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Mali

Mali Economy Stats

Overview:

Among the 25 poorest countries in the world, Mali is a landlocked country highly dependent on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest. Mali remains dependent on foreign aid. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and some 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government has continued an IMF-recommended structural adjustment program that has helped the economy grow, diversify, and attract foreign investment. Mali is developing its cotton and iron ore extraction industries to diversify its revenue sources because gold production has started to fall. Mali has invested in tourism but security issues are hurting the industry. Mali's adherence to economic reform and the 50% devaluation of the CFA franc in January 1994 have pushed up economic growth to a 5% average in 1996-2010. Worker remittances and external trade routes for the landlocked country have been jeopardized by continued unrest in neighboring Cote d'Ivoire, however, Mali is building a road network that will connect it to all adjacent countries and it has a railway line to Senegal. In 2010, Mali experienced a regional drought that hurt livestock and livelihoods.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition, by sector of origin > Services: This entry is derived from Economy > GDP > Composition, by sector of origin, which shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Figures expressed per capita for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $1.82 billion 2013 141st out of 223
Budget surplus > + or deficit > - -1.2% of GDP 2012 56th out of 182
Debt > Government debt > Public debt, share of GDP 23.2 CIA 2014 124th out of 153
Exports $2.76 billion 2012 125th out of 189
GDP $10.31 billion 2012 122nd out of 177
GDP > Composition, by sector of origin > Services 37.4% 2012 167th out of 189
GDP > Per capita $1,136.27 per capita 2007 163th out of 183
GDP > Per capita > PPP $1,100.00 2012 173th out of 188
GDP > Purchasing power parity per capita $1,196.91 2010 160th out of 181
GDP per capita $693.98 2012 158th out of 177
Gross National Income $2.51 billion 2001 114th out of 158
Inflation rate > Consumer prices 5.4% 2012 71st out of 199
Population below poverty line 36.1% 2005 10th out of 30
Public debt 27.5% of GDP 2012 117th out of 149
Unemployment rate 30% 2004 6th out of 18

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Mali Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Mali/Economy

NationMaster

Did you know

  • 72% of people in Mali earn less than $1 per day.

Mali Economy Profiles (Subcategories)

Adjusted savings 3 Inequality 8
Aid 4 Inflation 9
Balance of payments 34 Innovation 28
Bank and trade-related lending 4 International tourism 13
Budget 10 Long-term debt 4
Changes in net 4 Merchandise 4
Commercial service 4 Merchandise imports 4
Commercial service imports 4 National accounts 100
Companies 24 Natural gas 8
Currency 11 Net capital account 4
Current account balance 5 Net current transfers 4
Current transfers 4 Net current transfers from abroad 6
Debt 91 Net errors and omissions 4
Economic aid 3 Net financial flows 24
Electricity 8 Net income 4
Entrepreneurship 12 Net income from abroad 6
Exports 3 Net trade in goods 4
External balance on goods and services 7 Net trade in goods and services 4
External debt 215 Official development assistance and official aid 4
Final 20 Oil 10
Financial sector 25 Portfolio investment 8
Foreign aid 43 Poverty 26
Foreign direct investment 10 Poverty and inequality 15
GDP 42 Public and publicly guaranteed debt service 6
GDP growth 3 Public and publicly guaranteed (PPG) debt 3
GDP per capita 4 Purchasing power parity 11
GNI 12 Reserves 6
Goods 4 Royalty and license fees 8
Goods imports 4 Savings 44
Government 7 Service 4
Government debt 6 Service imports 4
Government spending 5 Services 10
Gross capital formation 10 Spending 73
Gross domestic savings 6 Stock of direct foreign investment 4
Gross fixed capital formation 10 Tax 64
Gross national expenditure 9 Total 9
Gross savings 6 Total debt service 6
Gross value added at factor cost 9 Tourism 19
High-technology 4 Tourism expenditures 5
Household final 23 Tourism receipts 5
IBRD loans and IDA credits 4 Tourist arrivals by region of origin 7
Income 24 Trade 943
Income distribution 4 Trademark applications 3
Income payments 4 Transnational corporations 4
Income receipts 4 Use of IMF credit 4
  • Mali ranked 5th last for GDP > per capita > PPP amongst Muslim countries in 2012.
  • Mali ranked #12 for GDP > composition by sector > agriculture amongst Hot countries in 2012.
  • Mali ranked 10 places from the bottom for GDP per capita amongst Landlocked countries in 2012.