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PreviewAdvancedSpecial charactersHelpHeadingLevel 2Level 3Level 4Level 5FormatInsertLatinLatin extendedIPASymbolsGreekGreek extendedCyrillicArabicArabic extendedHebrewBanglaTamilTeluguSinhalaDevanagariGujaratiThaiLaoKhmerCanadian AboriginalRunesÁáÀàÂâÄäÃãǍǎĀāĂ㥹ÅåĆćĈĉÇçČčĊċĐđĎďÉéÈèÊêËëĚěĒēĔĕĖėĘęĜĝĢģĞğĠġĤĥĦħÍíÌìÎîÏïĨĩǏǐĪīĬĭİıĮįĴĵĶķĹĺĻļĽľŁłŃńÑñŅņŇňÓóÒòÔôÖöÕõǑǒŌōŎŏǪǫŐőŔŕŖŗŘřŚśŜŝŞşŠšȘșȚțŤťÚúÙùÛûÜüŨũŮůǓǔŪūǖǘǚǜŬŭŲųŰűŴŵÝýŶŷŸÿȲȳŹźŽžŻżÆæǢǣØøŒœßÐðÞþƏəFormattingLinksHeadingsListsFilesDiscussionReferencesDescriptionWhat you typeWhat you getItalic''Italic text''Italic textBold'''Bold text'''Bold textBold & italic'''''Bold & italic text'''''Bold & italic textDescriptionWhat you typeWhat you getReferencePage text.<ref>[https://www.example.org/ Link text], additional text.</ref>Page text.[1]Named referencePage text.<ref name="test">[https://www.example.org/ Link text]</ref>Page text.[2]Additional use of the same referencePage text.<ref name="test" />Page text.[2]Display references<references />↑ Link text, additional text.↑ Link text== Economy == {{Main|Economy of South Sudan}} {{See also|List of companies based in South Sudan}} [[File:Loka west teak.jpg|thumb|right|Loka Teaks is the largest [[teak]] [[plantation]] in Africa.{{citation needed|date=October 2012}}]] The economy of South Sudan is one of the world's most underdeveloped,<ref name=":0">{{Cite news |date=2023-12-20 |title=On safari in the world's most dangerous country |newspaper=The Economist |url=https://www.economist.com/interactive/christmas-specials/2023/12/20/on-safari-in-the-worlds-most-dangerous-county |access-date=2024-01-03 |issn=0013-0613}}</ref> with South Sudan having little existing infrastructure and the highest maternal mortality and female illiteracy rates in the world {{As of|2011|lc=y}}.<ref name=cnn>{{cite news|title=South Sudanese celebrate the birth of their nation|first1=Nima|last1=Elbagir|first2=Faith|last2=Karimi|url=http://edition.cnn.com/2011/WORLD/africa/07/09/sudan.new.nation/index.html|work=[[CNN]]|date=9 July 2011|access-date=9 July 2011|archive-url=https://web.archive.org/web/20110710164855/http://edition.cnn.com/2011/WORLD/africa/07/09/sudan.new.nation/index.html|archive-date=10 July 2011|url-status=live}}</ref> South Sudan exports timber to the international market. The region also contains many natural resources such as [[petroleum]], [[iron ore]], [[copper]], [[chromium]] ore, [[zinc]], [[tungsten]], [[mica]], [[silver]], [[gold]], [[diamonds]], [[hardwoods]], [[limestone]] and [[hydropower]].<ref>{{cite web|url= https://www.cia.gov/library/publications/the-world-factbook/fields/2111.html|title= Natural resources|work= CIA World Factbook|access-date= 2 February 2012|archive-url= https://web.archive.org/web/20120129052947/https://www.cia.gov/library/publications/the-world-factbook/fields/2111.html|archive-date= 29 January 2012|url-status= dead|df= dmy-all}}</ref> The country's economy, as in many other developing countries, is heavily dependent on agriculture. Other than natural resources-based companies, other such organisations include [[Southern Sudan Beverages Limited]], a subsidiary of [[SABMiller]]. === Oil === The oilfields in South Sudan have been significant to the economy since the latter part of the 20th century. In 2023, oil constitutes more than 90% of state revenues.<ref name=":0" /> The country has the third-largest [[oil reserves]] in [[Sub-Saharan Africa]].<ref name="oil" /> However, after South Sudan became an independent nation in July 2011, southern and northern negotiators were not immediately able to reach an agreement on how to split the revenue from these southern oilfields.<ref>{{cite news|url=https://www.nytimes.com/2011/07/10/world/africa/10sudan.html?_r=1&hp=&adxnnl=1&pagewanted=2&adxnnlx=1310234502-5nvX4GUBg0fK28Wp4PYaEA|title=After Years of Struggle, South Sudan Becomes a New Nation|work=[[The New York Times]]|date=9 July 2011|first=Jeffrey|last=Gettleman|access-date=28 February 2017|archive-url=https://web.archive.org/web/20170222195809/http://www.nytimes.com/2011/07/10/world/africa/10sudan.html?