Mother Earth Travel > Country Index > Mauritania > Map Economy History |
| Economy - overview: A majority of the population still depends
on agriculture and livestock for a livelihood, even though most of the
nomads and many 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 half of total exports. The decline
in world demand for this ore, however, has led to cutbacks in production.
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 have resulted in a
buildup of foreign debt. In March 1999, the government signed an agreement
with a joint World Bank-IMF mission on a $54 million enhanced structural
adjustment facility (ESAF). Mauritania withdrew its membership in the
Economic Community of West African States (ECOWAS) in 2000. Privatization
and debt relief are in full swing, and the rate of economic growth appears
to be accelerating, especially in the construction, telecommunication, and
information sectors. Diamonds and petroleum are beginning to be explored
and exploited. GDP: purchasing power parity - $5.4 billion (2000
est.) SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Mauritania > Map Economy History