Background:
 
The Sudanese Republic and Senegal became independent of France in 1960 as the Mali Federation. When Senegal withdrew after only a few months, what formerly made up the Sudanese Republic was renamed Mali. Rule by dictatorship was brought to a close in 1991 by a military coup that ushered in a period of democratic rule. President Alpha KONARE won Mali's first two democratic presidential elections in 1992 and 1997. In keeping with Mali's two-term constitutional limit, he stepped down in 2002 and was succeeded by Amadou Toumani TOURE, who was elected to a second term in 2007 elections that were widely judged to be free and fair. Malian returnees from Libya in 2011 exacerbated tensions in northern Mali, and Tuareg ethnic militias started a rebellion in January 2012. Low- and mid-level soldiers, frustrated with the poor handling of the rebellion overthrew TOURE on 22 March. Intensive mediation efforts led by the Economic Community of West African States (ECOWAS) returned power to a civilian administration in April with the appointment of interim President Dioncounda TRAORE. The post-coup chaos led to rebels expelling the Malian military from the three northern regions of the country and allowed Islamic militants to set up strongholds. Hundreds of thousands of northern Malians fled the violence to southern Mali and neighboring countries, exacerbating regional food insecurity in host communities. An international military intervention to retake the three northern regions began in January 2013 and within a month most of the north had been retaken. In a democratic presidential election conducted in July and August of 2013, Ibrahim Boubacar KEITA was elected president in the second round.

Country name:
 
conventional long form: Republic of Mali
conventional short form: Mali
local long form: Republique de Mali
local short form: Mali
former: French Sudan and Sudanese Republic
 

Government type:

republic
 

Capital:

name: Bamako
geographic coordinates: 12 39 N, 8 00 W
time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
 

Administrative divisions:

8 regions (regions, singular - region), 1 district*; District de Bamako*, Gao, Kayes, Kidal, Koulikoro, Mopti, Segou, Sikasso, Tombouctou (Timbuktu)
 

Independence:

22 September 1960 (from France)
 

National holiday:

Independence Day, 22 September (1960)
 

Constitution:

several previous; latest drafted August 1991, approved by referendum 12 January 1992, effective 25 February 1992; amended 1999; note - suspended briefly in 2012 (2012)
 

Legal system:

civil law system based on the French civil law model and influenced by customary law; judicial review of legislative acts in Constitutional Court
 

International law organization participation:

has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
 

Suffrage:

18 years of age; universal
 

Executive branch:

chief of state: President Ibrahim Boubacar KEITA (since 4 September 2013)
head of government: Prime Minister Moussa MARA (since 9 April 2014)
cabinet: Council of Ministers appointed by the prime minister
(For more information visit the World Leaders website Opens in New Window)
elections: president elected by popular vote for a five-year term (eligible for a second term); the election scheduled for 29 April 2012 and delayed following the March 2012 coup took place 28 July 2013 and a runoff election was held on 11 August 2013; prime minister appointed by the president
election results: Ibrahim Boubacar KEITA elected president in a runoff election; percent of vote - Ibrahim Boubacar KEITA 77.6%, Soumaila CISSE 22.4%
 

Legislative branch:

unicameral National Assembly or Assemblee Nationale (160 seats: 147 seats elected in single seat constituencies and 13 seats elected by Malians abroad; members elected by popular vote to serve five-year terms)
elections: last held in two rounds on 24 November 2013 and on 15 December 2013 (next to be held in 2017); note the scheduled July 2012 election was cancelled due to a coup d'etat and the Tuareg Rebellion
election results: percent of vote by party - NA; seats by party - FDR coalition 64 (RPM 61, PARENA 3), ADP coalition 42 (ADEMA 20, URD 18, CNID 4), FARE 5, CODEM 5, SADI 4, ASMA-CFP 4, Yelema 2, independents 16, other 5; note - 13 seats were from voters abroad
 

