Mauritania - Market OverviewMauritania - Market Overview
Mauritania is principally a Saharan country – 75% desert. At nearly 400,000 square miles, Mauritania is slightly larger than Texas and New Mexico combined. The southern strip of Mauritania, along the Senegal River and the border with Mali, is part of the Sahel, the semi-arid belt south of the Sahara. Culturally, Mauritania straddles two distinct regions: the Sahel countries that form the northern edge of western Sub-Saharan Africa, and the Maghreb countries of North Africa.
It has long been associated with a tradition of North-South trade and is favorable to free markets, personal mobility, and entrepreneurship. The country is seeking to overcome a history of nomadic poverty while also reinforcing Arab nationalism and state-centered policies by building an urbanized society.
Mauritania offers a small but steadily growing market to investors. With a population of 4.4 million and an average per capita of US$1,296, growth has fluctuated throughout the years, due largely to the economy’s dependence on commodity prices. Growth in 2019 is expected to increase to about six percent, due mainly to the increase in the price of iron ore and diversification of the economy. With the support of the World Bank, the International Monetary Fund (IMF), and other development partners, the government has liberalized the foreign exchange system, reformed the fiscal and financial systems, and privatized a number of state-owned corporations during the last couple of decades. The government continues to promote foreign investment, which is viewed as a key driver of economic growth. Mauritania's liberal economic policies, coupled with the advent of petroleum production and exports, should favor continued capital inflows and economic growth.
Mauritania is in the early stages of a boom in their hydrocarbon sector. After U.S. company Kosmos Energy found a large deposit of natural gas off the coast of Mauritania and Senegal, four supermajor oil & gas firms have arrived in Mauritania to start their own explorations. Kosmos’ find – now owned mostly by BP – is set to produce first gas in 2022, which will double government revenue.
Prepared by the International Trade Administration. With its network of more than 100 offices across the United States and in more than 75 markets, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
It has long been associated with a tradition of North-South trade and is favorable to free markets, personal mobility, and entrepreneurship. The country is seeking to overcome a history of nomadic poverty while also reinforcing Arab nationalism and state-centered policies by building an urbanized society.
Mauritania offers a small but steadily growing market to investors. With a population of 4.4 million and an average per capita of US$1,296, growth has fluctuated throughout the years, due largely to the economy’s dependence on commodity prices. Growth in 2019 is expected to increase to about six percent, due mainly to the increase in the price of iron ore and diversification of the economy. With the support of the World Bank, the International Monetary Fund (IMF), and other development partners, the government has liberalized the foreign exchange system, reformed the fiscal and financial systems, and privatized a number of state-owned corporations during the last couple of decades. The government continues to promote foreign investment, which is viewed as a key driver of economic growth. Mauritania's liberal economic policies, coupled with the advent of petroleum production and exports, should favor continued capital inflows and economic growth.
Mauritania is in the early stages of a boom in their hydrocarbon sector. After U.S. company Kosmos Energy found a large deposit of natural gas off the coast of Mauritania and Senegal, four supermajor oil & gas firms have arrived in Mauritania to start their own explorations. Kosmos’ find – now owned mostly by BP – is set to produce first gas in 2022, which will double government revenue.
Prepared by the International Trade Administration. With its network of more than 100 offices across the United States and in more than 75 markets, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.