competent
Definition: (adjective) having the skill and knowledge needed for a particular task; capable
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Mali Economy:
Mali is among the poorest countries in the world, with 65% of its land area desert or semidesert and with a highly unequal distribution of income. Economic activity is largely confined to the riverine area irrigated by the Niger. 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. Mali is heavily dependent on foreign aid and vulnerable to fluctuations in world prices for cotton, its main export, along with gold. The government has continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, and attract foreign investment. Mali's adherence to economic reform and the 50% devaluation of the African franc in January 1994 have pushed up economic growth to a sturdy 5% average in 1996-2004. Worker remittances and external trade routes have been jeopardized by continued unrest in neighboring Cote d'Ivoire.
GDP (purchasing power parity):
$11 billion (2004 est.)
GDP — real growth rate:
4% (2004 est.)
GDP — per capita:
purchasing power parity: $900 (2004 est.)
GDP — composition by sector:
agriculture: 45%
industry: 17%
services: 38%
(2001)
Labor force:
3.93 million (2001 est.)
Labor force — by occupation:
agriculture and fishing: 80% (2001 est.)
Unemployment rate:
urban: 14.6% (2001 est.)
rural: 5.3% (2001 est.)
Population below poverty line:
64% 64% average; 30% of the total population living in urban areas; 70% of the total population living in rural areas (2001 est.)
Household income or consumption by percentage share:
lowest 10%: 1.8%
highest 10%: 40.4% (1994)
Distribution of family income — Gini index:
50.5 (1994 est.)
Inflation rate (consumer prices):
4.5% (2002 est.)
Budget:
revenues: $764 million
expenditures: $828 million including capital expenditures of NA (2002 est.)
Agriculture — products:
Cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
Industries:
food processing; construction; phosphate and gold mining
Industrial production growth rate:
NA (FY96/97 est.)
Electricity — production:
700 million kWh (2002 est.)
Electricity — consumption:
651 million kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
note: Recent hydropower developments may be providing electricity to Senegal and Mauritania
Electricity — imports:
0 kWh (2002 est.)
Oil — production:
0 bbl/day (2001 est.)
Oil — consumption:
4,000 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Exports:
$915 million (f.o.b. 2002 est.)
Exports — commodities:
cotton, gold, livestock
Exports — partners:
Thailand 5.8%, Pakistan 10%, Brazil 12.5%, Germany 5.1%, Taiwan 4%, China 31.6%, Italy 6.9%, Bangladesh 4.5%, India 4.8% (2004)
Imports:
$927 million (f.o.b. 2002 est.)
Imports — commodities:
petroleum, machinery and equipment, construction materials, foodstuffs, textiles
Imports — partners:
Cote d'Ivoire 7.6%, France 14.5%, , Senegal 9.8%, (2004)
Debt — external:
$3.3 billion (2000 est.)
Economic aid — recipient:
$596.4 million (2001 est.)
Currency:
Communaute Financiere Africaine franc (XOF)
note: Responsible authority is the Central Bank of the West African States
Exchange rates:
Communaute Financiere Africaine francs (XOF) per US$: 528.29 (2004 est.), 581.2 (2003 est.), 696.99 (2002 est.), 733.04 (2001 est.), 711.98 (2000 est.)
Fiscal year:
calendar year
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