Judicial branch:

highest court(s): Supreme Court or Cour Supreme (consists of 19 members organized into 3 civil chambers and a criminal chamber); Constitutional Court (consists of 9 members)
judge selection and term of office: Supreme Court members appointed by the Ministry of Justice to serve 5-year terms; Constitutional Court members selected - 3 each by the president, the National Assembly, and the Supreme Council of the Magistracy; members serve single renewable 7-year terms
subordinate courts: High Court of Justice (jurisdiction limited to cases of high treason or criminal offenses by the president or ministers while in office)
 

Political parties and leaders:

African Solidarity for Democracy and Independence or SADI [Oumar MARIKO, secretary general]
Alliance for Democracy or ADEMA [Dionconda TRAORE]
Alliance for Democracy and Progress or ADP (a coalition of political parties including ADEMA and URD formed in December 2006 to support the presidential candidacy of Amadou TOURE)
Alliance for Democratic Change (political group comprised mainly of Tuareg from Mali's northern region)
Alliance for the Solidarity of Mali-Convergence of Patriotic Forces or ASMA-CFP [Soumeylou Boubeye MAIGA]
Alternative Forces for Renewal and Emergence or FARE [Modibo SIDIBE]
Convergence for the development of Mali or CODEM [Housseyni GUINDO]
Economic and Social Development Party or PDES [Jamille BITTAR]
Front for Democracy and the Republic or FDR (a coalition of political parties including RPM and PARENA formed to oppose the presidential candidacy of Amadou TOURE)
Movement for a Common Destiny or MODEC [Koniba SIDIBE]
National Congress for Democratic Initiative or CNID [Mountaga TALL]
Party for Democracy and Progress or PDP [Mady KONATE]
Party for National Renewal or PARENA [Tiebile DRAME]
Patriotic Movement for Renewal or MPR [Choguel Kokalla MAIGA]
Rally for Democracy and Labor or RDT [Amadou Ali NIANGADOU]
Rally for Mali or RPM [Ibrahim Boubacar KEITA]
Sudanese Union/African Democratic Rally or US/RDA [Mamadou Bamou TOURE]
Union for Democracy and Development or UDD [Tieman Hubert COULIBALY]
Union for Republic and Democracy or URD [Younoussi TOURE]
Yelema [Moussa Mara]
 

Political pressure groups and leaders:

other: the army; Islamic authorities; state-run cotton company CMDT
 

International organization participation:

ACP, AfDB, AU, CD, ECOWAS, EITI (compliant country), FAO, FZ, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NAM, OIC, OIF, OPCW, UN, UNAMID, UNCTAD, UNESCO, UNIDO, UNMIL, UNMISS, UNWTO, UPU, WADB (regional), WAEMU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
 

Diplomatic representation in the US:

chief of mission: Ambassador Al Maamoun Baba Lamine KEITA (since 8 January 2013)
chancery: 2130 R Street NW, Washington, DC 20008
telephone: [1] (202) 332-2249, 939-8950
FAX: [1] (202) 332-6603
 

Diplomatic representation from the US:

chief of mission: Ambassador Mary Beth LEONARD (since 7 November 2011)
embassy: located just off the Roi Bin Fahad Aziz Bridge just west of the Bamako central district
mailing address: ACI 2000, Rue 243, Porte 297, Bamako
telephone: [223] 2070-2300
FAX: [223] 2070-2479
 

Flag description:

three equal vertical bands of green (hoist side), yellow, and red
note: uses the popular Pan-African colors of Ethiopia; the colors from left to right are the same as those of neighboring Senegal (which has an additional green central star) and the reverse of those on the flag of neighboring Guinea
 

National anthem:

name: 'Le Mali' (Mali)
lyrics/music: Seydou Badian KOUYATE/Banzoumana SISSOKO
note: adopted 1962; the anthem is also known as 'Pour L'Afrique et pour toi, Mali' (For Africa and for You, Mali) and 'A ton appel Mali' (At Your Call, Mali)

Nationality:
 
noun: Malian(s)
adjective: Malian
 

Ethnic groups:

Mande 50% (Bambara, Malinke, Soninke), Peul 17%, Voltaic 12%, Songhai 6%, Tuareg and Moor 10%, other 5%
 

Languages:

