Burundi Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

highly agrarian, low-income Sub-Saharan economy; declining foreign assistance; increasing fiscal insolvencies; dense and still growing population; COVID-19 weakened economic recovery and flipped two years of deflation

Real GDP (purchasing power parity)

$8.849 billion (2021 est.)

$8.693 billion (2020 est.)

$8.665 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

1.8% (2021 est.)

0.33% (2020 est.)

1.81% (2019 est.)

Real GDP per capita

$700 (2021 est.)

$700 (2020 est.)

$700 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$3.027 billion (2019 est.)

Inflation rate (consumer prices)

8.4% (2021 est.)

7.32% (2020 est.)

-0.69% (2019 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

1.4% (2021 est.)

Labor force

5.271 million (2021 est.)

Labor force - by occupation

agriculture: 93.6%

industry: 2.3%

services: 4.1% (2002 est.)

Unemployment rate

1.79% (2021 est.)

1.71% (2020 est.)

1.59% (2019 est.)

NA

Youth unemployment rate (ages 15-24)

total: 3.4%

male: 4.6%

female: 2.5% (2021 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: $747 million (2020 est.)

expenditures: $1.111 billion (2020 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

-$362.645 million (2018 est.)

-$373.389 million (2017 est.)

-$339.695 million (2016 est.)

Exports

$285.105 million (2018 est.)

$270.686 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, beer (2021)

note: rare earth metal ores include zirconium, vanadium, tantalum, and niobium

Imports

$905.294 million (2018 est.) note: data are in current year dollars

$885.422 million (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

$266.164 million (31 December 2021 est.)

$90.319 million (31 December 2020 est.)

$111.374 million (31 December 2019 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 -

1,975.951 (2021 est.)

1,915.046 (2020 est.)

1,845.623 (2019 est.)

1,782.877 (2018 est.)

1,729.055 (2017 est.)

NOTE: The information regarding Burundi on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Burundi 2023 information contained here. All suggestions for corrections of any errors about Burundi 2023 should be addressed to the CIA or the source cited on each page.