The Economy of Mali is based to a large extent on agriculture, with an overwhelmingly rural population, many of whom are engaged in subsistence agriculture. Mali is among the ten poorest nations of the world, is one of the 37 Heavily Indebted Poor Countries, and is a major recipient of foreign aid from many sources, including multilateral organizations (most significantly the World Bank, African Development Bank, and Arab Funds), and bilateral programs funded by the European Union, France, United States, Canada, Netherlands, and Germany.

Before 1991, the former Soviet Union, China and the Warsaw Pact countries had been a major source of economic and military aid. The per capita gross domestic product (GDP) of Mali was $820 in 1999. Mali's great potential wealth lies in mining and the production of agricultural commodities, livestock, and fish. The most productive agricultural area lies along the banks of the Niger River, the Inland Niger Delta and the southwestern region around Sikasso.

Agriculture
Agricultural activities occupy 70% of Mali's labor force and provide 42% of the GDP. Cotton and livestock make up 75%-80% of Mali's annual exports. Small-scale traditional farming dominates the agricultural sector, with subsistence farming (of cereals, primarily sorghum, pearl millet, and maize) on about 90% of the 14,000 km² (3.4 million acres) under cultivation. Other products that Mali's economy is based on are the following:

• Rice
• Sorghum
• Livestock
• Fishing
• Gold
• Other Minerals

Economic Reform
Between 1992 and 1995, Mali implemented an economic adjustment programme that resulted in economic growth and a reduction in financial imbalances. This was reflected in the increased GDP growth rates (9.6% in 2002) and decreased inflation. GDP in 2002 amounted to US$3.2 billion, made up of agriculture 37.8%, industry 26.4% and services 35.9%.