Economy - overview A majority of the population still depends on agriculture and livestockfor a livelihood, even though most of the nomads and many subsistence farmerswere 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. The decline in world demand for this ore, however, has ledto cutbacks in production. The nation's coastal waters are among the richestfishing areas in the world, but overexploitation by foreigners threatens thiskey source of revenue. The country's first deepwater port opened near Nouakchottin 1986. In recent years, drought and economic mismanagement have resultedin a substantial buildup of foreign debt. The government has begun the secondstage of an economic reform program in consultation with the World Bank, theIMF, and major donor countries. Short-term growth prospects are gloomy becauseof the heavy debt service burden, rapid population growth, and vulnerabilityto climatic conditions.

GDP purchasing power parity - $2.8 billion (1995 est.)

GDP - real growth rate 6% (1995)

GDP - per capita purchasing power parity - $1,200 (1995)

GDP - composition by sector
agriculture: 25%
industry: 31%
services: 44% (1994)

Inflation rate - consumer price index 6.5% (1995)

Labor force
total: 465,000 (1981 est.); 45,000 wage earners (1980)
by occupation: agriculture 47%, services 29%, industry and commerce 14%, government10%

Unemployment rate 20% (1991 est.)

Budget
revenues: $256 million
expenditures : $269 million, including capital expenditures of $54 million (1995)

Industries fish processing, mining of iron ore and gypsum

Industrial production growth rate 7.2% (1994)

Electricity - capacity 105,000 kW (1991)

Electricity - production 135 million kWh (1991)

Electricity - consumption per capita NA kWh

Agriculture - products dates, millet, sorghum, root crops; cattle, sheep; fish products

Exports
total value: $483 million (f.o.b., 1995 est.)
commodities: fish and fish products, iron ore, gold
partners : Japan 27%, Italy, Belgium, Luxembourg

Imports
total value: $365 million (c.i.f., 1995 est.)
commodities: foodstuffs, consumer goods, petroleum products, capital goods
partners: Algeria 15%, China 6%, US 3%, France, Germany, Spain, Italy

Debt - external $2.3 billion (1994)

Economic aid
recipient: ODA, $NA

Currency 1 ouguiya (UM) = 5 khoums

Exchange rates ouguiyas (UM) per US$1 - 141.230 (December 1996), 137.222 (1996), 129.768(1995), 123.575 (1994), 120.806 (1993), 87.027 (1992)

Fiscal year calendar year

NOTE: The information regarding Mauritania on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mauritania Economy 1997 information contained here. All suggestions for corrections of any errors about Mauritania Economy 1997 should be addressed to the CIA.