Mali - Economy

Изображение-2: 

GDP per capita – 899 US dollars (2018, at current prices, UNCTAD).
GDP – 17,1 bln US dollars (2018, at current prices, UNCTAD).
GDP - gross domestic product

Exports (marchandise) – 3,4 bln US Dollars (2018, at current prices, UNCTAD).
Imports (marchandise) – 4,8 bln US Dollars (2018, at current prices, UNCTAD).

Exports (services) – 514 mln US Dollars (2018, at current prices, UNCTAD).
Imports (services) – 2,4 bln US Dollars (2018, at current prices, UNCTAD).

Main export commodities - cotton, gold, livestock.
Main import commodities - petroleum, machinery and equipment, construction materials, foodstuffs, textiles

Economy 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 about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government in 2011 completed an IMF extended credit facility program that has helped the economy grow, diversify, and attract foreign investment. Mali is developing its cotton and iron ore extraction industries to diversify foreign exchange revenue away from gold. Mali has invested in tourism but security issues are hurting the industry. Mali experienced economic growth of about 5% per year between 1996-2010, but the global recession and a military coup caused a decline in output in 2012. The interim government slashed public spending in the context of a declining state of security and declining international aid https://www.cia.gov/library/publications/the-world-factbook/geos/ml.html

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 http://www.fco.gov.uk/en/travel-and-living-abroad/travel-advice-by-count...

The emergence of gold as Mali's leading export product since 1999 has helped mitigate some of the negative impact of the cotton and Côte d'Ivoire crises. Other natural resources include kaolin, salt, phosphate, and limestone.

Electricity and water are maintained by the Energie du Mali, or EDM, and textiles are generated by Industry Textile du Mali, or ITEMA. Mali has made efficient use of hydroelectricity, consisting of over half of Mali's electrical power. In 2002, 700 GWh of hydroelectric power were produced in Mali http://en.wikipedia.org/wiki/Mali#Economy

The currency is CFA franc.
CFA - "Communaute Financiere Africaine" (African financial community). Frank CFA has been used since 1945.
Frank CFA (currency code XOF) is the single currency of the regional integration association – the West African Economic and Monetary Union (WAEMU, fr. – L’Union économique et monétaire ouest-africaine UEMOA).
WAEMU members - 8 countries, 7 French-speaking: Benin, Burkina Faso, Côte d'Ivoire, Mali, Niger, Senegal, Togo, 1 Portuguese-speaking: Guinea-Bissau.
The monetary policy of WAEMU is controlled by a regional bank – the Central Bank of the West African States (fr. Banque Centrale des États de l'Afrique de l'Ouest – BCEAO), headquartered in Dakar (Senegal); the franc CFA guarantor is the French treasury.
Frank CFA has a fixed exchange rate to the euro:
1 euro = 655,957 CFA francs.
Frank CFA exists in two variants, each with the same parity to the euro: the CFA franc for the countries of the West African Economic and Monetary Union (currency code XOF) and the CFA franc (currency code XAF) for the countries of the Central African Economic and Monetary Community (CEMAC), which consists of 6 members: Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, Gabon.
Although Central African CFA francs and West African CFA francs have the same monetary value against euro, West African CFA coins and banknotes are not accepted in countries using Central African CFA francs, and vice versa.