South Sudan is the most oil-dependent country in the world; oil accounts for the bulk of its exports, approximately 60% of GDP and more than 95% of government revenues.

Economic performance has been hindered by current global headwinds and the country’s fragility challenges. The combination of the sharp drop in oil prices (from $110 per barrel in 2014 to roughly $50 in 2017) and the reduction in oil production following the outbreak of the ongoing civil war sharply reduced the growth rate. Real GDP dropped to 5.3% in 2015 and 13.1% in 2016, and it is projected to decline at 6.1% in 2017.