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Mali:
Economy

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Economy - overview
Definition
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 5% average in 1996-2007. Worker remittances and external trade routes for the landlocked country have been jeopardized by continued unrest in neighboring Cote d'Ivoire.
GDP (purchasing power parity)
Definition - World rank and map
$13.47 billion (2007 est.)
GDP (official exchange rate)
Definition
$6.745 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
2.5% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,000 (2007 est.)
GDP - composition by sector
Definition
agriculture: 45%
industry: 17%
services: 38% (2001 est.)
Labor force
Definition
5.4 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 80%
industry and services: 20% (2005 est.)
Unemployment rate
Definition - World rank and map
30% (2004 est.)
Population below poverty line
Definition
36.1% (2005 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.4%
highest 10%: 30.2% (2001)
Distribution of family income - Gini index
Definition - World rank and map
40.1 (2001)
Inflation rate (consumer prices)
Definition - World rank and map
2.5% (2007 est.)
Budget
Definition
revenues: $1.5 billion
expenditures: $1.8 billion (2006 est.)
Agriculture - products
Definition
cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
Industries
Definition
food processing; construction; phosphate and gold mining
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
804 million kWh (2006)
Electricity - consumption
Definition - World rank and map
804 million kWh (2006 est.)
Electricity - consumption per capita
Definition - World rank and map
65.3 kWh (2006 est.)
Electricity - exports
Definition
0 kWh; note - recent hydropower developments may be providing electricity to Senegal and Mauritania (2007 est.)
Electricity - imports
Definition
0 kWh (2007)
Oil - production
Definition - World rank and map
0 bbl/day (2006 est.)
Oil - consumption
Definition - World rank and map
5,600 bbl/day (2006 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.5 bbl/day (2006 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2006)
Oil - imports
Definition - World rank and map
5,600 bbl/day (2006 est.)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$446 million (2007 est.)
Exports
Definition - World rank and map
$294 million f.o.b. (2006)
Exports - commodities
Definition
cotton, gold, livestock
Exports - partners
Definition
China 16.8%, Thailand 9%, Taiwan 8.9%, Bangladesh 6.8%, Vietnam 6.2% (2006)
Imports
Definition - World rank and map
$2.358 billion f.o.b. (2006)
Imports - commodities
Definition
petroleum, machinery and equipment, construction materials, foodstuffs, textiles
Imports - partners
Definition
France 12.9%, Senegal 12.7%, Cote d'Ivoire 10.9%, China 4.8% (2006)
Debt - external
Definition - World rank and map
$2.8 billion (2002)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$691.5 million (2005)
Currency (code)
Definition
Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Exchange rates
Definition
Communaute Financiere Africaine francs (XOF) per US dollar - 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
note: since 1 January 1999, the XOF franc has been pegged to the euro at a rate of 655.957 XOF francs per euro
Fiscal year
Definition
calendar year


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