French (official), Bambara 46.3%, Peul/foulfoulbe 9.4%, Dogon 7.2%, Maraka/soninke 6.4%, Malinke 5.6%, Sonrhai/djerma 5.6%, Minianka 4.3%, Tamacheq 3.5%, Senoufo 2.6%, unspecified 0.6%, other 8.5%
note: Mali has 13 national languages in addition to its official language
 

Religions:

Muslim 94.8%, Christian 2.4%, Animist 2%, none 0.5%, unspecified 0.3% (2009 Census)
 

Population:

16,455,903 (July 2014 est.)
country comparison to the world: 67
 

Age structure:

0-14 years: 47.6% (male 3,931,818/female 3,899,535)
15-24 years: 19% (male 1,489,830/female 1,638,995)
25-54 years: 26.7% (male 2,042,666/female 2,348,337)
55-64 years: 3.7% (male 307,167/female 306,470)
65 years and over: 3% (male 246,084/female 245,001) (2014 est.)
population pyramid:  
 

Dependency ratios:

total dependency ratio: 100.9 %
youth dependency ratio: 95.4 %
elderly dependency ratio: 5.5 %
potential support ratio: 18.2 (2014 est.)
 

Median age:

total: 16 years
male: 15.4 years
female: 16.7 years (2014 est.)
 

Population growth rate:

3% (2014 est.)
country comparison to the world: 12
 

Birth rate:

45.53 births/1,000 population (2014 est.)
country comparison to the world: 2
 

Death rate:

13.22 deaths/1,000 population (2014 est.)
country comparison to the world: 18
 

Net migration rate:

-2.33 migrant(s)/1,000 population (2014 est.)
country comparison to the world: 171
 

Urbanization:

urban population: 34.9% of total population (2011)
rate of urbanization: 4.77% annual rate of change (2010-15 est.)
 

Major urban areas - population:

BAMAKO (capital) 2.037 million (2011)
 

Sex ratio:

at birth: 1.03 male(s)/female
0-14 years: 1.01 male(s)/female
15-24 years: 0.91 male(s)/female
25-54 years: 0.87 male(s)/female
55-64 years: 0.95 male(s)/female
65 years and over: 1.01 male(s)/female
total population: 0.95 male(s)/female (2014 est.)
 

Mother's mean age at first birth:

18.6
note: median age at first birth among women 25-29 (2006 est.)
 

Maternal mortality rate:

540 deaths/100,000 live births (2010)
country comparison to the world: 18
 

Infant mortality rate:

total: 104.34 deaths/1,000 live births
country comparison to the world: 2
male: 111.04 deaths/1,000 live births
female: 97.44 deaths/1,000 live births (2014 est.)
 

Life expectancy at birth:

total population: 54.95 years
country comparison to the world: 206
male: 53.12 years
female: 56.83 years (2014 est.)
 

Total fertility rate:

6.16 children born/woman (2014 est.)
country comparison to the world: 2
 

Contraceptive prevalence rate:

8.2% (2006)
 

Health expenditures:

6.8% of GDP (2011)
country comparison to the world: 88
 

Physicians density:

0.08 physicians/1,000 population (2010)
 

Hospital bed density:

0.1 beds/1,000 population (2010)
 

Drinking water source:

improved: 
urban: 90.9% of population
rural: 54.2% of population
total: 67.2% of population
unimproved: 
urban: 9.1% of population
rural: 45.8% of population
total: 32.8% of population (2012 est.)
 

Sanitation facility access:

improved: 
urban: 35.3% of population
rural: 14.5% of population
total: 21.9% of population
unimproved: 
urban: 64.7% of population
rural: 85.5% of population
total: 78.1% of population (2012 est.)
 

HIV/AIDS - adult prevalence rate:

0.9% (2012 est.)
country comparison to the world: 50
 

HIV/AIDS - people living with HIV/AIDS:

100,300 (2012 est.)
country comparison to the world: 44
 

HIV/AIDS - deaths:

4,900 (2012 est.)
country comparison to the world: 41
 

Major infectious diseases:

degree of risk: very high
food or waterborne diseases: bacterial and protozoal diarrhea, hepatitis A, and typhoid fever
vectorborne diseases: malaria and dengue fever
water contact disease: schistosomiasis
respiratory disease: meningococcal meningitis
animal contact disease: rabies (2013)
 

Obesity - adult prevalence rate:

4.3% (2008)
country comparison to the world: 166
 

Children under the age of 5 years underweight:

27.9% (2006)
country comparison to the world: 23
 

Education expenditures:

4.8% of GDP (2011)
country comparison to the world: 83
 

Literacy:

definition: age 15 and over can read and write
total population: 33.4%
male: 43.1%
female: 24.6% (2011 est.)
 