_r=1&hp=&adxnnl=1&pagewanted=2&adxnnlx=1310234502-5nvX4GUBg0fK28Wp4PYaEA|archive-date=22 February 2017|url-status=live}}</ref> [[File:Sudan Map Oelgas.png|thumb|upright=1.15|Oil and gas concessions in Sudan – 2004]] It is estimated that South Sudan has around 4 times the oil deposits of Sudan. The oil revenues, according to the [[Comprehensive Peace Agreement]] (CPA), were split equally for the duration of the agreement period.<ref name="pulitzercenter.org" /> Since South Sudan relies on pipelines, [[oil refinery|refineries]], and [[Port Sudan]]'s facilities in [[Red Sea (state)|Red Sea]] state in Sudan, the agreement stated that the [[government of Sudan|government]] of Sudan in [[Khartoum]] would receive a 50% share of all oil revenues.<ref name="pulitzercenter.org">{{cite web|first=Rebecca|last=Hamilton|url=http://pulitzercenter.org/articles/southern-sudanese-say-independence-vote-will-improve-life|title=Southern Sudanese Independence: High Hopes, Huge Obstacles|publisher=Pulitzer Center|date=28 November 2010|access-date=21 December 2013|archive-url=https://web.archive.org/web/20140425010705/http://pulitzercenter.org/articles/southern-sudanese-say-independence-vote-will-improve-life|archive-date=25 April 2014|url-status=live}}</ref><ref name="hours">{{cite news|url=http://www.businessinsider.com/southern-sudan-independence-2011-7|agency=Business Insider|title=Oil-Rich South Sudan Has Hours To Choose Between North Sudan, China and the U.S|first=Vincent|last=Trivett|date=8 July 2011|access-date=9 July 2011|archive-url=https://web.archive.org/web/20110710020507/http://www.businessinsider.com/southern-sudan-independence-2011-7|archive-date=10 July 2011|url-status=live}}</ref> This arrangement was maintained during the [[Autonomous Government of Southern Sudan|second period of autonomy]] from 2005 to 2011. In the run up to independence, northern negotiators reportedly pressed for a deal maintaining the 50–50 split of oil revenues, while the South Sudanese were holding out for more favourable terms.<ref name="hours" /> Oil revenues constitute more than 98% of the government of South Sudan's budget according to the southern government's Ministry of Finance and Economic Planning and this has amounted to more than $8 billion in revenue since the signing of the peace agreement.<ref name="pulitzercenter.org" /> After independence, South Sudan objected to Sudan charging US$34 per [[Barrel (unit)|barrel]] to transport oil through the pipeline to the oil terminal at Port Sudan. With production of around 30,000 barrels per day, this was costing over a million dollars per day. In January 2012, South Sudan suspended oil production, causing a dramatic reduction in revenue and food costs to rise by 120%.<ref>{{cite news|url=https://www.independent.co.uk/news/world/africa/happy-birthday-south-sudan-7912244.html|title=Happy Birthday South Sudan?|newspaper=[[The Independent]]|first=Ros|last=Wynne-Jones|date=7 July 2012|access-date=9 July 2012|archive-url=https://web.archive.org/web/20120709013201/http://www.independent.co.uk/news/world/africa/happy-birthday-south-sudan-7912244.html|archive-date=9 July 2012|url-status=live}}</ref> In 2017, [[Nile Drilling & Services]] became South Sudan's first locally owned and run petroleum drilling company. [[China National Petroleum Corporation]] (CNPC) is a major investor in South Sudan's oil sector.<ref name="oil">"[https://www.reuters.com/article/us-southsudan-unrest-china-idUSBRE9BJ0FV20131220 China to evacuate South Sudan oil workers to capital] {{Webarchive|url=https://web.archive.org/web/20150924191913/http://www.reuters.com/article/2013/12/20/us-southsudan-unrest-china-idUSBRE9BJ0FV20131220|date=24 September 2015}}". Reuters. 20 December 2013.</ref> South Sudan's economy is under pressure to diversify away from oil as oil reserves will likely halve by 2020 if no new finds are made, according to the [[International Monetary Fund]] (IMF).<ref>{{cite news|url=http://farmlandgrab.org/post/view/19806|title=S.Sudan seeks food and farmland investments|agency=Reuters|date=23 December 2011|access-date=15 January 2012|archive-url=https://web.archive.org/web/20120121032826/http://farmlandgrab.org/post/view/19806|archive-date=21 January 2012|url-status=live}}</ref>{{Needs update|date=August 2023}} === Debt === In terms of South Sudan's external debt, Sudan and South Sudan maintain a shared debt of approximately US$38 billion, all of which has accumulated throughout the past five decades.