in production. The nation's coastal waters are among the richest
fishing areas in the world, but overexploitation by foreigners
threatens this key source of revenue. The country's first deepwater
port opened near Nouakchott in 1986. In recent years, drought and
economic mismanagement have resulted in a substantial buildup of
foreign debt. The government has begun the second stage of an economic
reform program in consultation with the World Bank, the IMF, and major
donor countries. Short-term growth prospects are poor because of the
heavy debt service burden, rapid population growth, and vulnerability
to climatic conditions.

GDP: purchasing power parity-$4.1 billion (1996 est.)

GDP-real growth rate: 6% (1996 est.)

GDP-per capita: purchasing power parity-$1,750 (1996 est.)

GDP-composition by sector:
agriculture: 26%
industry: 31%
services: 43% (1996)

Inflation rate-consumer price index: 4.7% (1996)

Labor force:
total: 465,000 (1981 est.); 45,000 wage earners (1980)
by occupation: agriculture 47%, services 29%, industry and commerce
14%, government 10%

Unemployment rate: 23% (1995 est.)

Budget:
revenues: $329 million
expenditures: $265 million, including capital expenditures of $75
million (1996 est.)

Industries: fish processing, mining of iron ore and gypsum

Industrial production growth rate: 7.2% (1994)

Electricity-capacity: 105,000 kW (1995)

Electricity-production: 143 million kWh (1995)

Electricity-consumption per capita: 63 kWh (1995)

Agriculture-products: dates, millet, sorghum, root crops; cattle,
sheep; fish products

Exports:
total value: $494 million (f.o.b., 1996)
commodities: fish and fish products, iron ore, gold
partners: Japan 22%, Italy 16%, France 14%

Imports:
total value: $457 million (c.i.f., 1996)
commodities: foodstuffs, consumer goods, petroleum products, capital
goods
partners: France 30%, Algeria 10%, Spain 7%, China 6%, US 3%

Debt-external: $2.5 billion (1995)

Economic aid:
recipient: ODA, $NA

Currency: 1 ouguiya (UM) = 5 khoums

Exchange rates: ouguiyas (UM) per US$1-169.880 (January 1998), 148.916
(1997), 137.222 (1996), 129.768 (1995), 123.575 (1994), 120.806 (1993)

Fiscal year: calendar year

Communications

Telephones: 17,000 (1991 est.)

Telephone system: poor system of cable and open-wire lines, minor
microwave radio relay links, and radiotelephone communications
stations (improvements being made)
domestic: mostly cable and open-w