Burkina Faso Economy: from the All Country Info reference guide to country facts

Burkina Faso Economy

Burkina Faso Economy: A summary of information about Burkina Faso Economy, from government research data as well as independent research and other sources.

You are here:
All CountriesBurkina Faso > Burkina Faso Economy

Burkina Faso: Economy

Economy - overview
One of the poorest countries in the world,
landlocked Burkina Faso has a high population density, few natural
resources, and a fragile soil. About 90% of the population is engaged
in (mainly subsistence) agriculture which is highly vulnerable to
variations in rainfall. Industry remains dominated by unprofitable
government-controlled corporations. Following the African franc
currency devaluation in January 1994 the government updated its
development program in conjunction with international agencies, and
exports and economic growth have increased. Maintenance of its
macroeconomic progress in 2000-2001 depends on continued low
inflation, reduction in the trade deficit, and reforms designed to
encourage private investment.
GDP
purchasing power parity - $12.4 billion (1999 est.)
GDP - real growth rate
5.5% (1999 est.)
GDP - per capita
purchasing power parity - $1,100 (1999 est.)
GDP - composition by sector
agriculture: 36%
industry: 20%
services: 44% (1997)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
2.5% (1999 est.)
Labor force
4.679 million (persons 10 years old and over, according
to a sample survey taken in 1991)
note: a large part of the male labor force migrates annually to
neighboring countries for seasonal employment
Labor force - by occupation
agriculture NA%, industry NA%, services
NA%
Unemployment rate
NA%
Budget
revenues: $277 million
expenditures: $492 million, including capital expenditures of $233
million (1995 est.)
Industries
cotton lint, beverages, agricultural processing, soap,
cigarettes, textiles, gold
Industrial production growth rate
4.2% (1995)
Electricity - production
225 million kWh (1998)
Electricity - production by source
fossil fuel: 64.44%
hydro: 35.56%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
209 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
peanuts, shea nuts, sesame, cotton, sorghum,
millet, corn, rice; livestock
Exports
$311 million (f.o.b., 1998 est.)
Exports - commodities
cotton, animal products, gold
Exports - partners
Cote d'Ivoire, Taiwan, France, Colombia, Italy,
Mali
Imports
$572 million (f.o.b., 1998 est.)
Imports - commodities
machinery, food products, petroleum
Imports - partners
Cote d'Ivoire, France, Senegal, Togo, Nigeria, US
Debt - external
$1.3 billion (1997)
Economic aid - recipient
$484.1 million (1995)
Currency
1 Communaute Financiere Africaine franc (CFAF) = 100
centimes
Exchange rates
Communaute Financiere Africaine francs (CFAF) per US$1
- 647.25 (January 2000), 615.70 (1999), 589.95 (1998), 583.67 (1997),
511.55 (1996), 499.15 (1995)
note: since 1 January 1999, the CFAF franc is pegged to the euro at a
rate of 655.957 CFA francs per euro
Fiscal year
calendar year
Locations:
Home
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua & Barbuda
Arctic Ocean
Argentina
Armenia
Aruba
Ashmore & Cartier Islands
Atlantic Ocean
Australia
Austria
Azerbaijan
Bahrain
Baker Island
Bangladesh
Barbados
Bassas Da India
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia & Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei
Bulgaria
Burkina Faso
Burma
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Clipperton Island
Colombia
Comoros
Cook Islands
Coral Sea Islands
Costa Rica
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Europa Island
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
Gabon
Gaza Strip
Georgia
Germany
Ghana
Gibraltar
Glorioso Islands
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guyana
Haiti
Honduras
Hong Kong
Howland Island
Hungary
Iceland
India
Indian Ocean
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Jan Mayen
Japan
Jarvis Island
Jersey
Johnston Atoll
Jordan
Juan De Nova Island
Kazakhstan
Kenya
Kingman Reef
Kiribati
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Namibia
Nauru
Navassa Island
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pacific Ocean
Pakistan
Palau
Palmyra Atoll
Panama
Papua New Guinea
Paracel Islands
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Rwanda
Saint Helena
Saint Kitts & Nevis
Saint Lucia
Saint Pierre & Miquelon
Saint Vincent & The Grenadines
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia & Montenegro
Seychelles
Sierra Leone
Singapore
Slovakia
Solomon Islands
Somalia
South Africa
Southern Ocean
Spain
Spratly Islands
Sri Lanka
Sudan
Suriname
Svalbard
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tromelin Island
Tunisia
Turkey
Turkmenistan
Turks & Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Wake Island
Wallis & Futuna
West Bank
Western Sahara
World
Yemen
Zambia
Zimbabwe