Mali Economy - 2024

Economic overview

low-income Saharan economy; recession due to COVID-19 and political instability; extreme poverty; environmentally fragile; high public debt; agricultural and gold exporter; terrorism and warfare are common

Real GDP (purchasing power parity)

$46.452 billion (2021 est.)
$45.076 billion (2020 est.)
$45.64 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.05% (2021 est.)
-1.24% (2020 est.)
4.76% (2019 est.)

Real GDP per capita

$2,100 (2021 est.)
$2,100 (2020 est.)
$2,200 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$17.508 billion (2019 est.)

Inflation rate (consumer prices)

3.93% (2021 est.)
0.44% (2020 est.)
-1.66% (2019 est.)

Credit ratings

Moody's rating: Caa1 (2020)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 41.8% (2017 est.)

industry: 18.1% (2017 est.)

services: 40.5% (2017 est.)

GDP - composition, by end use

household consumption: 82.9% (2017 est.)

government consumption: 17.4% (2017 est.)

investment in fixed capital: 19.3% (2017 est.)

investment in inventories: -0.7% (2017 est.)

exports of goods and services: 22.1% (2017 est.)

imports of goods and services: -41.1% (2017 est.)

Agricultural products

maize, rice, millet, sorghum, mangoes/guavas, cotton, watermelons, green onions/shallots, okra, sugar cane

Industries

food processing; construction; phosphate and gold mining

Industrial production growth rate

1.01% (2021 est.)

Labor force

7.9 million (2021 est.)

Unemployment rate

7.72% (2021 est.)
7.7% (2020 est.)
7.44% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 17.3% (2021 est.)

male: 15.4%

female: 19.8%

Population below poverty line

42.1% (2019 est.)

Gini Index coefficient - distribution of family income

36.1 (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.5%

highest 10%: 25.8% (2010 est.)

Remittances

5.71% of GDP (2020 est.)
5.62% of GDP (2019 est.)
5.99% of GDP (2018 est.)

Budget

revenues: $2.657 billion (2018 est.)

expenditures: $3.467 billion (2018 est.)

Budget surplus (+) or deficit (-)

-2.9% (of GDP) (2017 est.)

Public debt

35.4% of GDP (2017 est.)
36% of GDP (2016 est.)

Taxes and other revenues

14.16% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$379.683 million (2020 est.)
-$1.289 billion (2019 est.)
-$836.255 million (2018 est.)

Exports

$5.196 billion (2020 est.) note: data are in current year dollars
$4.442 billion (2019 est.)
$4.186 billion (2018 est.)

Exports - partners

United Arab Emirates 66%, Switzerland 26% (2019)

Exports - commodities

gold, cotton, sesame seeds, lumber, refined petroleum (2021)

Imports

$6.339 billion (2020 est.) note: data are in current year dollars
$6.559 billion (2019 est.)
$6.081 billion (2018 est.)

Imports - partners

Senegal 23%, Cote d'Ivoire 15%, China 11%, France 9% (2019)

Imports - commodities

refined petroleum, clothing and apparel, packaged medicines, cement, broadcasting equipment (2019)

Reserves of foreign exchange and gold

$647.8 million (31 December 2017 est.)
$395.7 million (31 December 2016 est.)

Debt - external

$4.192 billion (31 December 2017 est.)
$3.981 billion (31 December 2016 est.)

Exchange rates

Communaute Financiere Africaine francs (XOF) per US dollar -

Exchange rates:
554.531 (2021 est.)
575.586 (2020 est.)
585.911 (2019 est.)
555.446 (2018 est.)
580.657 (2017 est.)