Economy of Mauritania
Mauritania is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Mauritania may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Mauritania exports around $2.73 billion and imports roughly $3.36 billion. 10.2% of population in the country are unemployed. The total number of unemployed people in Mauritania is 463,087. In Mauritania, 31% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Mauritania is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 2.9% of GDP. The Gini Index of the country is 39. Mauritania is experiencing good equality. The majority of citizens in Mauritania fall within a narrow range of income, although some cases may show significant differences. Mauritania has a Human Development Index (HDI) of 0.487. Mauritania has a lower medium HDI score. This indicates that the majority of citizens will struggle to attain a desirable life due to flawed economic and social systems. The Global Peace Index (GPI) for Mauritania is 2.262. The strength of legal rights index for Mauritania is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
The currency of Mauritania is Mauritanian ouguiya. The plural form of the word Mauritanian ouguiya is ouguiyas. The symbol used for this currency is UM, and it is abbreviated as MRU. The Mauritanian ouguiya is divided into Khoums; there are 5 in one ouguiya.
The depth of credit information index for Mauritania is 2, which means that information is usually insufficient, although still able to provide a certain degree of clarity; accesibility is still a major problem.
In Mauritania, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Mauritania. Locally, the central bank of Mauritania is called Banque Centrale de Mauritanie. The average deposit interest rate offered by local banks in Mauritania is 5.8%.
The government debt of Mauritania has not been calculated yet.
The corporate tax in Mauritania is set at 25%. Personal income tax ranges from 15% to 40%, depending on your specific situation and income level. VAT in Mauritania is 18%, and it is known as Sales Tax.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Mauritania is $15622 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Mauritania was last recorded at $3 million. PPP in Mauritania is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Mauritania is 5,516 billion. Based on this statistic, Mauritania is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Mauritania was last recorded at $1 million. The average citizen in Mauritania has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Mauritania averaged 6.8% in 2014. According to this percentage, Mauritania is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Mauritania.
Major industries in the country are fish processing, oil production, mining (iron ore, gold, copper). The total labor force of Mauritania is 1,312,460 people, wherein 10.2% of population in the country are unemployed. The total number of unemployed people in Mauritania is 463,087. The Industrial Production growth rate of Mauritania is 10%.To read more about industrial information within Mauritania click on industry of Mauritania.
There are 2061 km2 of arable land in Mauritania, and it comprises 0% of the country's total territory. There are 2164 km2 of cultivated land in Mauritania. The country's major agricultural crops and products are dates, millet, sorghum, rice, corn, cattle, sheep.To read more about agriculture click on agriculture of Mauritania.