stylistic:tone, structural:summarization
Economy

Despite being rich in natural resources, Mauritania has a low GDP. A majority of the population still depends on agriculture and livestock for a livelihood, even though most of the nomads and many subsistence farmers were forced into the cities by recurrent droughts in the 1970s and 1980s. Mauritania has extensive deposits of iron ore, which account for almost 50% of total exports. Gold and copper mining companies are opening mines in the interior such as Firawa mine.

The country's first deepwater port opened near Nouakchott in 1986.

In recent years drought and economic mismanagement have resulted in a buildup of foreign debt. In March 1999, the government signed an agreement with a joint World Bank - International Monetary Fund mission on a $54 million enhanced structural adjustment facility (ESAF). Privatization remains one of the key issues. Mauritania is unlikely to meet ESAF's annual GDP growth objectives of 4–5%.

Oil was discovered in Mauritania in 2001 in the offshore Chinguetti Field. Although potentially significant for the Mauritanian economy, its overall influence is difficult to predict. Mauritania has been described as a "desperately poor desert nation, which straddles the Arab and African worlds and is Africa's newest, if small-scale, oil producer". There may be additional oil reserves inland in the Taoudeni basin, although the harsh environment will make extraction expensive.