Mali Economy 1997

Economy - overview Mali is among the poorest countries in the world, with 65% of its landarea desert or semidesert. Economic activity is largely confined to the riverinearea irrigated by the Niger. About 10% of the population is nomadic and some80% of the labor force is engaged in farming and fishing. Industrial activityis concentrated on processing farm commodities. Mali is heavily dependenton foreign aid and vulnerable to fluctuations in world prices for cotton,its main export. Nonetheless the government has successfully implemented anIMF-recommended structural adjustment program that is helping the economygrow, diversify, and attract foreign investment. Mali's adherence to economicreform, and the 50% devaluation of the African Franc in January 1994, haspushed up economic growth. Several multinational corporations increased goldmining operations in 1996 and the government projects that Mali will becomea major Sub-Saharan gold exporter in the next few years.

GDP purchasing power parity - $5.8 billion (1995 est.)

GDP - real growth rate 5.2% (1995 est.)

GDP - per capita purchasing power parity - $600 (1995 est.)

GDP - composition by sector
agriculture: 49%
industry: 17%
services: 34% (1995)

Inflation rate - consumer price index 12.7% (1995 est.)

Labor force
total: 2.666 million (1986 est.)
by occupation: agriculture 80%, services 19%, industry and commerce 1% (1981)

Unemployment rate NA%

Budget
revenues : $730 million
expenditures: $770 million, including capital expenditures of $NA (1997 est.)

Industries minor local consumer goods production and food processing; construction;phosphate and gold mining

Industrial production growth rate 1% (1994)

Electricity - capacity 84,100 kW (1990)

Electricity - production 235 million kWh (1995)

Electricity - consumption per capita 28 kWh (1991 est.)

Agriculture - products cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats

Exports
total value: $320 million (f.o.b., 1994)
commodities: cotton, livestock, gold
partners: mostly franc zone and Western Europe

Imports
total value : $422 million (f.o.b., 1994)
commodities: machinery and equipment, foodstuffs, construction materials, petroleum,textiles
partners: mostly franc zone and Western Europe

Debt - external $2.8 billion (1995)

Economic aid
recipient: ODA, $NA

Currency 1 Communaute Financiere Africaine franc (CFAF) = 100 centimes

Exchange rates CFA francs (CFAF) per US$1 - 541.69 (January 1997), 511.55 (1996), 499.15(1995), 555.20 (1994), 283.16 (1993), 264.69 (1992)
note: beginning 12 January 1994, the CFA franc was devalued to CFAF 100 perFrench franc from CFAF 50 at which it had been fixed since 1948

Fiscal year calendar year

NOTE: The information regarding Mali on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mali Economy 1997 information contained here. All suggestions for corrections of any errors about Mali Economy 1997 should be addressed to the CIA.