School life expectancy (primary to tertiary education):

total: 9 years
male: 10 years
female: 8 years (2012)
 

Child labor - children ages 5-14:

total number: 1,485,027
percentage: 36 % (2010 est.)

Economy - overview:
 
Among the 25 poorest countries in the world, Mali is a landlocked country that depends on gold mining and agricultural exports for revenue. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Mali remains dependent on foreign aid. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Industrial activity is concentrated on processing farm commodities. Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold. Mali has invested in tourism but security issues hurt the industry. Mali experienced economic growth of about 5% per year between 1996-2011, but the global recession, a military coup, and terrorist activity in the north of the country caused a decline in output in 2012; growth resumed at a slow pace in 2013. The main threat to Mali’s economy is a return to physical insecurity. Other long term threats to the economy include high population growth, corruption, a weak infrastructure, and low levels of human capital.
 

GDP (purchasing power parity):

$18.9 billion (2013 est.)
country comparison to the world: 138
$18.03 billion (2012 est.)
$18.25 billion (2011 est.)
note: data are in 2013 US dollars
 

GDP (official exchange rate):

$11.37 billion (2013 est.)
 

GDP - real growth rate:

4.8% (2013 est.)
country comparison to the world: 61
-1.2% (2012 est.)
2.7% (2011 est.)
 

GDP - per capita (PPP):

$1,100 (2013 est.)
country comparison to the world: 216
$1,100 (2012 est.)
$1,200 (2011 est.)
note: data are in 2013 US dollars
 

Gross national saving:

15.8% of GDP (2013 est.)
country comparison to the world: 105
21.6% of GDP (2012 est.)
12.1% of GDP (2011 est.)
 

GDP - composition, by end use:

household consumption: 68.8%
government consumption: 18.6%
investment in fixed capital: 23.5%
investment in inventories: 0.6%
exports of goods and services: 22.5%
imports of goods and services: -34%
(2013 est.)
 

GDP - composition, by sector of origin:

agriculture: 38.5%
industry: 24.4%
services: 37% (2013 est.)
 

Agriculture - products:

cotton, millet, rice, corn, vegetables, peanuts; cattle, sheep, goats
 

Industries:

food processing; construction; phosphate and gold mining
 

Industrial production growth rate:

7% (2013 est.)
country comparison to the world: 33
 

Labor force:

3.241 million (2007 est.)
country comparison to the world: 101
 

Labor force - by occupation:

agriculture: 80%
industry and services: 20% (2005 est.)
 

Unemployment rate:

30% (2004 est.)
country comparison to the world: 183
 

Population below poverty line:

36.1% (2005 est.)
 

Household income or consumption by percentage share:

lowest 10%: 3.5%
highest 10%: 25.8% (2010 est.)
 

Distribution of family income - Gini index:

40.1 (2001)
country comparison to the world: 58
50.5 (1994)
 

Budget:

revenues: $2.868 billion
expenditures: $2.948 billion (2013 est.)
 

Taxes and other revenues:

25.2% of GDP (2013 est.)
country comparison to the world: 123
 

Budget surplus (+) or deficit (-):

-0.7% of GDP (2013 est.)
country comparison to the world: 60
 

Public debt:

30.5% of GDP (2013 est.)
country comparison to the world: 122
27.5% of GDP (2012 est.)
 

Fiscal year:

calendar year
Inflation rate (consumer prices):

0.1% (2013 est.)
country comparison to the world: 8
5.4% (2012 est.)
 

Central bank discount rate:

16% (31 December 2010 est.)
country comparison to the world: 85
4.25% (31 December 2009 est.)
 

