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World > Africa > Mali > Economy (Facts)

Mali - Economy (Facts)
Economy - overview: Mali is among the poorest countries in the world, with 65% of its land area desert or semidesert and with a highly unequal distribution of income. Economic activity is largely confined to the riverine area irrigated by the Niger. About 10% of the population is nomadic and some 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. Mali is heavily dependent on foreign aid and vulnerable to fluctuations in world prices for cotton, its main export, along with gold. The government has continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, and attract foreign investment. Mali's adherence to economic reform and the 50% devaluation of the CFA franc in January 1994 have pushed up economic growth to a sturdy 5% average in 1996-2006. Worker remittances and external trade routes for the landlocked country have been jeopardized by continued unrest in neighboring Cote d'Ivoire.
GDP - real growth rate: 5.1% (2006 est.)
GDP (purchasing power parity): $14.77 billion (2006 est.)
GDP (official exchange rate): $5.847 billion (2006 est.)
GDP - per capita (PPP): $1,300 (2006 est.)
GDP - composition by sector: agriculture: 45%
industry: 17%
services: 38% (2001 est.)
Population below poverty line: 64% (2001 est.)
Household income or consumption by percentage share: lowest 10%: 1.8%
highest 10%: 40.4% (1994)
Inflation rate (consumer prices): 4.5% (2002 est.)
Labor force: 3.93 million (2001 est.)
Labor force - by occupation: agriculture: 80%
industry and services: 20% (2001 est.)
Unemployment rate: 14.6% (2001 est.)
Budget: revenues: $764 million
expenditures: $828 million; including capital expenditures of NA (2002 est.)
Industries: food processing; construction; phosphate and gold mining
Industrial production growth rate: NA
Electricity - production: 410 million kWh (2004)
Electricity - consumption: 381.3 million kWh (2004)
Electricity - exports: 0 kWh; note - recent hydropower developments may be providing electricity to Senegal and Mauritania (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 4,300 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
Exports: $323 million f.o.b. (2004 est.)
Exports - commodities: cotton, gold, livestock
Exports - partners: China 35.6%, Thailand 9.4%, Taiwan 8.1%, Bangladesh 5.3%, Australia 5% (2006)
Imports: $1.858 billion f.o.b. (2004 est.)
Imports - commodities: petroleum, machinery and equipment, construction materials, foodstuffs, textiles
Imports - partners: Senegal 13.8%, France 12.6%, Cote d'Ivoire 10.2% (2006)
Debt - external: $2.8 billion (2002)
Economic aid - recipient: $472.1 million (2002)
Currency: CFA Franc BCEAO (XOF)

Current CFA Franc BCEAO Exchange Rates
Historical CFA Franc BCEAO Exchange Rates
Chart CFA Franc BCEAO Exchange Rates
Currency code: XOF
Exchange rates: Communaute Financiere Africaine francs (XOF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - CFA Franc BCEAO Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
CFA Franc BCEAO Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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