Burundi Economy - 2022

GEOGRAPHICAL NAMES 

Economic overview

Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. Agriculture accounts for over 40% of GDP and employs more than 90% of the population. Burundi's primary exports are coffee and tea, which account for more than half of foreign exchange earnings, but these earnings are subject to fluctuations in weather and international coffee and tea prices, Burundi is heavily dependent on aid from bilateral and multilateral donors, as well as foreign exchange earnings from participation in the African Union Mission to Somalia (AMISOM). Foreign aid represented 48% of Burundi's national income in 2015, one of the highest percentages in Sub-Saharan Africa, but this figure decreased to 33.5% in 2016 due to political turmoil surrounding President NKURUNZIZA’s bid for a third term. Burundi joined the East African Community (EAC) in 2009.

 

Burundi faces several underlying weaknesses – low governmental capacity, corruption, a high poverty rate, poor educational levels, a weak legal system, a poor transportation network, and overburdened utilities – that have prevented the implementation of planned economic reforms. The purchasing power of most Burundians has decreased as wage increases have not kept pace with inflation, which reached approximately 18% in 2017.

 

Real GDP growth dropped precipitously following political events in 2015 and has yet to recover to pre-conflict levels. Continued resistance by donors and the international community will restrict Burundi’s economic growth as the country deals with a large current account deficit.

Real GDP (purchasing power parity)

$8.69 billion (2020 est.)

$8.67 billion (2019 est.)

$8.51 billion (2018 est.)

note: data are in 2017 dollars

Real GDP growth rate

0% (2017 est.)

-1% (2016 est.)

-4% (2015 est.)

Real GDP per capita

$700 (2020 est.)

$800 (2019 est.)

$800 (2018 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$3.027 billion (2019 est.)

Inflation rate (consumer prices)

-0.6% (2019 est.)

-2.5% (2018 est.)

15.9% (2017 est.)

GDP - composition, by sector of origin

agriculture: 39.5% (2017 est.)

industry: 16.4% (2017 est.)

services: 44.2% (2017 est.)

GDP - composition, by end use

household consumption: 83% (2017 est.)

government consumption: 20.8% (2017 est.)

investment in fixed capital: 16% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 5.5% (2017 est.)

imports of goods and services: -25.3% (2017 est.)

Agricultural products

cassava, bananas, sweet potatoes, plantains, beans, vegetables, potatoes, cashew nuts, maize, taro

Industries

light consumer goods (sugar, shoes, soap, beer); cement, assembly of imported components; public works construction; food processing (fruits)

Industrial production growth rate

-2% (2017 est.)

Labor force

5.012 million (2017 est.)

Labor force - by occupation

agriculture: 93.6%

industry: 2.3%

services: 4.1% (2002 est.)

Unemployment rate

N/A

Youth unemployment rate (ages 15-24)

total: 2.9%

male: 4.4%

female: 2% (2014 est.)

Population below poverty line

64.6% (2014 est.)

Gini Index coefficient - distribution of family income

38.6 (2013 est.)

Household income or consumption by percentage share

lowest 10%: 4.1%

highest 10%: 28% (2006)

Budget

revenues: 536.7 million (2017 est.)

expenditures: 729.6 million (2017 est.)

Budget surplus (+) or deficit (-)

-5.7% (of GDP) (2017 est.)

Public debt

51.7% of GDP (2017 est.)

48.4% of GDP (2016 est.)

Taxes and other revenues

15.8% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$418 million (2017 est.)

-$411 million (2016 est.)

Exports

$290 million (2018 est.)

$283 million (2018 est.)

$315 million (2017 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

United Arab Emirates 50%, Democratic Republic of the Congo 7% (2019)

Exports - commodities

gold, coffee, tea, raw earth metal ores, wheat flours (2019)

Imports

$910 million (2018 est.) note: data are in current year dollars

$927 million (2018 est.)

$1.295 billion (2017 est.)

Imports - partners

China 14%, Saudi Arabia 14%, India 9%, Kenya 7%, United Arab Emirates 7%, Tanzania 5%, Zambia 5% (2019)

Imports - commodities

refined petroleum, packaged medicines, cement, raw sugar, cars (2019)

Reserves of foreign exchange and gold

$97.4 million (31 December 2017 est.)

$95.17 million (31 December 2016 est.)

Debt - external

$610.9 million (31 December 2017 est.)

$622.4 million (31 December 2016 est.)

Exchange rates

Burundi francs (BIF) per US dollar -

1,945 (2020 est.)

1,876.25 (2019 est.)

1,800.495 (2018 est.)

1,571.9 (2014 est.)

1,546.7 (2013 est.)

NOTE: The information regarding Burundi on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Burundi 2022 information contained here. All suggestions for corrections of any errors about Burundi 2022 should be addressed to the CIA or the source cited on each page.