Overview: One of the poorest countries in the world, Burkina has a high population density, few natural resources, and relatively infertile soil. Economic development is hindered by a poor communications network within a landlocked country. Agriculture provides about 40% of GDP and is entirely of a subsistence nature. Industry, dominated by unprofitable government-controlled corporations, accounts for about 15% of GDP.

National product: GDP - purchasing power equivalent - $7 billion (1993 est.)

National product real growth rate: 0.7% (1992)

National product per capita: $700 (1993 est.)

Inflation rate (consumer prices): -0.8% (1992)

Unemployment rate: NA%

Budget:
revenues: $483 million
expenditures: $548 million, including capital expenditures of $189 million (1992)

Exports: $300 million (f.o.b., 1992)
commodities: cotton, gold, animal products
partners: EC 42%, Cote d'Ivoire 11%, Taiwan 15%

Imports: $685 million (f.o.b., 1992)
commodities: machinery, food products, petroleum
partners: EC 49%, Africa 24%, Japan 6%

External debt: $865 million (December 1991 est.)

Industrial production: growth rate 6.7% (1992); accounts for about 15% of GDP

Electricity:
capacity: 120,000 kW
production: 320 million kWh
consumption per capita: 40 kWh (1991)

Industries: cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold mining and extraction

Agriculture: accounts for about 40% of GDP; cash crops - peanuts, shea nuts, sesame, cotton; food crops - sorghum, millet, corn, rice; livestock; not self-sufficient in food grains

Economic aid:
recipient: US commitments, including Ex-Im (FY70-89), $294 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $2.9 billion; Communist countries (1970-89), $113 million

Currency: 1 CFA franc (CFAF) = 100 centimes
Exchange rates: CFA francs (CFAF) per US$1 - 592.05 (January 1994), 283.16 (1993), 264.69 (1992), 282.11 (1991), 272.26 (1990), 319.01 (1989)
note: beginning 12 January 1994 the CFA franc was devalued to CFAF 100 per French franc from CFAF 50 at which it had been fixed since 1948

Fiscal year: calendar year

NOTE: The information regarding Burkina on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burkina Economy 1995 information contained here. All suggestions for corrections of any errors about Burkina Economy 1995 should be addressed to the CIA.