<ref>{{cite web|last=Badawi|first=Ahmad|date=3 October 2011|url=http://africanarguments.org/2011/10/03/a-greek-tragedy-is-sudan%E2%80%99s-woe-sudan-should-be-relieved-of-foreign-debt-by-ahmed-badawi/|title=A Greek Tragedy is Sudan's Woe: Sudan Must be Relieved of Foreign Debt Quickly|publisher=African Arguments|access-date=28 May 2012|archive-url=https://web.archive.org/web/20120329101159/http://africanarguments.org/2011/10/03/a-greek-tragedy-is-sudan%e2%80%99s-woe-sudan-should-be-relieved-of-foreign-debt-by-ahmed-badawi/|archive-date=29 March 2012|url-status=live}}</ref> Though a small portion of this debt is owed to such international institutions as the World Bank and the International Monetary Fund (approximately US$5.3 billion according to a 2009 report provided by the Bank of Sudan), the bulk of its debt load is actually owed to numerous foreign actors that have provided the nation with financial loans, including the [[Paris Club]] (over US$11 billion) and also non-Paris Club bilateral creditors (over US$13 billion).<ref>{{cite web|last=Leo|first=Benjamin|year=2009|url=http://www.cgdev.org/content/publications/detail/1424644|title=Sudan Debt Dynamics: Status Quo, Southern Secession, Debt Division, and Oil – a Financial Framework for the Future|publisher=Center for Global Development|access-date=28 May 2012|archive-url=https://web.archive.org/web/20120512004905/http://www.cgdev.org/content/publications/detail/1424644|archive-date=12 May 2012|url-status=live}}</ref> The Paris Club refers to an informal group of financial officials from 19 of the world's most influential economies, including such member nations as the United States, the United Kingdom, Germany, France and Canada, while non-Paris Club bilateral creditors refers to any entity that does not enjoy permanent/associated status as a Paris Club member.<ref>{{cite web|year=2012|url=http://www.clubdeparis.org/sections/composition/membres-permanents-et/membres-permanents|archive-url=https://web.archive.org/web/20090628015530/http://www.clubdeparis.org/sections/composition/membres-permanents-et/membres-permanents|url-status=dead|archive-date=28 June 2009|title=Permanent Members|publisher=Paris Club}}</ref> Private bilateral creditors (i.e. private commercial banks and private credit suppliers) account for the majority of the remainder (approximately US$6 billion of the total debt).<ref>{{cite web|last=Ahmed|first=Medani|year=2008|url=http://www.cmi.no/publications/file/3080-external-debts-growth-and-peace-in-the-sudan.pdf|title=External Debts, Growth and Peace in the Sudan|publisher=CHR. Michelsen Institute|access-date=28 May 2012|archive-url=https://web.archive.org/web/20120607171151/http://www.cmi.no/publications/file/3080-external-debts-growth-and-peace-in-the-sudan.pdf|archive-date=7 June 2012|url-status=live}}</ref> === East African Community membership === The presidents of Kenya and Rwanda invited the [[Autonomous Government of Southern Sudan]] to apply for membership to the [[East African Community]] upon the independence of South Sudan in 2011,<ref name="en.igihe.com">{{cite news|url=http://en.igihe.com/spip.php?article455|agency=IGIHE|title=South Sudan: Big trading potential for EAC|date=8 July 2011|access-date=9 July 2011|archive-url=https://web.archive.org/web/20120111173803/http://en.igihe.com/spip.php?article455|archive-date=11 January 2012|url-status=live}}</ref><ref>{{cite news|url=http://allafrica.com/stories/201107090046.html|agency=allAfrica|date=8 July 2011|access-date=9 July 2011|title=South Sudan: Rwanda Hopeful of South's Strategic Link to North Africa|first=Magnus|last=Mazimpaka|archive-url=https://web.archive.org/web/20110711130747/http://allafrica.com/stories/201107090046.html|archive-date=11 July 2011|url-status=live}}</ref> and South Sudan was reportedly an applicant country as of mid-July 2011.<ref name="en.igihe.com" /><ref>{{cite news|url=http://www.busiweek.com/11/editorial/editorial/1316-welcome-south-sudan-to-eac|agency=East African Business Week|title=Welcome South Sudan to EAC!