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Economy - overview:
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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 African franc in
January 1994 have pushed up economic growth to a sturdy 5% average
in 1996-2004. Worker remittances and external trade routes have been
jeopardized by continued unrest in neighboring Cote d'Ivoire. |
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GDP:
|
purchasing power
parity - $11 billion (2004 est.) |
|
GDP - real growth rate:
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4% (2004 est.) |
|
GDP - per capita:
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purchasing power
parity - $900 (2004 est.) |
|
GDP - composition by sector:
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agriculture:
45%
industry: 17%
services: 38% (2001 est.) |
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Population below poverty line:
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64% average; 30% of
the total population living in urban areas; 70% of the total
population living in rural areas) (2001 est.) |
|
Household income or consumption by percentage share:
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lowest 10%:
1.8%
highest 10%: 40.4% (1994) |
|
Distribution of family income - Gini index:
|
50.5 (1994) |
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Inflation rate (consumer prices):
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4.5% (2002 est.)
|
|
Labor force:
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3.93 million (2001
est.) |
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Labor force - by occupation:
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agriculture and
fishing 80% (2001 est.) |
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Unemployment rate:
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14.6% urban areas;
5.3% rural areas (2001 est.) |
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Budget:
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revenues: $764
million
expenditures: $828 million, including capital expenditures of
NA (2002 est.) |
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Agriculture - products:
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cotton, millet, rice,
corn, vegetables, peanuts; cattle, sheep, goats |
|
Industries:
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food processing;
construction; phosphate and gold mining |
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Industrial production growth rate:
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NA (FY96/97) |
|
Electricity - production:
|
700 million kWh
(2002) |
|
Electricity - production by source:
|
fossil fuel:
41.7%
hydro: 58.3%
nuclear: 0%
other: 0% (2001)
|
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Electricity - consumption:
|
651 million kWh
(2002) |
|
Electricity - exports:
|
0 kWh; note - recent
hydropower developments may be providing electricity to Senegal and
Mauritania (2002)
|
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Electricity - imports:
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0 kWh (2002) |
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Oil - production:
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0 bbl/day (2001 est.)
|
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Oil - consumption:
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4,000 bbl/day (2001
est.) |
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Oil - exports:
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NA |
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Oil - imports:
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NA |
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Exports:
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$915 million f.o.b.
(2002 est.)
|
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Exports - commodities:
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cotton, gold,
livestock |
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Exports - partners:
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China 32%, India
10.3%, Italy 7.6%, Bangladesh 6.8%, Thailand 5.9%, Germany 5.2%,
Taiwan 4% (2004) |
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Imports:
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$927 million f.o.b.
(2002 est.)
|
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Imports - commodities:
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petroleum, machinery
and equipment, construction materials, foodstuffs, textiles |
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Imports - partners:
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France 15.4%, Senegal
7.2%, Cote d'Ivoire 6.6%, Germany 4.1% (2004) |
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Debt - external:
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$3.3 billion (2000)
|
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Economic aid - recipient:
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$596.4 million (2001)
|
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Currency:
|
Communaute Financiere
Africaine franc (XOF); note - responsible authority is the Central
Bank of the West African States |
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Currency code:
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XOF |
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Exchange rates:
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Communaute Financiere
Africaine francs (XOF) per US dollar - 528.29 (2004), 581.2 (2003),
696.99 (2002), 733.04 (2001), 711.98 (2000) |
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Fiscal year:
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calendar year |