ddress NA, Nouakchott (mailing
address is B. P. 222, Nouakchott); telephone [222] (2) 526-60 or 526-63; FAX
[222] (2) 515-92
Flag:
green with a yellow five-pointed star above a yellow, horizontal crescent;
the closed side of the crescent is down; the crescent, star, and color green
are traditional symbols of Islam

:Mauritania Economy

Overview:
A majority of the population still depends on agriculture and livestock for
a livelihood, even though most of the nomads and many subsistence farmers
were forced into the cities by recurrent droughts in the 1970s and 1980s.
Mauritania has extensive deposits of iron ore, which account for almost 50%
of total exports. The decline in world demand for this ore, however, has led
to cutbacks in production. The nation's coastal waters are among the richest
fishing areas in the world, but overexploitation by foreigners threatens
this key source of revenue. The country's first deepwater port opened near
Nouakchott in 1986. In recent years, the droughts, the endemic conflict with
Senegal, rising energy costs, and economic mismanagement have resulted in a
substantial buildup of foreign debt. The government has begun the second
stage of an economic reform program in consultation with the World Bank, the
IMF, and major donor countries. But the reform process suffered a major
setback following the Gulf war of early 1991. Because of Mauritania's
support of Saddam Husayn, bilateral aid from its two top donors, Saudi
Arabia and Kuwait, was suspended, and multilateral aid was reduced.
GDP:
exchange rate conversion - $1.1 billion, per capita $535; real growth rate
3% (1991 est.)
Inflation rate (consumer prices):
6.5% (1990 est.)
Unemployment rate:
20% (1991 est.)
Budget:
revenues $280 million; expenditures $346 million, including capital
expenditures of $61 million (1989 est.)
Exports:
$436 million (f.o.b., 1990)
commodities:
iron ore, processed fish, small amounts of gum arabic and gypsum; unrecorded
but numerically significant cattle exports to Senegal
partners:
EC 43%, Japan 27%, USSR 11%, Ivory Coast 3%
Imports:
$389 million (c.i.f., 1990)
commodities:
foodstuffs, consumer goods, petroleum products, capital goods
partners:
EC 60%, Algeria 15%, China 6%, US 3%
External debt:
$1.9 billion (1990)
Industrial production:
growth rate