Economy - overview Mali is among the poorest countries in the world, with 65% of its land area desert or semidesert. 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. In 1997, the government 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, has pushed up economic growth. Several multinational corporations increased gold mining operations in 1996 and the government anticipates that Mali will become a major Sub-Saharan gold exporter in the next few years.

GDP purchasing power parity - $6 billion (1997 est.)

GDP - real growth rate 6% (1997 est.)

GDP - per capita purchasing power parity - $600 (1997 est.)

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

Inflation rate - consumer price index 3% (1997 est.)

Labor force
total: NA
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 $320 million (1997 est.)

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

Industrial production growth rate 0.6% (1995 est.)

Electricity - capacity 87,000 kW (1995)

Electricity - production 290 million kWh (1995)

Electricity - consumption per capita 31 kWh (1995)

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

Exports
total value: $473 million (f.o.b., 1996 est.)
commodities: cotton, livestock, gold
partners: mostly franc zone and Western Europe

Imports
total value: $797 million (f.o.b., 1996 est.)
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 - 608.36 (January 1998), 583.67 (1997), 511.55 (1996), 499.15 (1995), 555.20 (1994), 283.16 (1993)
note: beginning 12 January 1994, the CFA franc was devalued to CFAF 100 per French 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 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mali Economy 1998 information contained here. All suggestions for corrections of any errors about Mali Economy 1998 should be addressed to the CIA.