Economy Type
**Minerals–Fisheries–Emerging Gas Economy
(Mineral and fisheries-based emerging gas economy)**
Mauritania is classified as a Mineral–Fisheries–Emerging Gas Economy country.
The Mauritanian economy relies heavily on the export of iron ore, gold, copper, and seafood, and began transitioning into a maritime LNG exporter starting in 2025. Its strengths include Atlantic coastal ports, a vast territory, and a location connecting the Sahel and North Africa, but industrial diversification, power and logistics, poverty, climate, and institutional capacity remain major challenges.
The IMF estimates that growth will slow to about 4.2% in 2025 due to a contraction in the mining sector following high growth in 2024, and forecasts growth of about 4.4% in 2026. Non-mining activities, infrastructure, and private investment are assessed to support medium-term growth.
Country Definition
Mauritania is an Atlantic Sahel resource economy where LNG is being added as a new growth axis to iron ore, gold, and fisheries resources, but it continues to rely on resource exports and has low industrial-employment linkages.
Why It Matters
Mauritania is a major iron ore producer and exporter in Africa, with gold and seafood being key sources of foreign exchange earnings. In 2024, gold accounted for 35.9% of merchandise exports, iron ore 28.3%, frozen octopus 9.2%, and copper ore 5.0%. The total value of merchandise exports was approximately $4.15 billion.
In addition, Mauritania became an LNG exporting country as the Greater Tortue Ahmeyim offshore gas project, jointly developed with Senegal, produced its first LNG in February 2025 and exported its first cargo in April. This project is a strategic initiative that can transform the structure of future energy exports, domestic power generation, and industrial investment.
Korea Perspective
For South Korea, Mauritania is a country with greater potential for long-term cooperation in the fields of LNG, fisheries, mining equipment, ports and railways, solar power and green hydrogen, and food processing than in iron ore, copper, and gold.
Korean companies are better suited to the following linked approach rather than simple resource purchasing.
- LNG and Gas Power Generation and Storage
- Mining Automation, Safety, and Transportation Equipment
- Railway, port, and logistics infrastructure
- Seafood processing, refrigeration, and freezing
- Solar power and desalination
- Fertilizer and Green Hydrogen Demonstration
- Technical training and on-site maintenance system
Key Keywords
- Iron Ore
- Gold
- Copper
- LNG
- Fisheries
- Nouadhibou
- Atlantic Gateway
- Sahel
- Renewable Energy
- Economic Diversification
Mauritania is located on the Atlantic coast of Northwest Africa and shares borders with Western Sahara, Algeria, Mali, and Senegal. The capital is Nouakchott, and the major industrial port is Nouadibou.
The political system is a presidential republic, and it possesses a complex national identity at the intersection of the Arab world and Sub-Saharan Africa. Arabic is the official language, and French is also widely used in administration and business.
The population is approximately 4.7 million, and most of the country is desert. Population and economic activity are concentrated in Nouakchott, Nouadibou, and the Senegal River basin. The IMF projects the population to reach approximately 4.73 million by 2026.
Key Features
- Atlantic coastal Sahel countries
- Iron ore, gold, and fisheries-centered economy
- New entry into LNG exporting countries
- Low population density and vast territory
- Location connecting the Arab world and West Africa
- High youth employment and poverty challenges
The Mauritanian economy is centered on mining, fisheries, livestock, agriculture, construction, transportation, public services, and distribution.
The World Bank estimated the growth rate for 2024 at approximately 5.2%, citing a slowdown in mining production and weakening public spending as factors that lowered the figure compared to the previous year. The IMF projected a growth rate of 6.3% for 2024 based on different calculation standards, but estimated that it slowed to 4.2% in 2025 due to a contraction in the mining sector. Since the differences in figures between institutions stem from variations in statistical standards and estimation timelines, they should be interpreted based on their directional nature.
Although economic growth is relatively robust, structural problems include the limited job creation capacity of the resource industry and a labor market participation rate of less than 50%. The World Bank identifies diversification in the agriculture, fisheries, energy, and digital sectors as key tasks.
Market characteristics
- Dependence on resource exports and public investment
- Low purchasing power relative to the population
- central market of the capital and port city
- The informal economy accounts for a large portion.
- Imported products are highly price-sensitive
- Significant influence on projects and government procurement
MarketHub Point
Mauritania should be approached through the mining, gas, fisheries, energy, and infrastructure project markets rather than the general consumer goods market.
Mauritania's key industries are iron ore, gold, copper, LNG, fisheries, and livestock farming.
