Burkina Faso Economy 2018, CIA World Factbook
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Burkina Faso Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Burkina Faso Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Burkina Faso is a poor, landlocked country that depends on adequate rainfall. About 90% of the population is engaged in subsistence farming and cotton is the main cash crop. The country has few natural resources and a weak industrial base.Cotton and gold are Burkina Faso’s key exports - gold has accounted for about three-quarters of the country’s total export revenues. Burkina Faso’s economic growth and revenue depends largely on production levels and global prices for the two commodities. The Burkinabe economy experienced high levels of growth over the last few years, and the country has seen an upswing in gold exploration, production, and exports.Burkina Faso experienced a number of public protests over the high cost of living, corruption, and other socioeconomic issues in 2013, while the fall of the COMPAORE government in 2014 and failed coup in September 2015 disrupted economic activity and strained government finances. A new three-year IMF program, approved in 2013, was recently completed. Discussions are currently underway on a new program. Political insecurity in neighboring Mali, unreliable energy supplies, and poor transportation links pose long-term challenges.

GDP (purchasing power parity):
$35.68 billion (2017 est.) $33.54 billion (2016 est.) $31.68 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 127

GDP (official exchange rate):
$13.19 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.4% (2017 est.) 5.9% (2016 est.) 4% (2015 est.)
country comparison to the world: 19
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,900 (2017 est.) $1,800 (2016 est.) $1,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 209

Gross national saving:
9.2% of GDP (2017 est.) 7.7% of GDP (2016 est.) 5.3% of GDP (2015 est.)
country comparison to the world: 162
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 56.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 26.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 2.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 20.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -35.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 31.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 22%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 46.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, peanuts, shea nuts, sesame, sorghum, millet, corn, rice; livestock

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

Industrial production growth rate:
5.1% (2017 est.)
country comparison to the world: 42
[see also: Industrial production growth rate country ranks ]

Labor force:
8.501 million
note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment (2016 est.)
country comparison to the world: 60
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 90%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 10% (2000 est.)

Unemployment rate:
77% (2004)
country comparison to the world: 216
[see also: Unemployment rate country ranks ]

Population below poverty line:
40.1% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 32.2% (2009 est.)

Distribution of family income - Gini index:
39.5 (2007) 48.2 (1994)
country comparison to the world: 66
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.635 billion
[see also: Budget - revenues country ranks ]
expenditures: $3.332 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
20% of GDP (2017 est.)
country comparison to the world: 152
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.3% of GDP (2017 est.)
country comparison to the world: 166
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
32.5% of GDP (2016 est.) 32.5% of GDP (2015 est.)
country comparison to the world: 154
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.5% (2017 est.) -0.2% (2016 est.)
country comparison to the world: 62
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2010) 4.25% (31 December 2009)
country comparison to the world: 87
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.3% (31 December 2017 est.) 5.3% (31 December 2016 est.)
country comparison to the world: 142
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.606 billion (31 December 2017 est.) $2.274 billion (31 December 2016 est.)
country comparison to the world: 124
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.904 billion (31 December 2017 est.) $4.228 billion (31 December 2016 est.)
country comparison to the world: 130
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.804 billion (31 December 2017 est.) $3.205 billion (31 December 2016 est.)
country comparison to the world: 132
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$947 million (2017 est.) -$828 million (2016 est.)
country comparison to the world: 132
[see also: Current account balance country ranks ]

Exports:
$2.797 billion (2017 est.) $2.641 billion (2016 est.)
country comparison to the world: 130
[see also: Exports country ranks ]

Exports - commodities:
gold, cotton, livestock

Exports - partners:
Switzerland 65.7%, India 6.3%, South Africa 5.2%, Singapore 4.6% (2016)

Imports:
$2.923 billion (2017 est.) $2.802 billion (2016 est.)
country comparison to the world: 145
[see also: Imports country ranks ]

Imports - commodities:
capital goods, foodstuffs, petroleum

Imports - partners:
China 12.2%, Cote dIvoire 8.2%, Japan 7.8%, France 7.1%, Netherlands 4.5%, Spain 4.2%, India 4.1%, Russia 4% (2016)

Reserves of foreign exchange and gold:
$45.3 million (31 December 2017 est.) $50.9 million (31 December 2016 est.)
country comparison to the world: 172
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.075 billion (31 December 2017 est.) $2.88 billion (31 December 2016 est.)
country comparison to the world: 142
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 605.3 (2017 est.) 593.01 (2016 est.) 593.01 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.)


NOTE: 1) The information regarding Burkina Faso on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burkina Faso Economy 2018 information contained here. All suggestions for corrections of any errors about Burkina Faso Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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