|date=10 July 2011|access-date=10 July 2011|url-status=dead|archive-url=https://web.archive.org/web/20110927010848/http://www.busiweek.com/11/editorial/editorial/1316-welcome-south-sudan-to-eac|archive-date=27 September 2011}}</ref> Analysts suggested that South Sudan's early efforts to integrate infrastructure, including [[rail transport in South Sudan|rail links]] and oil pipelines,<ref>{{cite news|title=South Sudan to link to Kenya oil pipeline|url=https://af.reuters.com/article/sudanNews/idAFLAE63689720110706|access-date=19 October 2011|newspaper=Reuters|date=6 July 2011|archive-url=https://web.archive.org/web/20120514061706/http://af.reuters.com/article/sudanNews/idAFLAE63689720110706|archive-date=14 May 2012|url-status=dead}}</ref> with systems in Kenya and Uganda indicated intention on the part of [[Juba, South Sudan|Juba]] to pivot away from dependence on [[Sudan]] and toward the EAC. On 17 September 2011, the ''[[Daily Nation]]'' quoted a South Sudanese MP as saying that while his government was eager to join the EAC, it would likely delay its membership over concerns that its economy was not sufficiently developed to compete with EAC member states and could become a "dumping ground" for Kenyan, Tanzanian, and Ugandan exports.<ref>{{cite news|url=http://www.nation.co.ke/News/africa/South+Sudan+delays+membership+in+regional+bloc++/-/1066/1238078/-/s3w8wbz/-/|agency=Daily Nation|first=Machel|last=Amos|title=South Sudan delays membership in regional bloc|date=17 September 2011|access-date=18 September 2011|archive-url=https://web.archive.org/web/20131018020405/http://www.nation.co.ke/News/africa/South+Sudan+delays+membership+in+regional+bloc++/-/1066/1238078/-/s3w8wbz/-/|archive-date=18 October 2013|url-status=live}}</ref> This was contradicted by President [[Salva Kiir]], who announced South Sudan had officially embarked on the application process one month later.<ref>{{cite web|url=http://www.busiweek.com/11/the-eac-issues/eac-news/1891-south-sudan-readies-for-eac-membership|archive-url=https://web.archive.org/web/20111021011844/http://www.busiweek.com/11/the-eac-issues/eac-news/1891-south-sudan-readies-for-eac-membership|url-status=dead|title=South Sudan readies for EAC membership|archive-date=21 October 2011}}</ref> The application was initially deferred by the EAC in December 2012,<ref name=SS2EAC>{{cite news|url=http://news.xinhuanet.com/english/africa/2013-09/10/c_132705919.htm|title=Uganda says South Sudan likely to join EAC in 2014|agency=Xinhua News Agency|date=9 September 2013|access-date=17 October 2013|url-status=dead|archive-url=https://web.archive.org/web/20131114233621/http://news.xinhuanet.com/english/africa/2013-09/10/c_132705919.htm|archive-date=14 November 2013}}</ref> and incidents with Ugandan [[boda-boda]] operators in South Sudan created political tension.<ref name=UQSS2EAC>{{cite news|url=http://www.theafricareport.com/East-Horn-Africa/ugandan-mps-oppose-south-sudan-joining-east-african-community.html|title=Ugandan MPs oppose South Sudan joining East African community|agency=The Africa Report|date=7 October 2013|access-date=17 October 2013|archive-url=https://web.archive.org/web/20131018075530/http://www.theafricareport.com/East-Horn-Africa/ugandan-mps-oppose-south-sudan-joining-east-african-community.html|archive-date=18 October 2013|url-status=live}}</ref> In December 2012, Tanzania officially agreed to South Sudan's bid to join the EAC, clearing the way for the world's newest state to become the regional bloc's sixth member.<ref name="Tanzania warms up to South Sudan">{{cite news|url=https://www.theeastafrican.co.ke/news/Tanzania-warms-up-to-South-Sudan-membership-/-/2558/1639636/-/viwjrjz/-/index.html|title=Tanzania warms up to South Sudan membership|agency=The EastAfrican|date=8 December 2012|access-date=21 November 2013|archive-url=https://web.archive.org/web/20140201224927/https://www.theeastafrican.co.ke/news/Tanzania-warms-up-to-South-Sudan-membership-/-/2558/1639636/-/viwjrjz/-/index.html|archive-date=1 February 2014|url-status=live}}</ref> In May 2013, the EAC set aside $82,000 for the admission process. Starting after the EAC Council of Ministers meeting in August 2013, was projected to take at least four years. At the 14th Ordinary Summit held in Nairobi in 2012, EAC heads of state approved the verification report that was presented by the Council of Ministers, then directed it to start the negotiation process with South Sudan.