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Country Profile: Mauritania
Fact FileCapitalNouakchottOther CitiesAtar, Kifa, Aleg, Kaedi, Nema, Rosso, F'derik, SelibabyOfficial languagesArabic, FrenchAreaTotal 1,030,700 km2Population(2009est) 3,069,000CurrencyOuguiya |
Overview
Mauritania, which is officially known as the Islamic Republic of Mauritania is a country in northwest Africa. It is bordered by the Atlantic Ocean on the west, by Senegal on the southwest, by Mali on the east and southeast, by Algeria on the northeast, and by the Morocco-controlled Western Sahara on the northwest. It is named after the ancient Berber kingdom of Mauretania.
Business and Agriculture
Since most of Mauritania is populated with farmers, most of the population depends on agriculture, specifically livestock, for their well being. Mauritania also has extensive deposits of iron ore, which account for almost 50% of total exports. With the current rises in metal prices, gold and copper mining companies are opening mines in the interior. Mauritania also has some of the richest fishing waters in the world, despite overexploitation by foreign industry. The country also has a deepwater port that is used as a central hub for trade and industry.
Energy Resources
Offshore oil deposits have been recently found in the coastal waters of Mauritania, although potentially significant for the Mauritanian economy, it remains to be seen how much it will help the country. The decision will be whether to embark on this oil exploration by themselves, or to use the resource of foreign investment. Either way, Mauritania will benefit greatly from these new oil discoveries. Furthermore, Mauritania has begun research into renewable forms of energy, such as wind, solar and hydroelectric.
Future Outlook
Mauritania will look to expand its economy, especially based on the wealth of recently discovered oil reserves. Of course, the nation will also rely on its agricultural industry strength to further boost its economy. Mauritania has also become an African leader in research in renewable forms of energy, such as wind, solar and electric.
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