Mali+Economics



= Economics in Mali = Economics is the branch of social science that deals with the production, distribution and consumption of goods and services and their management.

**Currency**
The Malian franc was replaced in June 1984 by the Communaute Financiere Africaine franc (CFA Fr). There are coins of 1, 2, 5, 10, 25, 50. Communaute Financiere Africaine francs (CFA Fr) per US$1 – 647.25
 * =History = || =Geography= || =Culture= || =Economics= || =Politics= || =Class Activities= || =Resources = ||

**Basic Economy**
Among the 25 poorest countries in the world, Mali is a landlocked country highly dependent on gold mining and agricultural exports for revenue. Being highly dependent on variable natural resources, ports in neighboring countries, and fluctuating trade Mali’s economic performance is fragile. In Mali 65% of its land area is desert or semidesert and economic activity is largely confined to the riverine area irrigated by the Niger River. The productive agricultural area lies along the banks of the Niger River, the Inner Niger Delta and the southwestern region around Sikasso. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Mali is the second largest producer of cotton in Africa, food crops include: rice, millet, sorghum, fonio, peanuts, and corn, and livestock (cattle, sheep, and goats). The major industries are: food processing; construction; phosphate and gold mining. Mali has invested in tourism but security issues are hurting the industry. It remains highly dependent on foreign aid, is one of the 37 heavily indebted poor countries, and is a major recipient of foreign aid from many sources. Most significantly the World Bank, African Development Bank, and Arab Funds, European Union, France, United States, Canada, Netherlands, and Germany.

GDP: $18.26 billion GDP composition by sector: //agriculture: // 45% //industry: // 17% //services: // 38% Per capita income: $691. Annual skilled worker's salary: $1,560.

**Trade**
Exports: Cotton, gold, livestock  $2.7 billion <span style="font-family: 'Arial','sans-serif';"> Partners: China, Indonesia, Thailand, Burkina Faso, Morocco, South Korea

<span style="font-family: 'Arial','sans-serif';">Imports: Petroleum, machinery and equipment, construction materials, foodstuffs, textiles <span style="font-family: 'Arial','sans-serif';"> $2.942 billion <span style="font-family: 'Arial','sans-serif';"> Partners: France, Senegal, Côte d'Ivoire

**Division of Labor**
<span style="font-family: 'Arial','sans-serif';">Employment in the formal economy, at best, approximates 6 percent of the total economically active population.The large majority of the population is involved in the "informal" sectors of the economy or are unemployed. Unemployment is much higher among the educated elites because of the lack of employment opportunities in the modern sector. Agriculture, forestry, and fishing employ 83 percent of the total active population. Other occupational sectors include the craft industry and trade. In order for Malians to provide for their families, they are often forced to take on several jobs at the same time, a situation rarely expressed by official statistics.

**The Status of Men & Women**
<span style="font-family: 'Arial','sans-serif';">In general, women are less represented than men in the more lucrative sectors of the economy. However, there are significant differences among women. For instance, women's living conditions in the rural areas often differ from those of urban women. In general, rural women have a much heavier workload and reduced access to health care than city women. There are significant class differences, especially in the cities. There certainly are some common issues that most women are confronted with, such as a strong emphasis on women's role in the socialization and education of children, and inheritance practices. The ways in which a woman is affected by these issues vary significantly depending upon her location, her education, her class, and her relationship with her husband.

**Other Statistics**
Labor Force 3.241 million

Labor Force by Occupation agriculture: 80% industry and services: 20%

Unemployment Rate 30%

Population below poverty line: 64% average; 30% of the total population living in urban areas; 70% of the total population living in rural areas

Resources http://www.africaneconomicoutlook.org/en/countries/west-africa/mali/ http://goafrica.about.com/library/bl.mapfacts.mali.htm http://www.nationsencyclopedia.com/Africa/Mali.html http://www.nationsonline.org/oneworld/mali.htm http://www.greeneconomycoalition.org/document/mali-national-dialogue