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Mauritania:
Economy

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Economy - overview
Definition
Half the population still depends on agriculture and livestock for a livelihood, even though many of the nomads and subsistence farmers were forced into the cities by recurrent droughts in the 1970s and 1980s. Mauritania has extensive deposits of iron ore, which account for nearly 40% of total exports. The nation's coastal waters are among the richest fishing areas in the world, but overexploitation by foreigners threatens this key source of revenue. The country's first deepwater port opened near Nouakchott in 1986. In the past, drought and economic mismanagement resulted in a buildup of foreign debt, which now stands at more than three times the level of annual exports. In February 2000, Mauritania qualified for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative and in December 2001 received strong support from donor and lending countries at a triennial Consultative Group review. A new investment code approved in December 2001 improved the opportunities for direct foreign investment. Ongoing negotiations with the IMF involve problems of economic reforms and fiscal discipline. In 2001, exploratory oil wells in tracts 80 km offshore indicated potential extraction at current world oil prices. Oil prospects, while initially promising, have failed to materialize. Meantime the government emphasizes reduction of poverty, improvement of health and education, and promoting privatization of the economy.
GDP (purchasing power parity)
Definition - World rank and map
$5.947 billion (2007 est.)
GDP (official exchange rate)
Definition
$2.756 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
0.9% (2007 est.)
GDP - per capita
Definition - World rank and map
$2,000 (2007 est.)
GDP - composition by sector
Definition
agriculture: 25%
industry: 29%
services: 46% (2001 est.)
Labor force
Definition
786,000 (2001)
Labor force - by occupation
Definition
agriculture: 50%
industry: 10%
services: 40% (2001 est.)
Unemployment rate
Definition - World rank and map
20% (2004 est.)
Population below poverty line
Definition
40% (2004 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.5%
highest 10%: 29.5% (2000)
Distribution of family income - Gini index
Definition - World rank and map
39 (2000)
Inflation rate (consumer prices)
Definition - World rank and map
7.3% (2007 est.)
Budget
Definition
revenues: $421 million
expenditures: $378 million (2002 est.)
Agriculture - products
Definition
dates, millet, sorghum, rice, corn; cattle, sheep
Industries
Definition
fish processing, mining of iron ore and gypsum
Industrial production growth rate
Definition - World rank and map
2% (2000 est.)
Electricity - production
Definition - World rank and map
248 million kWh (2005)
Electricity - consumption
Definition - World rank and map
230.6 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
68.6 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
75,000 bbl/day (2006 est.)
Oil - consumption
Definition - World rank and map
20,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
5.9 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
19,960 bbl/day (2004)
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
-$184 million (2007 est.)
Exports
Definition - World rank and map
$1.395 billion f.o.b. (2006)
Exports - commodities
Definition
iron ore, fish and fish products, gold
Exports - partners
Definition
China 33.1%, France 9.1%, Italy 8.2%, Spain 8.2%, Japan 5.3%, Netherlands 5.1%, Belgium 4.8%, Cote d'Ivoire 4.6% (2006)
Imports
Definition - World rank and map
$1.475 billion f.o.b. (2006)
Imports - commodities
Definition
machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods
Imports - partners
Definition
France 16.6%, China 8.4%, Spain 6.7%, US 6.1%, Belgium 5.8%, Brazil 5.4% (2006)
Debt - external
Definition - World rank and map
NA
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$190.4 million (2005)
Currency (code)
Definition
ouguiya (MRO)
Exchange rates
Definition
ouguiyas per US dollar - NA (2007), 271.3 (2006), 267.04 (2005), 265.8 (2004), 263.03 (2003)
Fiscal year
Definition
calendar year


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