Mali

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Mali - In Short.

Overview of Mali

Present-day Mali is named after the Mali Empire that ruled the region between the 13th and 16th centuries. At its peak in the 14th century, it was the largest and wealthiest empire in West Africa and controlled an area about twice the size of modern-day France. Primarily a trading empire, Mali derived its wealth from gold and maintained several goldfields and trade routes in the Sahel. The empire also influenced West African culture through the spread of its language, laws, and customs, but by the 16th century it fragmented into mostly small chiefdoms.  The Songhai Empire, previously a Mali dependency centered in Timbuktu, gained prominence in the 15th and 16th centuries. Under Songhai rule, Timbuktu became a large commercial center and well-known for its scholarship and religious teaching. Timbuktu remains a center of culture in West Africa today. In the late 16th century, the Songhai Empire fell to Moroccan invaders and disintegrated into independent sultanates and kingdoms. France, expanding from Senegal, seized control of the area in the 1890s and incorporated it into French West Africa as French Sudan. In 1960, French Sudan gained independence from France and became the Mali Federation. When Senegal withdrew after only a few months, the remaining area was renamed the Republic of Mali. Mali saw 31 years of dictatorship until 1991, when a military coup led by Amadou Toumani TOURE ousted the government, established a new constitution, and instituted a multi-party democracy. President Alpha Oumar KONARE won Mali’s first two democratic presidential elections in 1992 and 1997. In keeping with Mali’s two-term constitutional limit, he stepped down in 2002 and was succeeded by Amadou Toumani TOURE, who won a second term in 2007. In 2012, rising ethnic tensions and an influx of fighters – some linked to Al-Qa’ida – from Libya led to a rebellion and military coup. Following the coup, rebels expelled the military from the country’s three northern regions, allowing terrorist organizations to develop strongholds in the area. With French military intervention, the Malian Government managed to retake most of the north. However, the government’s grasp in the region remains weak with local militias, terrorists, and insurgent groups continuously trying to expand control. In 2015, the Malian Government and northern rebels signed an internationally mediated peace accord. Despite a June 2017 target for implementation of the agreement, the signatories have made little progress. Extremist groups were left out of the peace process, and terrorist attacks remain common.   Ibrahim Boubacar KEITA won the Malian presidential elections in 2013 and 2018. Aside from security and logistic shortfalls, international observers deemed these elections credible. Terrorism, banditry, ethnic-based violence, and extra-judicial military killings plagued the country during KEITA’s second term. In August 2020, the military arrested KEITA, his prime minister, and other senior members of the government and established a military junta called the National Committee for the Salvation of the People (CNSP). In September 2020, the junta established a transition government and appointed Bah N’DAW, a retired army officer and former defense minister, as interim president and Colonel Assimi GOITA, the coup leader and chairman of the CNSP, as interim vice president. The transition government’s charter allows it to rule for up to 18 months before calling a general election.  In May 2021, Colonel Assimi GOITA arrested the interim president in a second coup in an effort to slow election preparations, claiming that the transition government needed to prioritize improving security before elections occur. In June 2021, Mali’s military transitional leaders appointed Choguel Kokalla MAIGA as Prime Minister.
Value
Country Full Name
Mali
Country Code
MLI
Region
Sub-Saharan Africa
Income Group
Low income
Currency Unit
GDP
17465392916
Population
20250834
Land Area
1220190
Net National Income Per Capita
662.3375279
GDP per Capita (PPP)
2347.988174

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Mali - Economic

Economy of Mali

Among the 25 poorest countries in the world, landlocked Mali depends on gold mining and agricultural exports for revenue. The country’s fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Mali remains dependent on foreign aid.Economic activity is largely confined to the riverine area irrigated by the Niger River; about 65% of Mali’s land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government subsidizes the production of cereals to decrease the country’s dependence on imported foodstuffs and to reduce its vulnerability to food price shocks.Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold, but the pace will depend on global price trends. Although the political coup in 2012 slowed Mali’s growth, the economy has since bounced back, with GDP growth above 5% in 2014-17, although physical insecurity, high population growth, corruption, weak infrastructure, and low levels of human capital continue to constrain economic development. Higher rainfall helped to boost cotton output in 2017, and the country’s 2017 budget increased spending more than 10%, much of which was devoted to infrastructure and agriculture. Corruption and political turmoil are strong downside risks in 2018 and beyond.

Unemployment Rate

Inflation Rate

Mali - GDP Composition

GDP Composiiton & Value Added of Mali

Last Updated: Jan, 2021, Updated For 2020.

Mali - GDP, Value Added

Demographics of Mali

the overwhelming majority of the population lives in the southern half of the country, with greater density along the border with Burkina Faso as shown in this population distribution map
Geographic Location

interior Western Africa, southwest of Algeria, north of Guinea, Cote d'Ivoire, and Burkina Faso, west of Niger

Races

Bambara 33.3%, Fulani (Peuhl) 13.3%, Sarakole/Soninke/Marka 9.8%, Senufo/Manianka 9.6%, Malinke 8.8%, Dogon 8.7%, Sonrai 5.9%, Bobo 2.1%, Tuareg/Bella 1.7%, other Malian 6%, from members of Economic Community of West Africa 0.4%, other 0.3% (2018 est.)

Languages

French (official), Bambara 46.3%, Peuhl/Foulfoulbe 9.4%, Dogon 7.2%, Maraka/Soninke 6.4%, Malinke 5.6%, Sonrhai/Djerma 5.6%, Minianka 4.3%, Tamacheq 3.5%, Senoufo 2.6%, Bobo 2.1%, other 6.3%, unspecified 0.7% (2009 est.)note: Mali has 13 national languages in addition to its official language

Religion

Muslim 93.9%, Christian 2.8%, animist .7%, none 2.5% (2018 est.)

Dependency & Expectancy of Mali

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Mali - Social Media Briefing

Mali - Social Media & Social Commerce

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Politics & Policies of Mali

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, CD, ECOWAS, EITI (compliant country), FAO, FZ, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NAM, OIC, OIF, OPCW, UN, UNAMID, UNCTAD, UNESCO, UNIDO, UNISFA, UNMISS, UNWTO, UPU, WADB (regional), WAEMU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Mali

Export of Mali

Import Destination

Export Destination