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, okra, sugarcane, mangoes/guavas, onions, cotton, bananas (2022).
More about the economy of Mali
Labor force 8.277 million (2023 est.)
Industrial production growth rate -0.82% (2023 est.)
Industries food processing; construction; phosphate and gold mining
Population below poverty line 44.6% (2021 est.)
Taxes and other revenues 14.16% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency Communaute Financiere Africaine francs (XOF) per US dollar -
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.)
Exchange rates 2019 585.911 (2019 est.)
Debt - external
Debt - external 2022 $3.923 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 31 December 2017 $647.8 million (31 December 2017 est.)
Reserves of foreign exchange and gold 31 December 2016 $395.7 million (31 December 2016 est.)
Current account balance
Current account balance 2022 -$1.475 billion (2022 est.)
Current account balance 2021 -$1.469 billion (2021 est.)
Current account balance 2020 -$379.683 million (2020 est.)
Public debt
Public debt 2017 35.4% of GDP (2017 est.)
Budget
Revenues $2.841 billion (2020 est.)
Expenditures $2.533 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 5.52% of GDP (2023 est.)
Remittances 2022 5.89% of GDP (2022 est.)
Remittances 2021 5.86% of GDP (2021 est.)
Household income
Lowest 10% 3.2% (2021 est.)
Highest 10% 28.3% (2021 est.)
Imports
Imports 2022 $7.942 billion (2022 est.)
Imports 2021 $7.596 billion (2021 est.)
Imports 2020 $6.339 billion (2020 est.)
Imports (partners) Cote d'Ivoire 24%, Senegal 19%, China 10%, France 6%, Burkina Faso 5% (2022)
Comodities Imports force refined petroleum, cotton fabric, broadcasting equipment, packaged medicine, gold (2022)
Exports
Imports 2022 $7.942 billion (2022 est.)
Imports 2021 $7.596 billion (2021 est.)
Imports 2020 $6.339 billion (2020 est.)
Exports (partners) UAE 74%, Switzerland 17%, Australia 5%, China 1%, Turkey 1% (2022)
Comodities Exports force gold, cotton, oil seeds, wood, fertilizers (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $57.235 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $54.387 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $52.56 billion (2021 est.)
GDP (official exchange rate) $20.905 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $2,500 (2023 est.)
Real GDP per capita 2022 $2,400 (2022 est.)
Real GDP per capita 2021 $2,400 (2021 est.)
GDP - composition, by sector of origin
Agriculture 36.8% (2023 est.)
Industry 19.4% (2023 est.)
Services 36.1% (2023 est.)
GDP - composition, by end use
Household consumption 74.3% (2023 est.)
Government consumption 17.1% (2023 est.)
Investment in fixed capital 20.1% (2023 est.)
Investment in inventories -1.9% (2023 est.)
Exports of goods and services 28.2% (2023 est.)
Imports of goods and services -37.8% (2023 est.)
Unemployment rate
Unemployment rate 2023 3.01% (2023 est.)
Unemployment rate 2022 3.09% (2022 est.)
Unemployment rate 2021 2.29% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 4.1% (2023 est.)
Male 4.1% (2023 est.)
Female 4.2% (2023 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