Economic and Political Overview

flag Mauritania Mauritania: Economic and Political Overview

In this page: Economic Indicators | Foreign Trade in Figures | Sources of General Economic Information | Political Outline

 

Economic Indicators

Mauritania's GDP growth is considerably exposed to fluctuations in global mineral commodity prices given the large share of extractive industries in the country's economy. The extractive sector's normalization (from 18.3% in 2022 to 9.4% in 2023) was the main factor behind the slight dip in overall growth in 2023 (at 6.5%, down from 6.8% in 2022). However, growth in the non-extractive sector increased to 5.9% in 2023 (from 3.8% in 2022), driven by expanded financial services, particularly mobile banking, despite slowdowns in fisheries and agriculture. According to the IMF, economic growth in 2024 was projected to slow to 4.6%, primarily due to a contraction in the extractive sector. However, growth in the non-extractive sector was expected to remain strong at 5.7%, supported by better-than-expected performance in agriculture, fisheries, and continued growth in the financial sector. Despite the start of GTA offshore gas production, economic growth in 2025 is expected to slow to 4.2%, due to a projected 23.5% decline in gold production as some mines near the end of their cycle and a downward revision in iron ore output. Growth is forecast to decelerate further to 3.7% in 2026, reflecting continued declines in gold and iron ore production, before picking up in 2027-2029, driven by higher gold and iron ore production.

Regarding public finances, as of the end of September 2024, the 2024 budget execution was in line with projections, showing a slight overall fiscal surplus, with revenue surpassing expenditure. Revenue, including grants, totalled MRU 68.0 billion, representing 16.1% of the 2024 projected GDP (66.7% of the 2024 budget). Tax revenues were 30.1% higher year-to-date compared to the same period in 2023. According to the IMF, the non-extractive primary deficit, including grants, narrowed to 3.7% of GDP from 5.2% of GDP in 2023. As a result, public debt declined further from 46.4% in 2023 to 44.3% in 2024. Inflation rose to 2.5% (y-o-y) in October 2024, up from 1.6% at the end of 2023, driven primarily by food and beverages inflation, which accounted for more than half of the increase. With inflation projected to reach 3.0% by the end of 2024 (compared to 2.5% in October 2024), and remaining entrenched at 3-4% for more than 12 months, the BCM narrowed the interest rate corridor on October 22, 2024, and reduced the policy rate from 8% to 7.25%.

Overall, the government will need to modernize the country and support education and industrial diversification to limit its dependence on raw materials price fluctuations (iron, copper, gold, quartz, cattle, and fish). To this extent, authorities have elaborated an inclusive growth strategy for the period 2017-30, planning structural reforms and significant investment in infrastructure. The three pillars of this investment strategy are inclusive economic growth, human capital development, and governance improvement. The country's unemployment rate was estimated at 10.4% in 2024 (stable year-on-year); however, modest agricultural performance and rising inflation are expected to drive the poverty rate up to 31.8% by 2027, potentially pushing an estimated 193,000 people into poverty (data World Bank). Mauritania is considered a lower-middle-income country, with a GDP per capita (PPP) estimated at USD 8,233 in 2024 by the IMF.

 
Main Indicators 2023 (E)2024 (E)2025 (E)2026 (E)2027 (E)
GDP (billions USD) 10.6510.7611.0811.6412.35
GDP (Constant Prices, Annual % Change) 6.54.44.24.25.3
GDP per Capita (USD) 2,4042,3762,3942,4602,553
General Government Gross Debt (in % of GDP) 48.244.246.247.247.0
Inflation Rate (%) 4.92.74.04.04.0
Current Account (billions USD) -0.94-0.78-0.96-0.89-0.83
Current Account (in % of GDP) -8.8-7.2-8.7-7.7-6.7

Source: IMF – World Economic Outlook Database , Latest available data

Note: (e) Estimated Data

Main Sectors of Industry

A vast desert, bordered to the west by the 700km-long Atlantic coast, to the east by the desert border with Mali, and to the south by the Senegal River, Mauritania has long thrived on its key resources of iron ore and fishery products, its main production sectors. The country also boasts large deposits of gold and copper, with many oil and gas fields discovered in recent years. The primary sector represents 18.7% of the GDP and employs nearly one-third of the workforce (World Bank, latest data available). Mauritania possesses an estimated potential for 500,000 hectares of arable land with high productivity averages, mainly in the fertile southern areas bordering the Senegal River, where irrigated agriculture is concentrated. While Mauritania produces millet, sorghum, dates, and rice, domestic cereal production only meets about one-third of the national food needs, necessitating reliance on imports, especially for sorghum, millet, and wheat. Farming, practised by Mauritanian nomads, is also a significant area of activity. The 2024 total cereal production was projected at 589,000 tonnes by FAO, close to the 2023 level and approximately 25% above the average of the previous five years.

