Mauritania:
Economy

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Other pages in this profile of Mauritania:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $5.947 billion (2007 est.)
GDP (official exchange rate)	Definition $2.756 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 0.9% (2007 est.)
GDP - per capita	Definition - World rank and map $2,000 (2007 est.)
GDP - composition by sector	Definition agriculture: 25% industry: 29% services: 46% (2001 est.)
Labor force	Definition 786,000 (2001)
Labor force - by occupation	Definition agriculture: 50% industry: 10% services: 40% (2001 est.)
Unemployment rate	Definition - World rank and map 20% (2004 est.)
Population below poverty line	Definition 40% (2004 est.)
Household income or consumption by percentage share	Definition lowest 10%: 2.5% highest 10%: 29.5% (2000)
Distribution of family income - Gini index	Definition - World rank and map 39 (2000)
Inflation rate (consumer prices)	Definition - World rank and map 7.3% (2007 est.)
Budget	Definition revenues: $421 million expenditures: $378 million (2002 est.)
Agriculture - products	Definition dates, millet, sorghum, rice, corn; cattle, sheep
Industries	Definition fish processing, mining of iron ore and gypsum
Industrial production growth rate	Definition - World rank and map 2% (2000 est.)
Electricity - production	Definition - World rank and map 248 million kWh (2005)
Electricity - consumption	Definition - World rank and map 230.6 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 68.6 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 75,000 bbl/day (2006 est.)
Oil - consumption	Definition - World rank and map 20,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 5.9 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2004)
Oil - imports	Definition - World rank and map 19,960 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$184 million (2007 est.)
Exports	Definition - World rank and map $1.395 billion f.o.b. (2006)
Exports - commodities	Definition iron ore, fish and fish products, gold
Exports - partners	Definition China 33.1%, France 9.1%, Italy 8.2%, Spain 8.2%, Japan 5.3%, Netherlands 5.1%, Belgium 4.8%, Cote d'Ivoire 4.6% (2006)
Imports	Definition - World rank and map $1.475 billion f.o.b. (2006)
Imports - commodities	Definition machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods
Imports - partners	Definition France 16.6%, China 8.4%, Spain 6.7%, US 6.1%, Belgium 5.8%, Brazil 5.4% (2006)
Debt - external	Definition - World rank and map NA
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $190.4 million (2005)
Currency (code)	Definition ouguiya (MRO)
Exchange rates	Definition ouguiyas per US dollar - NA (2007), 271.3 (2006), 267.04 (2005), 265.8 (2004), 263.03 (2003)
Fiscal year	Definition calendar year

Mauritania: Economy

Mauritania:
Economy