Macroeconomic performance
Real GDP growth was estimated at 5.2% in 2018, up from 4.9% in 2017, indicating the stronger performance of the agricultural sector. On the demand side, final consumption grew by 4.5% in 2018 and investment by 11.7% (versus 2.4% in 2017). The structure of GDP remains relatively stable, with a predominance of the agricultural sector (43.4% of GDP in 2018), followed by services (35%) and the industrial sector (14.9%). Despite the consolidation of public finances, the budget deficit remained at 5.9% of GDP in 2018. Consumer price index inflation was estimated at 4.2% in 2018, reflecting an expansion in credit and money supply in the context of a contraction in net external assets.

The economic outlook is favorable, with real GDP growth forecast at 5.3% in 2019 and 5.7% in 2020. Economic activity should continue to benefit from the strong performance of the agricultural sector, thanks to the expansion of irrigated land and the development of mini-dams. The 2017-2020 Economic and Social Development Plan includes numerous infrastructure projects, including the Cotonou - Niamey - Ouagadougou - Abidjan rail loop, a crude oil export pipeline, the Salkadamna energy project and the Kandadji mixed hydroelectric dam.
The recovery in Nigeria should also be profitable for Niger. The effectiveness of these prospects is also subject to the risks associated with climatic shocks, lower crude oil export prices, possible delays in the pipeline construction project and the terrorist threat in the Sahel.

Outlook: positive and negative factors
Agriculture remains a priority in the country's strategy, with the aim of strengthening and accelerating economic growth. Implementation of the five-year action plan under the 3N initiative “Nigeriens nourissent les Nigériens” is underway, with encouraging results in terms of improved water resource management, increased productivity and added value for agro-sylvo-pastoral and fisheries production. The country has also undertaken numerous reforms to improve the business environment, and has moved up 26 places in four years in the World Bank's Doing Business ranking. Despite encouraging economic performance, poverty remains high (42.2% of the population in 2017) and access to basic services (health and education) is a major challenge.
As a large landlocked country, Niger is committed to regional integration, particularly in the context of the Economic Community of West African States and entry into the West African Economic and Monetary Union. Until early 2011, Niger exported exclusively agricultural and livestock products to these two economic zones. With oil exports since 2012, the country has diversified its exports and improved its trade balance. Niger has implemented most trade-related regional regulations, including the Common External Tariff and its accompanying measures, and has made progress in implementing the World Trade Organization's Trade Facilitation Agreement. It has also signed the agreement establishing the Continental Free Trade Area, and is a member of the G5 Sahel sub-regional organization created in 2014. In addition, Niger leads the group on climate change and chairs the Climate Commission for the Sahel region.