Economy Of Mali
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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 1996-2002. Worker remittances and external trade routes have been jeopardized by continued unrest in neighboring Cote d'Ivoire.
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GDP
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purchasing power parity - $10.53 billion (2004 est.)
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GDP - real growth rate
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0.5% (2004 est.)
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GDP - per capita
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purchasing power parity - $900 (2004 est.)
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GDP - composition by sector
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agriculture: 45%
industry: 17%
services: 38% (2001 est.)
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Investment gross fixed
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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.)
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Household income or consumption by percentage share
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lowest 10%: 1.8%
highest 10%: 40.4% (1994)
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Distribution of family income - Gini index
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50.5 (1994)
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Inflation rate consumer prices
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4.5% (2002 est.)
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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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Public debt
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Agriculture products
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cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
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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)
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Electricity production
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480.2 million kWh (2001)
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Electricity production by source
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fossil fuel: 41.7%
hydro: 58.3%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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446.6 million kWh (2001)
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Electricity exports
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0 kWh; note - recent hydropower developments may be providing electricity to Senegal and Mauritania (2001)
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Electricity imports
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0 kWh (2001)
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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 (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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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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Thailand 14%, China 12.1%, India 7.9%, Italy 7.5%, Bangladesh 6.1%, UK 6.1% (2003)
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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 7.7%, Cote d'Ivoire 7.1% (2003)
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Reserves of foreign exchange gold
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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
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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 - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to French Translation .
This information was reproduced in part from the CIA World Fact book.
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