Foreign trade figures of Mauritania

Foreign Trade in Figures

Mauritania is very open to international trade, which represents around 104% 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. Mauritania's export composition comprises 35% iron ore (wholly produced by the state-owned mining company SNIM), 31% gold, 28% fishery products, and 3.5% copper. Based on Mauritanian statistics, the primary import category remains petroleum products, accounting for 39% of total imports (including fuel and diesel). This is followed by food products at 23% (such as oils, fats, sugar, and wheat), construction materials at 13% (including processed iron-based products), and equipment goods at 8% (data France Ministry of Finance for 2022).

In 2022, China remained the primary destination for Mauritanian exports, with imports totaling EUR 806 million. However, China's share of Mauritanian exports decreased from 41% in 2021 to 23%. Following were Canada, accounting for 18% (EUR 637 million), and Spain, at 11% (EUR 388 million). Canada is the largest importer of Mauritanian gold, with increased international prices and gold production explaining its significant position. Meanwhile, China imports nearly all of Mauritania's copper production, half of its iron production, and fishery products. The United Arab Emirates was Mauritania's top supplier, providing 18% of total imports, mainly consisting of manufactured goods. Spain ranked as the country's second-largest supplier, contributing 16% of imports, followed by Japan at 7% and France at 6%. Mauritania primarily imports petroleum products (comprising over half of total imports), food items, and equipment goods from Europe (data France Ministry of Finance for 2022).

According to WTO, in 2022, Mauritania's exports reached USD 3.2 billion (down by 2% year-on-year), whereas imports stood at USD 4.6 billion, marking a 19.6% increase vis-à-vis one year earlier. As per services, Mauritania’s exports are historically really low (at USD 219 million in 2022), whereas imports increased notably to USD 1.3 billion. According to the World Bank’s estimates, the total external trade balance for goods and services was negative by 5.7% of GDP in 2022 (from 8.6% one year earlier).