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.

National product: GDP - purchasing power equivalent - $2.2 billion (1992 est.)

National product real growth rate: 3.3% (1993 est.)

National product per capita: $1,050 (1992 est.)

Inflation rate (consumer prices): 11.5% (1993 est.)

Unemployment rate: 20% (1991 est.)

Budget:
revenues: $280 million
expenditures: $346 million, including capital expenditures of $61 million (1989 est.)

Exports: $432 million (f.o.b., 1992 est)
commodities: iron ore, fish and fish products
partners: Japan 27%, Italy, Belgium, Luxembourg

Imports: $413 million (c.i.f., 1992 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.)

Industrial production: growth rate 4.4% (1988 est.); accounts for almost 30% of GDP

Electricity:
capacity: 190,000 kW
production: 135 million kWh
consumption per capita: 70 kWh (1991)

Industries: fish processing, mining of iron ore and gypsum

Agriculture: accounts for 25% of GDP (including fishing); largely subsistence farming and nomadic cattle and sheep herding except in Senegal river valley; crops - dates, millet, sorghum, root crops; fish products number-one export; large food deficit in years of drought

Economic aid:
recipient: US commitments, including Ex-Im (FY70-89), $168 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $1.3 billion; OPEC bilateral aid (1979-89), $490 million; Communist countries (1970-89), $277 million; Arab Development Bank (1991), $20 million

Currency: 1 ouguiya (UM) = 5 khoums
Exchange rates: ouguiyas (UM) per US$1 - 124.480 (December 1993), 87.082 (1992), 81.946 (1991), 80.609 (1990), 83.051 (1989)

Fiscal year: calendar year

NOTE: The information regarding Mauritania on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mauritania Economy 1995 information contained here. All suggestions for corrections of any errors about Mauritania Economy 1995 should be addressed to the CIA.