The country possesses mineral, oil, and gas resources, constituting an expanding market. Concerning the production of liquefied natural gas, an agreement has been reached with Senegal on the equal distribution of revenues from operating the Grande Tortue Ahmeyim (GTA) offshore project, where the first production started at the end of 2024, having been delayed by more than a year. Dominated by gold, iron (Mauritania being the second-largest African producer), and copper, the mining sector represents almost 18.9% of the country’s GDP and roughly 76.3% of its exports (data from the Extractive Industries Transparency Initiative). Overall, the secondary sector (including construction) contributes to 30.6% of the country's GDP and employs 14.7% of its workforce. The manufacturing sector accounts for a mere 6% of GDP.

The tertiary sector represents more than 43.8% of the GDP and employs 52.6% of the workforce. The main sub-sectors are transport and telecommunications. Despite the potential of tourism, the sector has yet to attract significant foreign investment due to a lack of infrastructure and regulatory frameworks. Mauritania’s financial sector is overwhelmingly dominated by its banking institutions, which form the backbone of the country’s financial infrastructure. By August 2024, the number of banks stood at 17, representing a significant share of the financial system and the wider economy, with assets equivalent to 45.2% of GDP during the same period (IMF data). However, it is notable that only around 10% of the population actually holds bank accounts.

 
Breakdown of Economic Activity By Sector Agriculture Industry Services
Employment By Sector (in % of Total Employment) 32.7 14.7 52.6
Value Added (in % of GDP) 18.7 30.6 43.8
Value Added (Annual % Change) -1.0 5.8 5.8

Source: World Bank - Latest available data.

 

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Monetary Indicators 20152017201820192020
Ouguiya (MRU) - Average Annual Exchange Rate For 1 MUR 9.261.041.051.030.96

Source: World Bank - Latest available data.

 
 

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Indicator of Economic Freedom

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.

Score:
56,1/100
World Rank:
128
Regional Rank:
23

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

 
 

Country Risk

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Foreign Trade in Figures

Mauritania is very open to international trade, which represents around 91% of its GDP (World Bank – latest data available). The government has taken steps to liberalize the economy, reduce trade barriers, and promote foreign investment. Mauritania has signed several trade agreements aimed at promoting trade and investment. These include the African Continental Free Trade Area (AfCFTA), which aims to create a single market for goods and services across the continent, and the Economic Community of West African States (ECOWAS), which promotes economic integration among West African countries. The country has also signed bilateral trade agreements with several countries, including China and the United States. In 2023, mineral exports accounted for 75.1% of Mauritania’s total exports (EUR 2.5 billion), including 37.3% from gold (EUR 1.2 billion), 34.6% from iron (EUR 1.1 billion), and 3.1% from copper (EUR 107 million). Fishery products represented 19.7% of total exports (EUR 675 million – data France Ministry of Finance). As per imports, they were led by petroleum oils (34.4%), sugar (6.3%), wheat and meslin (4.6%), soya-bean oil (3.7%), and palm oil (3.2%).

In 2023, Canada was the primary destination for Mauritanian exports (24.4% of the total), followed by China (22.7%), Algeria (8.2%), Switzerland (7.4%), Spain (6.2%), and the United Arab Emirates (5.6%); whereas imports came from the United Arab Emirates (18.4%), Spain (12.8%), Belgium (10.8%), China (8.0%), and France (6.9% - data Comtrade). Canada is the largest importer of Mauritanian gold, with increased international prices and gold production explaining its significant position. Meanwhile, China imports nearly all of Mauritania's copper production, half of its iron production, and fishery products.

According to WTO, in 2023, Mauritania's exports reached USD 4 billion (up by 6.3% year-on-year), whereas imports stood at USD 5.2 billion, marking a 2.3% increase vis-à-vis one year earlier. As per services, Mauritania’s exports hit USD 209 million in 2023, whereas imports stood at USD 875 million. As per the World Bank’s estimates, the total external trade balance for goods and services was negative by 14.9% of GDP in 2023 (from 22.6% one year earlier). According to the same source, iron ore and fish exports increased by 15% and 43% year-on-year in the first half of 2024. Overall, real exports grew by 15% over the same period. It should also be noted that the first phase of the Greater Tortue Ahmeyim (GTA) offshore gas project will start in mid-2025, boosting exports and supporting domestic power generation.