Iron ore is exported via a dedicated railway connecting Noudibouhang and inland mines. In 2024, iron ore exports amounted to approximately $1.17 billion, with China being the largest buyer.
Gold is the largest single export, and copper mines are also an important source of foreign exchange. However, due to high dependence on specific mines and international prices, a decrease in production directly affects the national growth rate and public finances.
The fisheries industry focuses on octopus, frozen fish, and tuna, exporting to European and Asian markets. Although marine resources are abundant, the high proportion of raw material exports necessitates advancements in refrigeration, processing, packaging, and traceability.
GTA LNG is a new industrial axis. With the first LNG export in 2025, natural gas has begun to be incorporated into the national export structure, and if it leads to the supply of domestic electricity and industrial gas in the future, the effect of industrial diversification could be significant.
Key industries
- ironstone
- Gold and copper mining
- LNG and natural gas
- Fisheries and fishery processing
- Livestock and leather
- Ports and railways
- Construction and Infrastructure
- Solar power and green hydrogen
Key Competitive Resources
- large iron ore deposits
- Gold and copper mineral-based
- Abundant Atlantic fishery resources
- Offshore natural gas
- High solar and wind power potential
- Atlantic location close to Europe
MarketHub Point
The core of Mauritania's industrial transformation is to expand from the export of raw ore and fish to gas power generation, mineral processing, fisheries processing, and low-carbon energy industries.
Mauritania's merchandise exports are concentrated on gold, iron ore, seafood, and copper mines. The export structure is highly concentrated, with the top four items accounting for approximately 78% of total merchandise exports in 2024.
Imports are centered on machinery, vehicles, petroleum products, food, electrical and electronic goods, pharmaceuticals, and construction materials. According to World Bank WITS data, goods imports exceed goods exports, resulting in a trade deficit.
The logistics hubs are the ports of Nouadibou and Nouakchott. Nouadibou is a center for mineral and fisheries exports, while Nouakchott is a major gateway for consumer goods and project cargo. Due to limited inland road and rail networks, transportation costs are high in mining, rural, and border regions.
major trading partners
- china
- Swiss
- Spain
- japan
- Italy
- france
- United Arab Emirates
- Algeria
- Senegal
Supply chain characteristics
- Exports centered on gold, iron ore, and fisheries
- Dependence on imports of machinery, food, and fuel
- Nuadi Cupping · Nuak Short Cupping Intensive
- Mining railway is important
- Lack of inland transportation network
- Sensitive to fluctuations in ocean freight and mineral prices
MarketHub Point
The key to Mauritania's supply chain is connecting mines and fisheries through ports, railways, and cold storage networks, and increasing added value at the pre-export stage.
In Mauritania, the government, state-owned enterprises, mining companies, energy firms, and international development agencies are the main clients. When conducting a feasibility study, mining rights, gas contracts, local partners, taxes, foreign exchange, public procurement, and payment collection structures must be verified before contract terms.
The gas and mining sectors involve large investment scales and are highly influenced by policy. Since the GTA project is structured as a joint development with Senegal, regulations, production distribution, environmental management, and the role of state-owned enterprises in both countries must be reviewed together.
The fisheries, agriculture, and energy sectors offer relatively higher potential for participation by small and medium-sized Korean companies compared to large-scale resource development. In particular, local training, parts, and maintenance networks are essential because maintenance is difficult with equipment supply alone.
Market characteristics
- The government and state-owned enterprises have significant influence.
- Project-based B2B market
- French and Arabic needed for business
- Local networks and administrative procedures are important
- Installation, training, and maintenance requirements
- Verification of contract, foreign exchange, and payment terms is essential.
Key Opportunities
- Mining Equipment, Automation, and Safety
- Railway, Port, and Bulk Logistics
- LNG and gas power generation
- Solar Power & ESS
- Seafood processing and cold chain
- Desalination and Water Treatment
- Farm machinery and irrigation
- Livestock and meat processing
- Digital Administration and Customs Clearance
- Green hydrogen and ammonia infrastructure
Major Risks
- Resource price fluctuations
- Mining and Gas Policy Change
- Low administrative and enforcement capacity
- Payment collection and foreign exchange risk
- Inland logistics shortage
- Poverty and employment imbalance
- Climate, drought, and desertification
- Mali border security risk
- Environmental and social conflicts
Mauritania's future will depend on whether it uses LNG imports for short-term fiscal expansion or invests in electricity, industry, human capital, and economic diversification.
