Economy of Mali: gold, cotton, growth and external trade

Definition: the economy of Mali in brief

The economy of Mali is that of a low-income Sahelian country, according to the World Bank classification in 2025. It rests on agriculture, gold mining and cotton growing, within the West African Economic and Monetary Union, whose common currency is the CFA franc, code XOF.

Growth and structure of gross domestic product

According to the International Monetary Fund, real growth is estimated at 4.9% in 2025, with 5.7% over the first three quarters. The World Bank put it at 4.1% for the same year. The French Treasury breaks down 2024 value added into 33.4% for agriculture, 22.7% for industry and 36.7% for services.

Average inflation is estimated at 2.9% in 2025, slightly below the ceiling of 3% set by the Monetary Union. The overall budget deficit was 2.2% of gross domestic product in 2024, then 1.6% in 2025 according to International Monetary Fund estimates.

Gold, cotton and agriculture

Gold accounted for close to 80% of exports in 2025. Production nevertheless fell for the second consecutive year, to under three tonnes, because of a dispute with the country's largest producer, settled at the end of November 2025 by a payment of about 244 billion CFA francs, or 1.4% of gross domestic product.

Cotton is the other major export product. Its price is estimated at 942 CFA francs per kilogram in 2025, against 1,100 in 2024, and fuel shortages in the last quarter of 2025 delayed the harvest, transport and exports. Agriculture remains the main source of income for poor rural households, according to the World Bank. Lithium adds to gold among the country's mining products.

Foreign trade and foreign investment

Foreign trade depends on gold prices and on imports of fuel, freight and construction materials, which weighs on the current account. Hydrocarbon supplies transit through neighbouring countries and have been disrupted since September 2025.

For foreign direct investment, the French Treasury lists in 2023 the main countries of origin as Canada with 2,058 million dollars, South Africa with 1,107 million, the British Virgin Islands with 867 million, Australia with 767 million and Senegal with 291 million. France has 45 subsidiaries employing 3,215 people.

Macroeconomic framework and International Monetary Fund support

A programme monitored by International Monetary Fund staff was approved in March 2025, without a decision by the executive board. A disbursement under the rapid credit facility, of about 129 million dollars, took place in April 2025. The second and last review was completed on 18 March 2026, with all quantitative targets for end-2025 met.

Monetary policy is the responsibility of the Central Bank of West African States, which issues the Union's CFA franc, at a fixed parity with the euro. The security situation, which has deteriorated markedly since 2025 according to the World Bank, is the main risk factor for activity.