Sub Saharan Africa

Mali
Last reviewed: 25 February 2009

Country information

See entire profile

Economy

Basic economic facts

GDP (per capita): $1200 million (2008)
GDP growth: 4.0% (2008 est.)
Inflation: 2.5% (2008 )
Main sectors: food processing; construction; phosphate, gold mining cotton, corn, vegetables, livestock.
Main exports: cotton, gold, livestock.
Main trading partners: China, Pakistan, France, Senegal, Cote d'Ivoire.
Exchange rate: £1 = 1000 CFA Francs.

The majority of Malians survive on animal husbandry or the production of subsistence crops or cereals. The country's main exports are gold, which provides 60% of exports by value and cotton, which provides 24% of export value. Gold production is set to rise with the opening of new mines. The cotton sector is adversely affected by falling international prices, but the government is attempting to expand the cotton processing and textile sectors, to ensure the maximum benefits of cotton production for the country. Mali imports some of its food requirements and its economy is adversely affected by the rising price of oil. Mali has a record on economic reform and compliance with IMF programmes. The government is engaged in a privatisation programme, covering the cotton sector and telecommunications.

International Monetary Fund (IMF)