Mauritania - Economy
GDP per capita – 1204 US dollars (2018, at current prices, UNCTAD).
GDP – 5,3 bln US dollars (2018, at current prices, UNCTAD).
GDP - gross domestic product
Exports (marchandise) – 1,9 bln US Dollars (2018, at current prices, UNCTAD).
Imports (marchandise) – 2,6 bln US Dollars (2018, at current prices, UNCTAD).
Exports (services) – 167 mln US Dollars (2017, at current prices, UNCTAD).
Imports (services) – 740 mln US Dollars (2017, at current prices, UNCTAD).
Main export commodities - iron ore, fish and fish products, gold, copper, petroleum.
Main import commodities - machinery and equipment, petroleum products, capital goods, foodstuffs, consumer goods https://www.cia.gov/library/publications/the-world-factbook/geos/mr.html
Economy overview
Despite being rich in natural resources, Mauritania has one of the lowest GDP rates in Africa. A majority of the population still depends on agriculture and livestock for a livelihood, even though most of the nomads and many subsistence farmers were forced into the cities by recurrent droughts in the 1970s and 1980s. Mauritania has extensive deposits of iron ore, which account for almost 50% of total exports. With the current rises in metal prices, gold and copper mining companies are opening mines in the interior. The country's first deepwater 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. Mauritania is unlikely to meet ESAF's annual GDP growth objectives of 4%–5%.
Oil was discovered in Mauritania in 2001 in the offshore Chinguetti field. Although potentially significant for the Mauritanian economy, it remains to be seen how much it will help the country. Mauritania has been described as a "desperately poor desert nation, which straddles the Arab and African worlds and is Africa's newest, if small-scale, oil producer." There may be additional oil reserves inland in the Taoudeni basin, although the harsh environment will make extraction expensive http://en.wikipedia.org/wiki/Mauritania#Economy
Main sectors of economy
In 2007, mining industries accounted for well over 35 per cent of the Mauritanian economy, with the fish industry so much as 54% (with big changes between these industries in the power relationship). Diversification of the economy into non-mining industries remains a long-term issue. Mauritania is a net importer of food, reportedly importing 70% of its domestic food needs http://en.wikipedia.org/wiki/Economy_of_Mauritania
Finance
The currency of Mauritania is the ouguiya, currency code: MRO.
It is the only circulating currency other than the Malagasy ariary whose division units are not based on a power of ten, each ouguiya comprising five khoums (singular and plural in English meaning "one fifth").
The ouguiya was introduced in 1973, replacing the CFA franc at a rate of 1 ouguiya = 5 francs.
Exchange Rate
1 US Dollar = 358 MRO, 1 euro = 382 MRO (13.04.2017)
www.finance.yahoo.com/currency-converter
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