The IMF assesses the medium-term outlook positively based on infrastructure and private investment, but identifies mining production, global uncertainty, and regional security as downside risks. The growth forecast for 2026 is approximately 4.4%.
The World Bank emphasizes that the development of agriculture, fisheries, energy, and digital industries is necessary to expand the production base outside of mining and increase employment in the long term.
If GTA LNG operates stably and connects to domestic gas power generation and industrial energy, it could help reduce electricity costs and improve the manufacturing base. Conversely, if issues regarding profit sharing, the environment, and contract transparency escalate, there is a possibility that it will repeat the existing limitations of the resource economy.
Changes to Watch Out For in the Future
- GTA LNG production stabilization
- Domestic gas power supply
- Trends in Iron Ore and Gold Production
- Fisheries resource management and processing
- Expansion of ports and railways
- Green Hydrogen Project
- Mining and Gas Revenue Management
- Youth employment and technical education
- Sahel Security and Border Logistics
Market Position
Atlantic Mineral–LNG Base + Sahel Resource Gateway
A resource and energy gateway market connecting the Atlantic and the Sahel based on iron ore, gold, fisheries, and new LNG
Key Opportunities
- Mining Equipment and Safety
- Bulk ports and railways
- LNG and gas power generation
- Solar Power & ESS
- Seafood processing and cold chain
- water conversion
- Agricultural and livestock processing
- Digital customs clearance
- Green hydrogen infrastructure
Recommended Strategy
Select
Select sectors among mining, gas, fisheries, and energy where Korean companies have a competitive edge.
↓
Secure
Secure government approval, financing, payment guarantees, and port and transportation conditions with local partners.
↓
Integrate
We do not just export equipment; we design power, logistics, maintenance, education, and processing together.
↓
Localize
The business structure includes local employment, technology transfer, processing, and community benefits.
Final Assessment
Mauritania is not merely a source of raw materials, but an Atlantic Sahel project market whose value increases only when minerals, LNG, fisheries, ports, energy, and processing industries are combined.
Scope of investigation
This document was prepared by cross-reviewing the latest data related to energy, trade, and industry from international organizations, the WTO, and the World Bank.
international organizations
- International Monetary Fund
- World Bank
- World Trade Organization
- African Development Bank
- International Trade Center
- United Nations
Government and public institutions
- Government of Mauritania
- Central Bank of Mauritania
- National Statistics Agency
- Ministry of Petroleum and Energy
- Ministry of Mines and Industry
- Ministry of Fisheries
- SNIM
- Port of Nouadhibou
- Port of Nouakchott
- KOTRA
Key research data
- IMF Mauritania Program Review 2026
- IMF Mauritania Country Data 2026
- World Bank Mauritania Economic Update 2025
- World Bank Country Partnership Framework 2025
- WTO Mauritania Trade Profile 2024
- BP·Kosmos GTA LNG Project Information
- World Bank WITS Trade Data
Writing Verification
This document was prepared in accordance with the following principles.
- Distinguishing between 2024 performance and 2025/2026 outlooks
- Specify the difference in growth rates between the IMF and the World Bank.
- Confirmed export items and proportions using WTO data
- Verify the timing of GTA's first LNG production and export using business data
- Distinguishing between the mining, fisheries, gas, and non-mining economies
- Include port, rail, and inland logistics risks in supply chain analysis
- Application of South Korea's Energy, Mining, Fisheries, and Infrastructure Perspectives
- Apply MarketHub Country Intelligence standard template
Mauritania is an Atlantic Sahel resource economy that has grown based on iron ore, gold, copper, and fisheries resources. With the start of LNG exports in 2025, its resource structure is expanding from a focus on minerals and fisheries to include gas and energy.
However, exports are concentrated on a few raw materials, and declines in mining production and fluctuations in international prices directly affect the growth rate, foreign exchange, and fiscal balance. The link between the resource industry and domestic employment and manufacturing also remains weak.
South Korea should approach Mauritania not merely as a supplier of raw materials, but as a long-term project market capable of combining mining equipment, railways and ports, LNG and gas power generation, solar power, fisheries processing, desalination, and green hydrogen.
In particular, resource development can lead to sustainable cooperation only if local processing, technical training, long-term maintenance, and local employment are included in the project.
Final evaluation
Mauritania is a 'mineral and fisheries-based emerging gas economy' where LNG is combined with iron ore, gold, and fisheries as a new growth axis.
MarketHub classifies Mauritania not merely as a resource exporting country, but as an Atlantic Sahel resource and energy gateway market where market value increases only when mineral, gas, fisheries, ports, and energy infrastructure are integrated .