APA-Bamako (Mali) This fall is attributable to the ban on livestock exports imposed by the transitional authorities in response to the economic and financial sanctions imposed by ECOWAS and UEMOA.
These are the findings of a recently published report by the Central Bank àf West African States (BCEAO) on Mali’s balance of payments for the year 2022. This document indicates that Mali’s total exports are estimated at CFA 3,353.6 billion, representing an increase of CFA659.8 billion, compared with 2021.
This positive trend is largely due to strong sales of non-monetary gold and cotton fiber. The former brought in CFA 2,726.3 billion in 2022, i.e. CFA 596.9 billion more than the previous year. This was due to the rise in the price of gold on the world market. As for the second product, it has enabled Mali to collect CFA 294.9 billion, up CFA 138.3 billion compared with 2021, due to the increase in cotton production.
On the other hand, live cattle, Mali’s third-largest export after gold and cotton, saw a decline. These live animals from Mali are highly prized in the West African sub-region, notably Côte d’Ivoire and Senegal.
However, in response to the economic and financial sanctions imposed by the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (UEMOA), which hit Mali in the first half of 2022 because of the authorities’ desire to extend the transition for a further five years, the authorities decided to ban the export of Malian animals, thus depriving neighboring countries of a large part of their red meat supplies.
This reciprocity measure had negative repercussions on the earnings of players in the livestock sector. As a result, revenues in this sector fell by CFA 77.3 billion to CFA 62.1 billion, compared with CFA139.4 billion in 2021, a drop of 55.4 percent.
According to the Central Bank of West African States (BCEAO) report on Mali’s balance of payments for 2022, the destination of Mali’s exports places the African continent in first place, with an amount of CFA 1,327.2 billion linked to the strong export of gold to South Africa. Europe comes in second with CFA 956 billion, also linked to gold, a significant proportion of which is exported to Switzerland. The Asian continent comes in third with CFA 797 billion, drained by cotton and other products.
MD/ac/fss/abj/APA