Mali Economic Structure

 

 

With an area of 1,240,278 sq. km, the Republic of Mali has a population of 12.7 million (as per 2008 estimates). Although Mali’s economy has been growing at an annual rate of just over 5% (according to 2006 estimates), the per capita GDP of $470 positions Mali as one of the world’s 10 poorest nations.[br]

Mali Economic Structure by Sector

Primary sector: Agriculture, livestock and fishery represent 32.9% of Mali’s gross domestic product (GDP). However, agricultural activities employ almost 70% of the nation’s labor force. The country produces millet, sorghum, cotton, corn, rice, livestock, sugar, groundnuts (peanuts) and tobacco. Secondary sector: Industry represents 21.3% of the country’s GDP. Mali is involved in food processing, textiles, cigarettes, fish processing, metalworking, light manufacturing, plastics and beverage bottling. Mining is a growing industry and gold represents almost 80% of Mali’s mining activity. In fact, in 2002, gold briefly overtook cotton and livestock as the country’s number one export. Tertiary sector: Services represent 45.8% of Mali’s GDP. Telecommunications and construction are the main verticals. Mali is yet to explore tourism as a potential growth booster. Mali can tap on its diverse landscapes (from desert to river banks), national parks, archeological sites and ancient cities to propel this segment. 

 

Mali Economic Structure by Region

Mali is a landlocked country and its economic growth has been stunted by political unrest, draught and policy constraints on agricultural production. The most fertile region in the country is along the banks of the Niger River, where cotton, rice, millet, corn, vegetables and tobacco are cultivated. Wheat and peanuts are grown in other parts of the country. The Niger River is also the main source of fish, which not only provides food for the area around, but also contributes to the nation’s exports. Herding activity has been heading southwards due to drought. Mali’s livestock consists of cattle, sheep and goats. In the dry areas of the north, camels are also raised.[br]

 

Mali Economic Structure: Some Statistics

• Unemployment rate: 30% (2004 estimates)

• Population below poverty line: 36.1% (2005 estimates)

• Inflation rate (consumer prices): 2.5% (2007 estimates)

• Central bank discount rate: 4.75% (December 21, 2008)