Economy Of Mauritania
|
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 2005. Meantime the government emphasizes reduction of poverty, improvement of health and education, and promoting privatization of the economy.
|
|
GDP
|
purchasing power parity - $5.195 billion (2004 est.)
|
|
GDP - real growth rate
|
4.5% (2004 est.)
|
|
GDP - per capita
|
purchasing power parity - $1,800 (2004 est.)
|
|
GDP - composition by sector
|
agriculture: 25%
industry: 29%
services: 46% (2001 est.)
|
|
Investment gross fixed
|
|
|
Population below poverty line
|
50% (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)
|
|
Inflation rate consumer prices
|
7% (2003 est.)
|
|
Labor force
|
786,000 (2001)
|
|
Labor force by occupation
|
agriculture 50%, industry 10%, services 40% (2001 est.)
|
|
Unemployment rate
|
21% (2004 est.)
|
|
Budget
|
revenues: $421 million
expenditures: $378 million, including capital expenditures of $154 million (2002 est.)
|
|
Public debt
|
|
|
Agriculture products
|
dates, millet, sorghum, rice, corn, dates; cattle, sheep
|
|
Industries
|
fish processing, mining of iron ore and gypsum
|
|
Industrial production growth rate
|
2% (2000 est.)
|
|
Electricity production
|
157.4 million kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 85.9%
hydro: 14.1%
other: 0% (2001)
nuclear: 0%
|
|
Electricity consumption
|
146.3 million kWh (2001)
|
|
Electricity exports
|
0 kWh (2001)
|
|
Electricity imports
|
0 kWh (2001)
|
|
Oil production
|
0 bbl/day (2001 est.)
|
|
Oil consumption
|
24,000 bbl/day (2001 est.)
|
|
Oil exports
|
NA (2001)
|
|
Oil imports
|
NA (2001)
|
|
Oil proved reserves
|
|
|
Natural gas production
|
|
|
Natural gas consumption
|
|
|
Natural gas exports
|
|
|
Natural gas imports
|
|
|
Natural gas proved reserves
|
|
|
Current account balance
|
|
|
Exports
|
$541 million f.o.b. (2002)
|
|
Exports commodities
|
iron ore, fish and fish products, gold
|
|
Exports partners
|
Japan 12.5%, France 12.1%, Spain 11.4%, Italy 10.4%, Belgium 7.8%, Germany 7.4%, Russia 5%, Cote d'Ivoire 4.2%, Netherlands 4% (2003)
|
|
Imports
|
$860 million f.o.b. (2002)
|
|
Imports commodities
|
machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods
|
|
Imports partners
|
France 16.8%, Spain 7.7%, China 6.3%, Belgium 5.1%, Germany 4.9%, Japan 4.3%, UK 4.1%, US 4% (2003)
|
|
Reserves of foreign exchange gold
|
|
|
Debt external
|
$2.5 billion (2000)
|
|
Economic aid recipient
|
$220 million (2000)
|
|
Currency
|
ouguiya (MRO)
|
|
Currency code
|
MRO
|
|
Exchange rates
|
ouguiyas per US dollar - NA (2003), 271.739 (2002), 255.629 (2001)
|
|
Fiscal year
|
calendar year
|
Applied Language Solutions offer English to Pulaar Translation , English to Soninke Translation , English to Wolof Translation , English to French Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Mauritania or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Mauritania or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Mauritania or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.