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The Economy of Mauritania

Mauritanian Economy

Mauritania's map

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 have suspended their programs in Mauritania since the August 2008 coup. Oil prospects, while initially promising, have largely failed to materialize. Meantime the government emphasizes reduction of poverty, improvement of health and education, and promoting privatization of the economy.

GDP:

GDP - real growth rate: 3.5% (2008 est.) 1% (2007 est.) 11.4% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 12.5% industry: 46.7% services: 40.7% (2008 est.)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: 2.5% highest 10%: 29.5% (2000)

Distribution of family income - Gini index: 39 (2000)

Inflation rate (consumer prices):

Labor force: 786,000 (2001)

Labor force - by occupation: agriculture: 50% industry: 10% services: 40% (2001 est.)

Unemployment rate: 30% (2008 est.)

Budget: revenues: $770 million expenditures: $770 million (2007 est.)

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: 412.3 million kWh (2006 est.)

Electricity - production by source:

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: 14,990 bbl/day (2007 est.)

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.)

Agriculture - products: dates, millet, sorghum, rice, corn; cattle, sheep

Exports: $1.395 billion f.o.b. (2006)

Exports - commodities: iron ore, fish and fish products, gold, copper, petroleum

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

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: ouguiyas (MRO) per US dollar - NA (2007), 271.3 (2006), 267.04 (2005), 265.8 (2004), 263.03 (2003)

Fiscal year: