| Economy | Mauritania |
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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 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. Before 2000, 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 nearly all of its foreign debt has since been forgiven. In December 2007 donors pledged $2.1 billion at a triennial Consultative Group review. A new investment code approved in December 2001 improved the opportunities for direct foreign investment. Mauritania and the IMF agreed to a three-year Poverty Reduction and Growth Facility (PRGF) arrangement in 2006 and Mauritania made satisfactory progress, but IMF and World Bank suspended their programs in Mauritania following the August 2008 coup; following the July 2009 Presidential elections, the IMF and World Bank agreed to meet with the Goverment to discuss a resumption. Oil prospects, while initially promising, have largely failed to materialize. The Government continues to emphasize reduction of poverty, improvement of health and education, and privatization of the economy. |
GDP (purchasing power parity):
|
$6.494 billion (2009 est.)
$6.398 billion (2008 est.)
$6.182 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$2,100 (2009 est.)
$2,100 (2008 est.)
$2,100 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
|
$3.241 billion (2009 est.) |
GDP - real growth rate:
|
1.5% (2009 est.)
3.5% (2008 est.)
1% (2007 est.) |
GDP - composition by sector:
|
agriculture: 12.5%
industry: 46.7%
services: 40.7% (2008 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
40% (2004 est.) |
Household income or consumption by percentage share:
|
lowest 10%: 2.5%
highest 10%: 29.5% (2000) |
Distribution of family income - Gini index:
|
39 (2000)
37.3 (1995) |
Inflation rate (consumer prices):
|
7.3% (2007 est.) |
Central bank discount rate:
|
NA% (31 December 2008)
12% (31 December 2007) |
Commercial bank prime lending rate:
|
NA% (31 December 2008) |
Stock of money:
|
$NA (31 December 2008) |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
$NA (31 December 2008) |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
$NA (31 December 2008) |
Stock of domestic credit - per capita:
|
void |
Labor force:
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1.318 million (2007) |
Labor force participation rate:
|
42.12 % of population |
Labor force - by occupation:
|
agriculture: 50%
industry: 10%
services: 40% (2001 est.) |
Unemployment rate:
|
30% (2008 est.)
20% (2004 est.) |
Budget:
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revenues: $770 million
expenditures: $770 million (2007 est.) |
Budget revenues per capita:
|
247 USD per capita |
Public debt:
|
void |
Industries:
|
fish processing, oil production, mining of iron ore, gold, and copper; gypsum deposits have never been exploited |
Industrial production growth rate:
|
2% (2000 est.) |
Electricity - production:
|
415.3 million kWh (2007 est.) |
Electricity - production per capita:
|
133 kWh per capita |
Electricity - consumption:
|
386.2 million kWh (2007 est.) |
Electricity - consumption - per capita:
|
124 kWh per capita |
Electricity - exports:
|
0 kWh (2008 est.) |
Electricity - imports:
|
0 kWh (2008 est.) |
Oil - production:
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12,830 bbl/day (2008 est.) |
Oil - production per capita:
|
4,100 bbl/day per capita |
Oil - consumption:
|
21,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
|
2.45 bbl/year per capita |
Oil - exports:
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30,620 bbl/day (2007 est.) |
Oil - imports:
|
20,610 bbl/day (2007 est.) |
Oil - proved reserves:
|
100 million bbl (1 January 2009 est.) |
Natural gas - production:
|
0 cu m (2008 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2008 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2008 est.) |
Natural gas - imports:
|
0 cu m (2008 est.) |
Natural gas - proved reserves:
|
28.32 billion cu m (1 January 2009 est.) |
Agriculture - products:
|
dates, millet, sorghum, rice, corn; cattle, sheep |
Current account balance:
|
$-184 million (2007 est.) |
Current account balance - per capita:
|
-58 USD per capita |
Exports:
|
$1.395 billion (2006 est.) |
Exports per capita:
|
446 USD per capita |
Exports - commodities:
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iron ore, fish and fish products, gold, copper, petroleum |
Exports - partners:
|
China 41.4%, France 10.2%, Spain 7%, Italy 6.9%, Netherlands 5.4%, Belgium 4.7%, Cote d'Ivoire 4% (2008) |
Imports:
|
$1.475 billion (2006 est.) |
Imports per capita:
|
472 USD per capita |
Imports - commodities:
|
machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods |
Imports - partners:
|
France 16.7%, China 8.8%, Netherlands 6.4%, Spain 6%, Belgium 5.4%, US 5.1%, Brazil 4.5% (2008) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$190.4 million |
Economic aid - recipient per capita:
|
61 USD per capita |
Currency (code):
|
ouguiya (MRO) |
Exchange rates:
|
ouguiyas (MRO) per US dollar - NA (2007), 271.3 (2006), 267.04 (2005), 265.8 (2004), 263.03 (2003) |
Fiscal year:
|
calendar year |
|
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