Economy

Mali is among the ten poorest nations of the world and is dependent upon foreign aid. Its economy is based to a large extent on agriculture, even though 65% of its land area is desert or semi-desert. Industrial activity is concentrated on processing farm commodities.

The most productive agricultural area lies along the banks of the Niger River between Bamako and Mopti and extends south to the borders of Guinea, Côte d'Ivoire and Burkina Faso. This area is most important for the production of cotton, rice, millet, maize, vegetables, tobacco and tree crops. About 80% of the labour force is engaged in farming and fishing, whilst some 10% of the population is nomadic.

Pottery is practised by women whose wares are bought by dealers and are transported to markets where they are sold by traders. The traditional methods used by the potters are an attraction to foreign tourists.

Mali is heavily dependent on foreign aid and vulnerable to fluctuations in world prices for cotton, its main export. In 1997, the government continued its implementation of an IMF-recommended structural adjustment program.

Mining is a rapidly growing industry in Mali, with gold accounting for some 80% of mining activity. There are considerable proven reserves of other minerals not currently exploited. Gold has become Mali's third-largest export, after cotton and livestock. There are two large private investments in gold mining: Anglogold-Ashanti ($250 million) in Sadiola and Yatela, and Randgold ($140 million) in Morila - both multinational South African companies located respectively in the north-western and southern parts of the country.