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Mali Economy: from the All Country Info reference guide to country facts

Mali Economy

Mali Economy: A summary of information about Mali Economy, from government research data as well as independent research and other sources.

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Mali: Economy

Economy - overview
Mali is among the poorest countries in the world,
with 65% of its land area desert or semidesert. 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. In 1997, the government 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 African franc in January 1994, has pushed up
economic growth. Several multinational corporations increased gold
mining operations in 1996-98, and the government anticipates that Mali
will become a major Sub-Saharan gold exporter in the next few years.
Annual growth should remain in the 5-6% range in 2000-01, and
inflation should drop under 3%.
GDP
purchasing power parity - $8.5 billion (1999 est.)
GDP - real growth rate
5% (1999 est.)
GDP - per capita
purchasing power parity - $820 (1999 est.)
GDP - composition by sector
agriculture: 46%
industry: 21%
services: 33% (1998)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
3% (1999 est.)
Labor force
NA
Labor force - by occupation
agriculture and fishing 80% (1998 est.)
Unemployment rate
NA%
Budget
revenues: $730 million
expenditures: $770 million, including capital expenditures of $320
million (1997 est.)
Industries
minor local consumer goods production and food processing;
construction; phosphate and gold mining
Industrial production growth rate
0.6% (1995 est.)
Electricity - production
310 million kWh (1998)
Electricity - production by source
fossil fuel: 38.71%
hydro: 61.29%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
288 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
cotton, millet, rice, corn, vegetables,
peanuts; cattle, sheep, goats
Exports
$640 million (f.o.b., 1999 est.)
Exports - commodities
cotton 50%, gold, livestock (1998 est.)
Exports - partners
Thailand 20%, Italy 20%, China 9%, Brazil 5%,
Franc Zone (1997)
Imports
$650 million (f.o.b., 1999 est.)
Imports - commodities
machinery and equipment, construction
materials, petroleum, foodstuffs, textiles
Imports - partners
Cote d'Ivoire 19%, France 17%, other Franc Zone
and EU countries (1997)
Debt - external
$3.1 billion (1998)
Economic aid - recipient
$596.4 million (1995)
Currency
1 Communaute Financiere Africaine franc (CFAF) = 100
centimes
Exchange rates
Communaute Financiere Africaine francs (CFAF) per US$1
- 647.25 (January 2000), 615.70 (1999), 589.95 (1998), 583.67 (1997),
511.55 (1996), 499.15 (1995)
note: since 1 January 1999, the CFAF is pegged to the euro at a rate
of 655.957 CFA francs per euro
Fiscal year
calendar year
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