Economy of Mali

Mother Earth Travel > Country Index > Mali > Map Economy History

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 have pushed up economic growth to a sturdy 5% average in 1996-2000. Growth should remain around 5% in 2001-02, and inflation should stay less than 2%.

GDP: purchasing power parity - $9.1 billion (2000 est.)
GDP - real growth rate: 4.8% (2000 est.)
GDP - per capita: purchasing power parity - $850 (2000 est.)
GDP - composition by sector:
agriculture: 46%
industry: 21%
services: 33% (1998)
Household income or consumption by percentage share:
lowest 10%: 1.8%
highest 10%: 40.4%
Inflation rate (consumer prices): 0.8% (2000 est.)
Labor force - by occupation: agriculture and fishing 80% (1998 est.)
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: 445 million kWh (1999)
Electricity - production by source:
fossil fuel:  44.94%
hydro:  55.06%
nuclear:  0%
other:  0% (1999)
Electricity - consumption: 413.9 million kWh (1999)
Agriculture - products: cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
Exports: $480 million (f.o.b., 2000 est.)
Exports - commodities: cotton 50%, gold, livestock (1999 est.)
Exports - partners: Italy 18%, Thailand 15%, Germany 7%, Portugal 4% (1999)
Imports: $575 million (f.o.b., 2000 est.)
Imports - commodities: machinery and equipment, construction materials, petroleum, foodstuffs, textiles
Imports - partners: Cote d'Ivoire 19%, France 19%, Senegal 4%, Benelux 3% (1999)
Debt - external: $3 billion (1999)
Economic aid - recipient: $596.4 million (1995)
Currency: Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Mali > Map Economy History