Economy of Mali
Overview
Mali is among the poorest countries in the world, with 65% of its land area desert or semi-desert 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 labour 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 5% average in 1996-2007. Worker remittances and external trade routes for the landlocked country have been jeopardised by continued unrest in neighbouring Cote d'Ivoire.
GDP
Real Growth Rate
4%
Per Capita
USD 1,200
From Agriculture
45%
From Industry
17%
From Services
38%
Labour Force
Available for Work
5
Working in Agriculture
80%
Working in Industry
20%
Working in Services
0%
Unemployment Rate
30%
Population Below Poverty Line
36%
Inflation Rate
3%
Investment as Percent of GDP
0%
Budget
Revenues
USD 1,500 (m)
Expenditures
USD 1,800 (m)
Public Debt
US$ 2800.00 (m)
Agricultural Products
Cotton, millet, rice, corn, vegetables, peanuts, cattle, sheep, goats.
Core Industries
Food processing; construction; phosphate and gold mining.
Exports
Value
USD 294 (m)
Commodities
Cotton, gold, livestock.
Partners
China 26.8%, Germany 24.9%, Thailand 7.1%, Taiwan 4.9%, Bangladesh 4% (2006).
Imports
Value
USD 2,358 (m)
Commodities
Petroleum, machinery and equipment, construction materials, foodstuffs, textiles.
Partners
France 12.8%, Senegal 12.2%, Cote d'Ivoire 10.5% (2006).
External Debt
USD 2,800 (m)
Fiscal Year
Calendar year