Commercial bank prime lending rate:

9.3% (31 December 2013 est.)
country comparison to the world: 94
9.3% (31 December 2012 est.)
 

Stock of narrow money:

$2.848 billion (31 December 2013 est.)
country comparison to the world: 116
$2.583 billion (31 December 2012 est.)
 

Stock of broad money:

$3.942 billion (31 December 2013 est.)
country comparison to the world: 139
$3.446 billion (31 December 2012 est.)
 

Stock of domestic credit:

$2.234 billion (31 December 2013 est.)
country comparison to the world: 130
$2.102 billion (31 December 2012 est.)
 

Market value of publicly traded shares:

$NA
 

Current account balance:

-$918 million (2013 est.)
country comparison to the world: 117
-$737.5 million (2012 est.)
 

Exports:

$2.577 billion (2013 est.)
country comparison to the world: 135
$2.756 billion (2012 est.)
 

Exports - commodities:

cotton, gold, livestock
 

Exports - partners:

China 52.9%, Malaysia 11%, Indonesia 5.3%, India 4.1% (2012)
 

Imports:

$2.895 billion (2013 est.)
country comparison to the world: 150
$2.794 billion (2012 est.)
 

Imports - commodities:

petroleum, machinery and equipment, construction materials, foodstuffs, textiles
 

Imports - partners:

France 11.2%, Senegal 9.9%, Cote dIvoire 8.7%, China 8.6% (2012)
 

Debt - external:

$3.349 billion (31 December 2013 est.)
country comparison to the world: 132
$3.041 billion (31 December 2012 est.)
 

Stock of direct foreign investment - at home:

$2.75 billion (31 December 2013 est.)
country comparison to the world: 97
$2.545 billion (31 December 2012 est.)
 

Stock of direct foreign investment - abroad:

$NA (31 December 2013 est.)
$848.2 million (31 December 2012 est.)
 

Exchange rates:

Communaute Financiere Africaine francs (XOF) per US dollar -
500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)

Telephones - main lines in use:
 
112,000 (2012)
country comparison to the world: 142
 

Telephones - mobile cellular:

14.613 million (2012)
country comparison to the world: 59
 

Telephone system:

general assessment: domestic system unreliable but improving; increasing use of local radio loops to extend network coverage to remote areas
domestic: fixed-line subscribership remains less than 1 per 100 persons; mobile-cellular subscribership has increased sharply to about 70 per 100 persons
international: country code - 223; satellite communications center and fiber-optic links to neighboring countries; satellite earth stations - 2 Intelsat (1 Atlantic Ocean, 1 Indian Ocean) (2010)
 

Broadcast media:

national public TV broadcaster; 2 privately owned companies provide subscription services to foreign multi-channel TV packages; national public radio broadcaster supplemented by a large number of privately owned and community broadcast stations; transmissions of multiple international broadcasters are available (2007)
 

Internet country code:

.ml
 

Internet hosts:

437 (2012)
country comparison to the world: 186
 

Internet users:

249,800 (2009)
country comparison to the world: 135

Airports:
 
25 (2013)
country comparison to the world: 129
 

Airports - with paved runways:

total: 8
over 3,047 m: 1
2,438 to 3,047 m: 4
1,524 to 2,437 m: 2
914 to 1,523 m: 1 (2013)
 

Airports - with unpaved runways:

total: 17
1,524 to 2,437 m: 3
914 to 1,523 m: 9
under 914 m: 
5 (2013)
 

Heliports:

2 (2013)
 

Railways:

total: 593 km
country comparison to the world: 109
narrow gauge: 593 km 1.000-m gauge (2008)
 

Roadways:

total: 22,474 km
country comparison to the world: 103
paved: 5,522 km
unpaved: 16,952 km (2009)
 

Waterways:

1,800 km (downstream of Koulikoro; low water levels on the River Niger cause problems in dry years; in the months before the rainy season the river is not navigable by commercial vessels) (2011)
country comparison to the world: 44
 

Ports and terminals:

river port(s): Koulikoro (Niger)

Electricity - production:
 
520 million kWh (2010 est.)
country comparison to the world: 162
 

Electricity - consumption:

