Economy, Currency, Banking, and Trade

The monetary unit is the CFA franc, consisting of 100 centimes (712 francs equal U.S.$1; 2000 average). The Central Bank of the West African States assumes Mali’s central banking functions.

Most foreign trade operations are in the hands of the state. Principal exports include gold, cotton, livestock, processed foodstuffs, and mangoes. The value of exports in 2000 was $510 million. Imports, typically petroleum products, motor vehicles, food products, machinery, and chemicals, amounted to $690 million. Chief purchasers of Mali’s exports are Belgium, China, Spain, France, Cote d’Ivoire, and Germany; leading sources of imports are Cote d’Ivoire, France, the United Kingdom, Belgium, China, Germany, and Spain.