Mali is among the 25 poorest countries in the world, with 65% of its land area desert or semidesert and with a highly unequal distribution of income. Economic activity is largely confined to the riverine area irrigated by the Niger. About 10% of the population is nomadic and some 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. Mali is heavily dependent on foreign aid and vulnerable to fluctuations in world prices for gold and cotton, its main exports. The government has continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, and attract foreign investment. Mali has invested in tourism and a tractor assembly factory. Mali's adherence to economic reform and the 50% devaluation of the CFA franc in January 1994 have pushed up economic growth to a 5% average in 1996-2008. Worker remittances and external trade routes for the landlocked country have been jeopardized by continued unrest in neighboring Cote d'Ivoire, however, Mali is building a road network that will connect it to all adjacent countries and it has a railway line to Senegal.
GDP (purchasing power parity):
$14.75 billion (2008 est.) country comparison to the world: 134 $14.04 billion (2007 est.)
$13.65 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate):
$8.774 billion (2008 est.)
GDP - real growth rate:
5.1% (2008 est.) country comparison to the world: 86 2.8% (2007 est.)
5.3% (2006 est.)