Basic Country Facts

Economy Economic overview: 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. The decline in world demand for this ore, however, has led to cutbacks in production. The nation's coastal waters are among the richest fishing areas in the world, but overexploitation by foreigners threatens this key source of revenue. The country's first deepwater port opened near Nouakchott in 1986. In recent years, drought and economic mismanagement have resulted in a substantial buildup of foreign debt. The government has begun the second stage of an economic reform program in consultation with the World Bank, the IMF, and major donor countries. Short-term growth prospects are gloomy because of the heavy debt service burden, rapid population growth, and vulnerability to climatic conditions. GDP: purchasing power parity - $2.8 billion (1995 est.) GDP real growth rate: 4% (1995 est.) GDP per capita: $1,200 (1995 est.) GDP composition by sector: agriculture: 27.1% industry: 29.5% services: 43.4% (1993 est.) Inflation rate (consumer prices): 3.5% (1995 est.) Labor force: 465,000 (1981 est.); 45,000 wage earners (1980) by occupation: agriculture 47%, services 29%, industry and commerce 14%, government 10% Unemployment rate: 20% (1991 est.) Budget: revenues: $254 million expenditures: $280 million, including capital expenditures of $94 million (1994 est.) Industries: fish processing, mining of iron ore and gypsum Industrial production growth rate: NA% Electricity: capacity: 110,000 kW production: 135 million kWh consumption per capita: 61 kWh (1993) Agriculture: dates, millet, sorghum, root crops; cattle, sheep; fish products Exports: $390 million (f.o.b., 1994 est.) commodities: iron ore, fish and fish products partners: Japan 27%, Italy, Belgium, Luxembourg Imports: $355 million (c.i.f., 1994 est.) commodities: foodstuffs, consumer goods, petroleum products, capital goods partners: Algeria 15%, China 6%, US 3%, France, Germany, Spain, Italy External debt: $1.9 billion (1992 est.) Economic aid: recipient: ODA, $NA Currency: 1 ouguiya (UM) = 5 khoums Exchange rates: ouguiyas (UM) per US$1 - 135.690 (January 1996), 129.768 (1995), 123.575 (1994), 120.806 (1993), 87.027 (1992), 81.946 (1991) Fiscal year: calendar year