Economy of Mauritania

Economy of Mauritania
CurrencyOuguiya (MRU, UM)
Calendar Year
Trade organisations
AU, AfCFTA, AfDB, CEN-SAD, WTO, Group of 77
Statistics
GDP
  • Increase $10.966 billion (nominal, 2023 est.)[1]
  • Increase $32.948 billion (PPP, 2023 est.)[1]
GDP growth
  • 2.0% (2016) 3.0% (2017)
  • 3.6% (2018e) 6.7% (2019f)[2]
GDP per capita
  • Increase $2,475 (nominal, 2023 est.)[1]
  • Increase $7,437 (PPP, 2023 est.)[1]
GDP by sector
agriculture (14.9%)
industry (48.0%)
services (37.1%) (2012 est.)
3.053% (2018 est.)[1]
Population below poverty line
40% (2004 est.)
39 (2000)
  • Decrease 0.556 low (2021)[3] (158st)
  • 0.358 IHDI (2018)[4]
Labour force
1.318 million (2007)
Labour force by occupation
agriculture (50.0%)
industry (2%)
services (48%) (2001 est.)
Unemployment30% (2008 est.)
Main industries
mining (iron ore, gold, copper, gypsum), petroleum, fish processing
External
ExportsIncrease $4.14 billion (2021)
Export goods
iron ore, petroleum, gold, copper, gypsum, fish
Main export partners
 China 42.5%
 Spain 9.39%
 Canada 8.13%
 Turkey 6.72%
 Japan 6.1%
 Italy 5.1%
 Germany 2.58%
 Australia 3.36%
 Cote d'Ivoire 2.55%
 Russia 1.18% (2021)[5]
ImportsIncrease $4.72 billion (2021)
Import goods
machinery, petroleum products, food
Main import partners
 China 20.1%
 Turkey 11.8%
 France 7.98%
 United Arab Emirates 6.53%
 Indonesia 5.72%
 Spain 4.57%
 USA 3.07%
 Belgium 2.93%
 Netherlands 2.33% (2021)[6]
Increase $2.897 billion (31 December 2012 est.)
Public finances
Revenues$1.143 billion (2012 est.)
Expenses$1.263 billion (2012 est.)
All values, unless otherwise stated, are in US dollars.


Mauritanian exports in 2006

The economy of Mauritania is still largely based on agriculture, slave labour and livestock, even though most of the nomads and many subsistence farmers were forced into the cities by recurring droughts in the 1970s and 1980s.

Train carrying iron ore.

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 rise 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 deep water 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-International Monetary Fund 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.

  1. ^ a b c d e "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 23 April 2023.
  2. ^ "Global Economic Prospects, June 2019: Heightened Tensions, Subdued Investment. p. 127" (PDF). openknowledge.worldbank.org. World Bank. Retrieved 15 November 2019.
  3. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 9 September 2022.
  4. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  5. ^ "Mauritania trade balance, exports and imports by country 2022". OEC. 2021. Retrieved 2021-10-25.
  6. ^ "Mauritania trade balance, exports and imports by country 2021". OEC. 2021. Retrieved 2022-10-25.}