Thursday, June 20, 2024

Mali Economy 6-20-24

  Nominal GDP $21.309B, Per capita GDP $912.64, Population 23,293,698, Debt to GDP 38.3%, Inflation 16.6%, Unemployment 3.25%, Labor force participation rate 50.35%, Land area 471,118 sq miles, Arable land 33%, Urban 43.9%, Rural 56.1%, Exports $7.56B Imports $6.08B, Trade Surplus $1.48B.

Exports include gold (72 percent of total exports). Others include: cotton, fertilizers, oil and iron. Main export partner is South Africa (60 percent of exports). Exports to: Switzerland, Burkina Faso, Senegal and Ivory Coast.

The top exports of Mali are Gold ($7.26B), Raw Cotton ($105M), Other Oily Seeds ($39.7M), Rough Wood ($30.4M), and Iron Ore ($12.3M), exporting mostly to United Arab Emirates ($5.57B), 

Switzerland ($1.26B), Australia ($405M), China ($77.5M), and Turkey ($55.4M).

Imports include Refined Petroleum ($1.96B), Light Pure Woven Cotton ($215M), Broadcasting Equipment ($211M), Packaged Medicaments ($182M), and Gold ($171M), importing mostly from Cote d'Ivoire ($1.46B), Senegal ($1.13B), China ($581M), France ($367M), and Burkina Faso ($304M).

Malnutrition issues, lack of education and conflict are the main causes of poverty in Mali. The average wage in Mali is $1.25 per day, and more than half of the population currently lives below the international poverty line. This contributes to Mali being one of the least developed countries in the world.

Norb Leahy, Dunwoody GA Tea Party Leader

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