Mali Economy, Economy Of Mali

Mali ranks 10th among all the poor countries of the world.Economy of Mali depends on agriculture although, majority of the land in Mali comprises dry or arid areas. The arable land is situated in close proximity to the river Niger. The reason being, water for agriculture is channelized from the river.
Farming activities and fishing provide employment opportunities to 80% of the total workforce in Mali. Nomads make up 10% of the population of Mali.The industrial sector in Mali comprises processing of agricultural products. Mining of gold is also an industrial activity, people indulge in. Production of cotton in sub Saharan African region is headed by Mali.

Cotton is the main product of export in the country. Being the main product of export, cotton is prone to changing prices of cotton in the global market. Gold is also exported by Mali.

Livestock raising is an important part of the economy of Mali. A good number of cattle, goats Statistical data pertaining to Mali:

The main industries in Mali constitute food, mining of gold, phosphate, construction sector.

The main agricultural products are millet, corn, peanuts, cotton, rice etc.,.

Export in the year 2004 was worth USD$323 million.

Mali exports to Taiwan, Bangladesh, Thailand, China, France.

Mali imports goods from Senegal and France as in the year 2005.

Mali imports textile, machinery, petroleum and materials for construction .

Rate of unemployment in the year 2001 was 14.6%

GDP in 2006 was USD$5.847 billion.

Gross domestic product PPP in 2006 was USD$14.59 billion.

Gross domestic product real rate of growth was 5.1% in 2006.

GDP per capita (purchasing power parity) in 2006 was USD$1,200 million.

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Last Updated on : 25th June 2013