 
Foreign Trade Indicators 20192020202120222023
Imports of Goods (million USD) 3,5202,7443,8605,1205,242
Exports of Goods (million USD) 2,2662,8293,2673,7784,017
Imports of Services (million USD) 7937967939430
Exports of Services (million USD) 2051932673070
Imports of Goods and Services (Annual % Change) 6.70.4-3.315.3-1.5
Exports of Goods and Services (Annual % Change) 14.3-9.2-12.916.83.5
Imports of Goods and Services (in % of GDP) 51.145.448.562.353.2
Exports of Goods and Services (in % of GDP) 42.441.439.939.738.3
Trade Balance (million USD) -570-288-606-1,002-656
Trade Balance (Including Service) (million USD) -1,158-891-1,132-1,637-1,316
Foreign Trade (in % of GDP) 93.586.888.3102.091.5

Source: WTO – World Trade Organisation ; World Bank , Latest Available Data

 

Main Partner Countries

Main Customers
(% of Exports)
2023
Canada 24.4%
China 22.7%
Algeria 8.2%
Switzerland 7.4%
Spain 6.2%
See More Countries 31.2%
Main Suppliers
(% of Imports)
2023
United Arab Emirates 18.4%
Spain 12.8%
Belgium 10.8%
China 8.0%
France 6.9%
See More Countries 43.1%

Source: Comtrade, Latest Available Data

 
 

Main Products

4.1 bn USD of products exported in 2023
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 37.3%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 34.7%
Molluscs, fit for human consumption, even smoked,...Molluscs, fit for human consumption, even smoked, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; flours, meals and pellets of molluscs, fit for human consumption 9.3%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 6.7%
Copper ores and concentratesCopper ores and concentrates 3.1%
See More Products 8.8%
4.8 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 34.4%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form 6.3%
Wheat and meslinWheat and meslin 4.6%
Soya-bean oil and its fractions, whether or not...Soya-bean oil and its fractions, whether or not refined (excl. chemically modified) 3.7%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 3.2%
See More Products 47.7%

Source: Comtrade, Latest Available Data

 
 

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Main Services

Source: United Nations Statistics Division, Latest Available Data

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Sources of General Economic Information

Ministries
Ministry of Economic Affairs and Development
Statistical Office
National Statistical Institute (in French)
Central Bank
Central Bank of Mauritania (in French)
Stock Exchange
There is no stock market or other public trading of shares in Mauritania
Search Engines
Directory of Cities, Towns and Regions in Mauritania
Economic Portals
Mauritania Internet Guide (In French)

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Political Outline

Current Political Leaders
President: Mohamed Ould Cheikh el GHAZOUANI (since 1 August 2019)
Prime Minister: Moctar Ould DIAY (since 2 August 2024)
Next Election Dates
Presidential: June 2029
Legislative: May 2028
Main Political Parties
The main political parties in Mauritania include:

- Equity Party (El Insaf): a rebranding of the Union for the Republic party; it is the main political party in the country, centre-right, liberal
- Union for Democracy and Progress (UDP): centre
- National Rally for Reform and Development (Tewassoul): Islamic democracy, religious conservatism, it is associated with the Mauritanian branch of the Muslim Brotherhood
- Republican Front for Unity and Democracy group (FRUD): centre-left to left-wing
- Dignity Party (El Karama): centre
- National Democratic Alliance (AND): centrist
- Mauritanian Party of Union and Change (HATEM): centre-right to right-wing.
Type of State
Mauritania is an Islamic Republic with a presidential system operating within a parliamentary democratic framework.
Executive Power
The chief of state is the president elected by a popular vote for a five-year term. The President's executive powers include the command of the armed forces, the right to appoint high-level executives as well as the promulgation and execution of the law. The democratic system has been restored since 2009 following a military coup.
Legislative Power
The legislature in Mauritania is unicameral. The parliament consists of the National Assembly or Al Jamiya Al Wataniya, composed of 176 statutory seats. Out of the total, 88 members are chosen from either one or two seat districts through a two-round majority system, while the remaining 88 members are elected from a single nationwide constituency through proportional representation. Within the nationwide constituency, 20 seats are specifically allocated for female candidates, 11 seats for candidates aged between 25 and 35, and 4 members are directly elected by the diaspora. All members serve 5-year terms.
The President of the Republic may dissolve the National Assembly after consultation with the Prime Minister and the President of the National Assembly.
Until 2017, the parliament had an upper house, the Senate (Majlis al-Shuyukh/Sénat), which was abolished following a referendum.
 

Indicator of Freedom of the Press

Definition:

The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).

World Rank:
94/180
 

Indicator of Political Freedom

Definition:

The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.

Ranking:
Not Free
Political Freedom:
5/7

Political freedom in the world (interactive map)
Source: Freedom in the World Report, Freedom House

 

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Latest Update: May 2025