| 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 |