|
Economy - overview:
|
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 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 resulted in a buildup of
foreign debt. 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. In 2001, exploratory oil wells in tracts 80 km offshore
indicated potential extraction at current world oil prices. 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. Substantial oil production and exports
probably will not begin until 2006. Meantime the government
emphasizes reduction of poverty, improvement of health and
education, and promoting privatization of the economy. |
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GDP:
|
purchasing power
parity - $5.534 billion (2004 est.) |
|
GDP - real growth rate:
|
3% (2004 est.)
|
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GDP - per capita:
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purchasing power
parity - $1,800 (2004 est.) |
|
GDP - composition by sector:
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agriculture:
25%
industry: 29%
services: 46% (2001 est.) |
|
Population below poverty line:
|
40% (2004 est.)
|
|
Household income or consumption by percentage share:
|
lowest 10%:
2.5%
highest 10%: 30.2% (2000) |
|
Distribution of family income - Gini index:
|
37.3 (1995) |
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Inflation rate (consumer prices):
|
7% (2003 est.)
|
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Labor force:
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786,000 (2001)
|
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Labor force - by occupation:
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agriculture 50%,
industry 10%, services 40% (2001 est.) |
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Unemployment rate:
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20% (2004 est.)
|
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Budget:
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revenues:
$421 million
expenditures: $378 million, including capital
expenditures of $154 million (2002 est.) |
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Agriculture - products:
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dates, millet,
sorghum, rice, corn, dates; cattle, sheep |
|
Industries:
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fish processing,
mining of iron ore and gypsum |
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Industrial production growth rate:
|
2% (2000 est.)
|
|
Electricity - production:
|
190.2 million kWh
(2002) |
|
Electricity - production by source:
|
fossil fuel:
85.9%
hydro: 14.1%
nuclear: 0%
other: 0% (2001)
|
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Electricity - consumption:
|
176.9 million kWh
(2002) |
|
Electricity - exports:
|
0 kWh (2002)
|
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Electricity - imports:
|
0 kWh (2002)
|
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Oil - production:
|
0 bbl/day (2001
est.) |
|
Oil - consumption:
|
24,000 bbl/day
(2001 est.) |
|
Oil - exports:
|
NA |
|
Oil - imports:
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NA |
|
Exports:
|
$541 million
f.o.b. (2002) |
|
Exports - commodities:
|
iron ore, fish
and fish products, gold |
|
Exports - partners:
|
Japan 13%, France
10.9%, Spain 9.6%, Italy 9.5%, Germany 8.7%, Belgium 7.4%, China
5.8%, Russia 4.8% (2004)
|
|
Imports:
|
$860 million
f.o.b. (2002) |
|
Imports - commodities:
|
machinery and
equipment, petroleum products, capital goods, foodstuffs,
consumer goods |
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Imports - partners:
|
France 14.5%, US
7.7%, China 7.4%, Spain 5.9%, Belgium 4.3%, UK 4.3% (2004) |
|
Debt - external:
|
$2.5 billion
(2000) |
|
Economic aid - recipient:
|
$220 million
(2000) |
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Currency:
|
ouguiya (MRO)
|
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Currency code:
|
MRO |
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Exchange rates:
|
ouguiyas per US
dollar - NA(2004), 263.03 (2003), 271.74 (2002), 255.63 (2001),
238.92 (2000) |
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Fiscal year:
|
calendar year
|