Burundi Economy - 2024

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.)

Unemployment rate

1.79% (2021 est.)
1.71% (2020 est.)
1.59% (2019 est.)

NA

Youth unemployment rate (ages 15-24)

total: 3.4% (2021 est.)

male: 4.6%

female: 2.5%

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)

Remittances

1.72% of GDP (2020 est.)
1.88% of GDP (2019 est.)
1.82% of GDP (2018 est.)

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.)
$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, 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.)
$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

$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 -

Exchange rates:
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.)