in Purchasing Power Parity US dollars). That 9.5% for exports to overall GDP in PPP for 2023 compares to roughly 6.3% in 2022. Those percentages suggest a relatively increasing reliance on products sold on international markets for South Sudan’s total economic performance, albeit based on a relatively short timeframe.
Another key indicator of a country’s economic health is its unemployment rate. South Sudan’s unemployment rate averaged 12% for 2023, down from an average 12.4% in 2022 based on Trading Economics metrics.
South Sudan’s capital city is Juba.
See also Top South African Trading Partners, Kenya’s Top 10 Exports and Top African Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Africa: South Sudan. Accessed on October 7, 2024
Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 7, 2024
International Monetary Fund, Exchange Rates (Average Domestic) – South Sudan. Accessed on October 7, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on October 7, 2024
International Trade Centre, Trade Map. Accessed on October 7, 2024
Investopedia, Net Exports Definition. Accessed on October 7, 2024
Wikipedia, Flag of South Sudan. Accessed on October 7, 2024
Wikipedia, List of Companies of South Sudan. Accessed on October 7, 2024
Wikipedia, South Sudan. Accessed on October 7, 2024