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 | -1.19% (2023 est.) |
| Industries | food processing; construction; phosphate and gold mining |
| Population below poverty line | 44.6% (2021 est.) |
| Taxes and other revenues | 14.2% (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.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2017 | $647.8 million (2017 est.) |
| Reserves of foreign exchange and gold 2016 | $395.7 million (2016 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.) |
| 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 | 5.58% 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 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) 2023 | $56.919 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) | $20.662 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $2,400 (2023 est.) |
| Real GDP per capita 2022 | $2,400 (2022 est.) |
| Real GDP per capita 2021 | $2,300 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 35.1% (2023 est.) |
| Industry | 19.9% (2023 est.) |
| Services | 36.7% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 74.2% (2023 est.) |
| Government consumption | 17.5% (2023 est.) |
| Investment in fixed capital | 19.2% (2023 est.) |
| Investment in inventories | -0.3% (2023 est.) |
| Exports of goods and services | 29.4% (2023 est.) |
| Imports of goods and services | -40% (2023 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.
