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Mali Economy Profile 2018

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Economy - overviewAmong the 25 poorest countries in the world, landlocked Mali depends on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Mali remains dependent on foreign aid.

Economic activity is largely confined to the riverine area irrigated by the Niger River; about 65% of Mali’s land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government subsidizes the production of cereals to decrease the country’s dependence on imported foodstuffs and to reduce its vulnerability to food price shocks.

Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold, but the pace will depend on global price trends. Although the political coup in 2012 slowed Mali’s growth, the economy has since bounced back, with GDP growth above 5% in 2014-17, although physical insecurity, high population growth, corruption, weak infrastructure, and low levels of human capital continue to constrain economic development. Higher rainfall helped to boost cotton output in 2017, and the country’s 2017 budget increased spending more than 10%, much of which was devoted to infrastructure and agriculture. Corruption and political turmoil are strong downside risks in 2018 and beyond.
GDP (purchasing power parity)$40.98 billion (2017 est.)
$38.91 billion (2016 est.)
$36.78 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$15 billion (2016 est.)
GDP - real growth rate5.3% (2017 est.)
5.8% (2016 est.)
6% (2015 est.)
GDP - per capita (PPP)$2,200 (2017 est.)
$2,100 (2016 est.)
$2,100 (2015 est.)
note: data are in 2017 dollars
Gross national saving13% of GDP (2017 est.)
10.3% of GDP (2016 est.)
12.1% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 71.9%
government consumption: 17%
investment in fixed capital: 18.8%
investment in inventories: 0.2%
exports of goods and services: 20.4%
imports of goods and services: -28.3% (2017 est.)
GDP - composition by sectoragriculture: 40.9%
industry: 18.9%
services: 40.2% (2017 est.)
Population below poverty line36.1% (2005 est.)
Labor force6.447 million (2017 est.)
Labor force - by occupationagriculture: 80%
industry and services: 20% (2005 est.)
Unemployment rate8.1% (2016 est.)
8.1% (2016 est.)
Unemployment, youth ages 15-24total: 11.1%
male: NA
female: NA (2014 est.)
Household income or consumption by percentage sharelowest 10%: 3.5%
highest 10%: 25.8% (2010 est.)
Distribution of family income - Gini index40.1 (2001)
50.5 (1994)
Budgetrevenues: $3.068 billion
expenditures: $3.584 billion (2017 est.)
Taxes and other revenues20.5% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-3.4% of GDP (2017 est.)
Public debt28% of GDP (2017 est.)
29.7% of GDP (2016 est.)
Inflation rate (consumer prices)0.2% (2017 est.)
-1.8% (2016 est.)
Central bank discount rate16% (31 December 2010)
4.25% (31 December 2009)
Commercial bank prime lending rate9% (31 December 2017 est.)
5.3% (31 December 2016 est.)
Stock of narrow money$3.023 billion (31 December 2017 est.)
$2.687 billion (31 December 2016 est.)
Stock of broad money$4.439 billion (31 December 2017 est.)
$3.858 billion (31 December 2016 est.)
Stock of domestic credit$3.39 billion (31 December 2017 est.)
$2.931 billion (31 December 2016 est.)
Market value of publicly traded shares$NA
Agriculture - productscotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
Industriesfood processing; construction; phosphate and gold mining
Industrial production growth rate4.7% (2017 est.)
Current Account Balance-$1.045 billion (2017 est.)
-$996 million (2016 est.)
Exports$3.036 billion (2017 est.)
$2.803 billion (2016 est.)
Exports - commoditiescotton, gold, livestock
Exports - partnersSwitzerland 30.4%, India 12.2%, Ukraine 5.1%, China 5.1%, Burkina Faso 4.9%, Senegal 4.3%, France 4%, South Africa 4% (2016)
Imports$3.891 billion (2017 est.)
$3.443 billion (2016 est.)
Imports - commoditiespetroleum, machinery and equipment, construction materials, foodstuffs, textiles
Imports - partnersSenegal 12.2%, China 12.2%, France 10.3%, Benin 8.6%, Cote dIvoire 8.4% (2016)
Debt - external$4.296 billion (31 December 2017 est.)
$3.981 billion (31 December 2016 est.)
Stock of direct foreign investment - at home$3.494 billion (31 December 2017 est.)
$3.266 billion (31 December 2016 est.)
Stock of direct foreign investment - abroad$72.2 million (31 December 2017 est.)
$62.2 million (31 December 2016 est.)
Exchange ratesCommunaute Financiere Africaine francs (XOF) per US dollar -
605.3 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on January 20, 2018

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