483.6 million kWh (2010 est.)
country comparison to the world: 171
 

Electricity - exports:

0 kWh (2012 est.)
country comparison to the world: 166
 

Electricity - imports:

0 kWh (2012 est.)
country comparison to the world: 170
 

Electricity - installed generating capacity:

304,000 kW (2010 est.)
country comparison to the world: 151
 

Electricity - from fossil fuels:

48.4% of total installed capacity (2010 est.)
country comparison to the world: 159
 

Electricity - from nuclear fuels:

0% of total installed capacity (2010 est.)
country comparison to the world: 138
 

Electricity - from hydroelectric plants:

51.6% of total installed capacity (2010 est.)
country comparison to the world: 42
 

Electricity - from other renewable sources:

0% of total installed capacity (2010 est.)
country comparison to the world: 202
 

Crude oil - production:

0 bbl/day (2012 est.)
country comparison to the world: 196
 

Crude oil - exports:

0 bbl/day (2010 est.)
country comparison to the world: 153
 

Crude oil - imports:

0 bbl/day (2010 est.)
country comparison to the world: 92
 

Crude oil - proved reserves:

0 bbl (1 January 2013 est.)
country comparison to the world: 164
 

Refined petroleum products - production:

0 bbl/day (2010 est.)
country comparison to the world: 173
 

Refined petroleum products - consumption:

4,994 bbl/day (2011 est.)
country comparison to the world: 169
 

Refined petroleum products - exports:

0 bbl/day (2010 est.)
country comparison to the world: 198
 

Refined petroleum products - imports:

4,698 bbl/day (2010 est.)
country comparison to the world: 156
 

Natural gas - production:

0 cu m (2011 est.)
country comparison to the world: 166
 

Natural gas - consumption:

0 cu m (2010 est.)
country comparison to the world: 171
 

Natural gas - exports:

0 cu m (2011 est.)
country comparison to the world: 147
 

Natural gas - imports:

0 cu m (2011 est.)
country comparison to the world: 95
 

Natural gas - proved reserves:

0 cu m (1 January 2013 est.)
country comparison to the world: 170
 

Carbon dioxide emissions from consumption of energy:

742,300 Mt (2011 est.)

A total of 47 Realistic Export Opportunities (REOs) from South Africa to Mali are identified based on the North-West University’s (South Africa) TRADE Decision Support Model (DSM).

The methodology is a very useful instrument to identify market opportunities globally for one’s product and also provides a good reference for one to be able to prioritise marketing efforts based on the value and size of these opportunities.

The TRADE-DSM Navigator provides sound information that companies are able to use in developing their export marketing strategy and forms the basis and guidance for further research should this be required.

In total 47 of the products associated with import demand are identified as realistic export opportunities. The relative 'untapped' potential of the market opportunity is shown in the chart below:

A total 'untapped' potential from South Africa's perspective of approximately 0.02 (in million US dollar terms) based on the average value of the top 6 supplying countries (excluding South Africa) are associated with these specific product export opportunities.

The highest number of identified opportunities are associated with the economic sector of

Food (301-304) .

Not all sectors will be present, as not all economic sectors (some of which are based on economic activity while the REOs are based on traded products) are relevant for all products. However, various other sectors also do exhibit potential.

While the above examples are based on high level economic sectors, the information is available at a much more granular level on the HS 6-digit tariff code level. To demonstrate the following example of a product description is provided:

HS CHAPTER 84:
NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF
Sub-heading 84.27:
Fork-lift trucks; other works trucks fitted with lifting or handling equipment:
HS 6-digit product code 8427.10:
Self-propelled trucks powered by an electric motor.

Research reports containing more detailed information related to these realistic export opportunities (down to product level as illustrated with the above product description) for each country are available from TIKZN.

Please contact us if you are interested in more detail by clicking here.

For an example of a more detailed country report please click here.

Please note that a more up-to-date version for the specific country report used in this example is available from TIKZN. This report is provided for demonstration purposes only and should not be used for any decision-making.

For more in-depth research you can also contact our NWU knowledge partners at
TRADE Research Advisory.

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