Foreign trade figures of Mauritania

Foreign Trade in Figures

Mauritania is very open to international trade, which represents around 100% of its GDP (World Bank – latest data available). The government has taken steps to liberalize the economy, reduce trade barriers, and promote foreign investment. Mauritania has signed several trade agreements aimed at promoting trade and investment. These include the African Continental Free Trade Area (AfCFTA), which aims to create a single market for goods and services across the continent, and the Economic Community of West African States (ECOWAS), which aims to promote economic integration among West African countries. The country has also signed bilateral trade agreements with several countries, including China and the United States.
Its main exports include iron (around 50% of total exports, wholly produced by the state-owned mining company SNIM), fisheries (of which molluscs accounted for 11.3% and frozen fish for 8.5% in 2021), gold (9.9%), and copper (7.9%); whereas imports are led by petroleum products (around 25% of total imports), followed by food products, machinery and equipment (data Comtrade 2021).

In 2021, the main export partners were China (41.5%), Italy (10.7%), Canada (9.9%), Spain (9.6%) and Japan (6.9%). In the same year, imports came chiefly from Spain (14.9%), the UAE (14%), France (11.4%), Belgium (6.8%), and China (5.8%). Overall, Europe remained the biggest trading partner of Mauritania. While regional trade remains essentially informal and unrecorded, there has recently been a surge in fish exports to some West African countries, especially Cote d'Ivoire and Nigeria (WTO).

After a fall in exports of iron and other minerals in 2011, the country's trade balance has remained deep in negative numbers due to the increased level of imports. In 2021, Mauritania's exports reached USD 4.3 billion (up by almost 53.5% year-on-year), whereas imports stood at USD 3.5 billion, marking a 29.8% increase vis-à-vis one year earlier. As per services, Mauritania’s exports are historically really low (at USD 193 million in 2021), the same as for imports (USD 782 million). According to the World Bank’s estimates, the total external trade balance for goods and services was negative by 21.5% of GDP in 2021 (from 13.3% one year earlier).