Flag description: green with a yellow five-pointed star above a yellow, horizontal crescent; the closed side of the crescent is down; the crescent, star, and color green are traditional symbols of Islam
@Mauritania:Economy
Economy - 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 buildup of foreign debt. In March 1999, the government signed an agreement with a joint World Bank-IMF mission on a $54 million enhanced structural adjustment facility (ESAF). The economic objectives have been set for 1999-2002. Privatization remains one of the key issues. Mauritania is unlikely to meet ESAF's annual GDP growth objectives of 4%-5%.
GDP: purchasing power parity - $4.9 billion (1999 est.)
GDP - real growth rate: 3.7% (1999 est.)
GDP - per capita: purchasing power parity - $1,910 (1999 est.)
GDP - composition by sector: agriculture: 25% industry: 31% services: 44% (1997)
Population below poverty line: 57% (1990 est.)
Household income or consumption by percentage share: lowest 10%: 0.7% highest 10%: 30.4% (1988)
Inflation rate (consumer prices): 9.8% (1998)