Mauritania



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Mauritania Economy 2008


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. In the past, drought and economic mismanagement resulted in a buildup of foreign debt, which now stands at more than three times the level of annual exports. 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. 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. In 2001, exploratory oil wells in tracts 80 km offshore indicated potential extraction at current world oil prices. Oil prospects, while initially promising, have failed to materialize. Meantime the government emphasizes reduction of poverty, improvement of health and education, and promoting privatization of the economy.
GDP (purchasing power parity): $5.974 billion (2007 est.)
GDP (official exchange rate): $2.756 billion (2007 est.)
GDP - real growth rate: 1% (2007 est.)
GDP - per capita (PPP): $1,800 (2007 est.)
GDP - composition by sector: agriculture: 25% industry: 29% services: 46% (2001 est.)
Labor force: 786,000 (2001)
Labor force - by occupation: agriculture: 50% industry: 10% services: 40% (2001 est.)
Unemployment rate: 20% (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)
Budget: revenues: $421 million expenditures: $378 million (2002 est.)
Inflation rate (consumer prices): 7.3% (2007 est.)
Central bank discount rate: NA
Stock of money: NA (31 December 2007)
Stock of quasi money: NA (31 December 2007)
Stock of domestic credit: NA (31 December 2007)
Agriculture - products: dates, millet, sorghum, rice, corn; cattle, sheep
Industries: fish processing, mining of iron ore and gypsum
Industrial production growth rate: 2% (2000 est.)
Electricity - production: 412.3 million kWh (2006 est.)
Electricity - consumption: 383.4 million kWh (2006 est.)
Electricity - exports: 0 kWh (2007 est.)
Electricity - imports: 0 kWh (2007 est.)
Oil - production: 14,990 bbl/day (2007 est.)
Oil - consumption: 19,320 bbl/day (2006 est.)
Oil - exports: 0 bbl/day (2005)
Oil - imports: 23,630 bbl/day (2005)
Oil - proved reserves: 100 million bbl (1 January 2008 est.)
Natural gas - production: 0 cu m (2007 est.)
Natural gas - consumption: 0 cu m (2007 est.)
Natural gas - exports: 0 cu m (2007 est.)
Natural gas - imports: 0 cu m (2007 est.)
Natural gas - proved reserves: 28.32 billion cu m (1 January 2008 est.)
Current account balance: -$184 million (2007 est.)
Exports: $1.395 billion f.o.b. (2006)
Exports - commodities: iron ore, fish and fish products, gold
Exports - partners: China 30.5%, France 9.5%, Italy 8.5%, Spain 8.5%, Japan 5.5%, Netherlands 5.3%, Belgium 5%, Cote d'Ivoire 4.7% (2007)
Imports: $1.475 billion f.o.b. (2006)
Imports - commodities: machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods
Imports - partners: France 16.5%, China 8.1%, Spain 6.7%, US 6.1%, Belgium 5.8%, Brazil 5.7% (2007)
Debt - external: NA
Market value of publicly traded shares: $NA
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)

NOTE: The economy information regarding Mauritania on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mauritania Economy 2008 information contained here. All suggestions for corrections of any errors about Mauritania Economy 2008 should be addressed to the CIA.