<ref name="EAC prepares to admit South Sudan">{{cite news|url=https://www.theeastafrican.co.ke/news/EAC-prepares-to-admit-South-Sudan--/-/2558/1849526/-/ao63gfz/-/index.html|title=EAC prepares to admit South Sudan|agency=The EastAfrican|date=11 May 2013|access-date=21 November 2013|archive-url=https://web.archive.org/web/20140201224932/https://www.theeastafrican.co.ke/news/EAC-prepares-to-admit-South-Sudan--/-/2558/1849526/-/ao63gfz/-/index.html|archive-date=1 February 2014|url-status=live}}</ref> A team was formed to assess South Sudan's bid; however, in April 2014, the nation requested a delay in the admissions process, presumably due to [[South Sudanese Civil War]].<ref>{{cite web|url=http://allafrica.com/stories/201312051231.html|title=allAfrica.com: East Africa: EAC to Decide On South Sudan Admission by April 2014|work=allAfrica.com|access-date=9 May 2015|archive-url=https://web.archive.org/web/20150518125004/http://allafrica.com/stories/201312051231.html|archive-date=18 May 2015|url-status=live}}</ref><ref name=observer>{{cite web|title=South Sudan defers EAC admission|url=http://www.observer.ug/index.php?option=com_content&view=article&id=31578:-south-sudan-defers-eac-admission&catid=34:news&Itemid=114|work=The Observer | date=5 May 2014 |access-date=11 May 2014|archive-url=https://web.archive.org/web/20140512222918/http://www.observer.ug/index.php?option=com_content&view=article&id=31578:-south-sudan-defers-eac-admission&catid=34:news&Itemid=114|archive-date=12 May 2014|url-status=live}}</ref> South Sudan's Minister of Foreign Affairs, Barnaba Marial Benjamin, claimed publicly in October 2015 that, following unpublished evaluations and meetings of a special technical committee in May, June, August, September and October, the committee has recommended that South Sudan be allowed to join the East African Community.<ref>{{cite web|url=http://allafrica.com/stories/201511090602.html|title=East Africa: South Sudan's Push to Join EAC Gains Momentum|date=7 November 2015|access-date=14 November 2015|archive-url=https://web.archive.org/web/20151117022557/http://allafrica.com/stories/201511090602.html|archive-date=17 November 2015|url-status=live}}</ref> South Sudan was eventually approved for membership in [[East African Community]] in March 2016,<ref>{{cite web|url=https://www.nation.co.ke/business/South-Sudan-admitted-into-EAC/996-3100314-acaobi/index.html|title=South Sudan joins East African regional bloc|website=Daily Nation|access-date=31 January 2019|archive-url=https://web.archive.org/web/20190418043232/https://www.nation.co.ke/business/South-Sudan-admitted-into-EAC/996-3100314-acaobi/index.html|archive-date=18 April 2019|url-status=live}}</ref> and formally acceded with the signature of the treaty in April 2016.<ref>{{cite web|url=http://www.eac.int/news-and-media/statements/20160415/communique-signing-ceremony-treaty-accession-republic-south-sudan-east-african-community|title=COMMUNIQUÉ: SIGNING CEREMONY OF THE TREATY OF ACCESSION OF THE REPUBLIC OF SOUTH SUDAN INTO THE EAST AFRICAN COMMUNITY|date=15 April 2016|access-date=15 April 2016|publisher=East African Community|url-status=dead|archive-url=https://web.archive.org/web/20160424032901/http://www.eac.int/news-and-media/statements/20160415/communique-signing-ceremony-treaty-accession-republic-south-sudan-east-african-community|archive-date=24 April 2016}}</ref> === South Sudan and the Commonwealth of Nations === South Sudan has applied to join the [[Commonwealth of Nations]],<ref>{{cite web|url=http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/5418/South-Sudan-Launches-Bid-to-Join-Commonwealth.aspx|title=South Sudan Launches Bid to Join Commonwealth|website=Gurtong.net|date=8 July 2011|access-date=23 July 2017|archive-url=https://web.archive.org/web/20170711061322/http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/5418/South-Sudan-Launches-Bid-to-Join-Commonwealth.aspx|archive-date=11 July 2017|url-status=live}}</ref> considering that South Sudan was part of the [[Anglo-Egyptian Sudan]], and has two [[republics in the Commonwealth of Nations]], [[Kenya]] and [[Uganda]], as neighbouring countries. 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