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Burundi Economy 1996


    • Overview:
      A landlocked, resource-poor country in an early stage of economic development, Burundi since October 1993 has suffered from massive ethnic-based violence that has displaced an estimated million people, disrupted production, and set back needed reform programs. Burundi is predominately agricultural with roughly 90% of the population dependent on subsistence agriculture. Its economic health depends on the coffee crop, which accounts for 80% of foreign exchange earnings. The ability to pay for imports therefore continues to rest largely on the vagaries of the climate and the international coffee market. As part of its economic reform agenda, launched in February 1991 with IMF and World Bank support, Burundi is trying to diversify its agricultural exports, attract foreign investment in industry, and modernize government budgetary practices. Although the government remains committed to reforms, it fears new austerity measures would add to ethnic tensions.

    • National product:
      GDP - purchasing power parity - $3.7 billion (1994 est.)

    • National product real growth rate:
      -13.5% (1994 est.)

    • National product per capita:
      $600 (1994 est.)

    • Inflation rate (consumer prices):
      10% (1993 est.)

    • Unemployment rate:
      NA%

    • Budget:

        revenues:
        $318 million

        expenditures:
        $326 million, including capital expenditures of $150 million (1991 est.)

    • Exports:
      $68 million (f.o.b., 1993)

        commodities:
        coffee 81%, tea, cotton, hides, and skins

        partners:
        EC 57%, US 19%, Asia 1%

    • Imports:
      $203 million (c.i.f., 1993)

        commodities:
        capital goods 31%, petroleum products 15%, foodstuffs, consumer goods

        partners:
        EC 45%, Asia 29%, US 2%

    • External debt:
      $1.05 billion (1994 est.)

    • Industrial production:
      growth rate 11% (1991 est.); accounts for about 15% of GDP

    • Electricity:

        capacity:
        55,000 kW

        production:
        100 million kWh

        consumption per capita:
        20 kWh (1993)

    • Industries:
      light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing

    • Agriculture:
      accounts for 50% of GDP; cash crops - coffee, cotton, tea; food crops - corn, sorghum, sweet potatoes, bananas, manioc; livestock - meat, milk, hides and skins

    • Economic aid:

        recipient:
        US commitments, including Ex-Im (FY70-89), $71 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $10.2 billion; OPEC bilateral aid (1979-89), $32 million; Communist countries (1970-89), $175 million

    • Currency:
      1 Burundi franc (FBu) = 100 centimes

    • Exchange rates:
      Burundi francs (FBu) per US$1 - 248.51 (December 1994), 252.66 (1994), 242.78 (1993), 208.30 (1992), 181.51 (1991), 171.26 (1990), 158.67 (1989), 140.40 (1988)

    • Fiscal year:
      calendar year






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