Economy of Mauritania
From Wikipedia, the free encyclopedia
| Economy of Mauritania | ||
|---|---|---|
| Currency | Ouguiya | |
| Fiscal year | Calendar Year | |
| Trade organisations | AU, WTO | |
| Statistics [1] | ||
| GDP ranking | 153rd (2004) [2] | |
| GDP | $5.534 billion (2004) | |
| GDP growth | 3% (2004) | |
| GDP per capita | $1,800 (2004) | |
| GDP by sector | agriculture (25%), industry (29%), services (46%) (2001) | |
| Inflation | 7% (2003) | |
| Pop below poverty line | 40% (2004) | |
| Labour force | 786,000 (2001) | |
| Labour force by occupation | agriculture (50%), industry (10%), services (40%) (2001) | |
| Unemployment | 20% (2004) | |
| Main industries | fish processing, mining of iron ore and gypsum | |
| Trading Partners [3] | ||
| Exports | $541 million (2002) | |
| Export - Commodities | iron ore, fish and fish products, gold | |
| Main partners | Japan 13%, France 10.9%, Spain 9.6%, Italy 9.5%, Germany 8.7%, Belgium 7.4%, the People's Republic of China 5.8%, Russia 4.8%(2004) | |
| Imports | $860 million (2002) | |
| Imports - Commodities | machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods | |
| Main Partners | France 14.5%, U.S. 7.7%, the People's Republic of China 7.4%, Spain 5.9%, Belgium 4.3%, UK 4.3% (2004) | |
| Public finances [4] | ||
| Public debt | N/A (2004) | |
| Revenues | $421 million (2002) | |
| Expenses | $378 million (2002) | |
| Economic aid | $220 million (recipient)(2000) | |
Economy - overview: A majority of the population still depends on agriculture and livestock for a livelihood, even though most of the nomads and many 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 almost 50% of total exports. The decline in world demand for this ore, however, has led to cutbacks in production. With the current rises in metal prices, gold and copper mining companies are opening mines in the interior. 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 recent years, drought and economic mismanagement have resulted in a buildup of foreign debt. In March 1999, the government signed an agreement with a joint World Bank-IMF mission on a $54 million enhanced structural adjustment facility (ESAF). The economic objectives have been set for 1999-2002. Privatization remains one of the key issues.
[edit] Macro-economic trend
This is a chart of trend of gross domestic product of Mauritania at market prices estimated by the International Monetary Fund with figures in millions of Mauritanian Ougulyas.
| Year | Gross Domestic Product | US Dollar Exchange | Inflation Index (2000=100) |
|---|---|---|---|
| 1980 | 37,211 | 45.93 Ougulyas | 23 |
| 1985 | 60,197 | 77.07 Ougulyas | 36 |
| 1990 | 97,819 | 80.64 Ougulyas | 52 |
| 1995 | 158,443 | 129.76 Ougulyas | 73 |
| 2000 | 258,245 | 240.00 Ougulyas | 100 |
| 2005 | 514,642 | 265.55 Ougulyas | 144 |
Current GDP per capita of Mauritania grew 82% in the Sixties reaching a peak growth of 166% in the Seventies. But this proved unsustainable and growth consequently scaled back to 14% in the Eighties. Finally, it shrank by 29% in the Nineties.
[edit] See also
1 All twenty-seven member states of the European Union are also members of the WTO in their own right:
Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands (— For the Kingdom in Europe and for the Netherlands Antilles) • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom
Algeria · Angola · Benin · Botswana · Burkina Faso · Burundi · Cameroon · Cape Verde · Central African Republic · Chad · Comoros · Democratic Republic of the Congo · Republic of the Congo · Côte d'Ivoire (Ivory Coast) · Djibouti · Egypt · Equatorial Guinea · Eritrea · Ethiopia · Gabon · The Gambia · Ghana · Guinea · Guinea-Bissau · Kenya · Lesotho · Liberia · Libya · Madagascar · Malawi · Mali · Mauritania · Mauritius · Morocco · Mozambique · Namibia · Niger · Nigeria · Rwanda · São Tomé and Príncipe · Senegal · Seychelles · Sierra Leone · Somalia · South Africa · Sudan · Swaziland · Tanzania · Togo · Tunisia · Uganda · Zambia · Zimbabwe
Dependencies and other territories
Ceuta · Mayotte · Melilla · Puntland · Réunion · St. Helena · Somaliland · Western Sahara (SADR)
