Sudan: Sudan's Gold Export Earnings Soar, but the Money Is Not Reaching the Poor

What the report says

A Sudanese economic report, issued by the Ministry of Minerals with the Central Bank of Sudan, says gold export revenue reached $3.5 billion over the past ten months, reflecting a sharp rise in proceeds moving through official channels. The figures were presented as an achievement by state institutions, with expectations that a larger share of gold earnings will be routed through the formal banking system in the coming period.

However, the article says the income has not yet eased Sudan’s broader economic crisis. The Sudanese pound continues to weaken, market prices remain high, and ordinary households have seen little relief. The report also comes against the backdrop of the war that began on 15 April 2023, which has diverted state spending toward conflict needs rather than public services such as health and education.

Economic expert Dr Haitham Mohamed Fathi said gold remains Sudan’s most important export and a major source of foreign currency, especially after South Sudan’s secession. He argued that tighter state controls on storage, collection and exports have not yet produced clear economic benefits, although the sector remains a potential lifeline if revenues are managed better.

The article also notes persistent problems in Sudan’s mining sector, including smuggling, environmental damage, and inconsistent policy. It says large volumes of gold are believed to leave the country outside official oversight, making it difficult to measure actual production and limiting the state’s ability to convert mineral wealth into broad-based economic relief.