Mali - Economy
How is the economy of Mali? Based on the information we have, Mali has a 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. Key agricultural products in this country include: maize, rice, millet, sorghum, onions, okra, sugarcane, cotton, mangoes/guavas, sweet potatoes (2023).
More about the economy of Mali
Labor force 9.126 million (2024 est.)
Industrial production growth rate -2.4% (2024 est.)
Industries food processing; construction; phosphate and gold mining
Population below poverty line 44.6% (2021 est.)
Taxes and other revenues 12% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2024 606.345 (2024 est.)
Exchange rates 2023 606.57 (2023 est.)
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Debt - external
Debt - external 2023 $4.085 billion (2023 est.)
Current account balance
Current account balance 2023 -$1.61 billion (2023 est.)
Current account balance 2022 -$1.475 billion (2022 est.)
Current account balance 2021 -$1.469 billion (2021 est.)
Budget
Revenues $2.841 billion (2020 est.)
Expenditures $2.533 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 4.2% of GDP (2023 est.)
Remittances 2022 4.9% of GDP (2022 est.)
Remittances 2021 4.9% of GDP (2021 est.)
Household income
Lowest 10% 3.2% (2021 est.)
Highest 10% 28.3% (2021 est.)
Imports
Imports 2023 $8.066 billion (2023 est.)
Imports 2022 $7.942 billion (2022 est.)
Imports 2021 $7.596 billion (2021 est.)
Imports (partners) Cote d'Ivoire 25%, Senegal 19%, China 12%, France 5%, Burkina Faso 4% (2023)
Comodities Imports force refined petroleum, broadcasting equipment, cement, cotton fabric, plastic products (2023)
Exports
Imports 2023 $8.066 billion (2023 est.)
Imports 2022 $7.942 billion (2022 est.)
Imports 2021 $7.596 billion (2021 est.)
Exports (partners) UAE 73%, Switzerland 15%, Australia 5%, China 1%, Uganda 1% (2023)
Comodities Exports force gold, cotton, oil seeds, fertilizers, gum resins (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $71.253 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $67.857 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $64.8 billion (2022 est.)
GDP (official exchange rate) $26.588 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $2,900 (2024 est.)
Real GDP per capita 2023 $2,900 (2023 est.)
Real GDP per capita 2022 $2,800 (2022 est.)
GDP - composition, by sector of origin
Agriculture 33.4% (2024 est.)
Industry 22.7% (2024 est.)
Services 36.7% (2024 est.)
GDP - composition, by end use
Household consumption 71.9% (2024 est.)
Government consumption 13.1% (2024 est.)
Investment in fixed capital 21.6% (2024 est.)
Investment in inventories -0.7% (2024 est.)
Exports of goods and services 22.5% (2024 est.)
Imports of goods and services -28.4% (2024 est.)
Unemployment rate
Unemployment rate 2024 3.1% (2024 est.)
Unemployment rate 2023 3% (2023 est.)
Unemployment rate 2022 2.4% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 4% (2024 est.)
Male 4% (2024 est.)
Female 3.9% (2024 est.)
All Important Facts about Mali

Want to know more about Mali? Check all different factbooks for Mali below.

Mali is found in Western Africa