An African country, Sudan has been broken into two recently with formation of a new country named South Sudan. Economy of South Sudan will depend on its—

South Sudan's economy is overwhelmingly dependent on its mineral resources, specifically petroleum oil. Upon gaining independence in 2011, South Sudan inherited approximately three-quarters of the former unified Sudan's oil reserves. Currently, oil accounts for more than 90% of the government's annual operating budget and nearly all of its exports [1]. While the vast majority of the population (over 80%) is engaged in subsistence agriculture for their livelihoods, this sector remains largely underdeveloped and contributes significantly less to the formal national economy compared to the extractive sector [1]. The country is considered one of the most oil-dependent nations in the world, with 80% of its Gross Domestic Product (GDP) derived from oil production. Consequently, the nation's economic stability and growth are inextricably linked to the management and export of its mineral wealth.

Sources

1. [1] https://www.worldbank.org/en/news/press-release/2022/06/15/world-bank-report-with-peace-and-accountability-oil-and-agriculture-can-support-early-recovery-in-south-sudan