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Burkina Faso Economy 2017
http://www.theodora.com/wfbcurrent/burkina_faso/burkina_faso_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Burkina Faso Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Burkina Faso is a poor, landlocked country that depends on adequate rainfall. About 80% 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 on 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 was approved in 2013 to focus on improving the quality of public investment and ensuring inclusive growth. Political insecurity in neighboring Mali, unreliable energy supplies, and poor transportation links pose long-term challenges.

GDP (purchasing power parity):
$32.99 billion (2016 est.) $31.35 billion (2015 est.) $30.14 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 128
[see also: GDP country ranks ]

GDP (official exchange rate):
$12.01 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.2% (2016 est.) 4% (2015 est.) 4% (2014 est.)
country comparison to the world: 33
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,800 (2016 est.) $1,800 (2015 est.) $1,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 210
[see also: GDP - per capita country ranks ]

Gross national saving:
8.2% of GDP (2016 est.) 7.7% of GDP (2015 est.) 11.7% of GDP (2014 est.)
country comparison to the world: 158
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 45.1%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 22%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 28.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 34.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 32.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 21.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 45.7% (2016 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:
4.2% (2016 est.)
country comparison to the world: 53
[see also: Industrial production growth rate country ranks ]

Labor force:
7.692 million
note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment (2013 est.)
country comparison to the world: 63
[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: 206
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.7% (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.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
39.5 (2007) 48.2 (1994)
country comparison to the world: 65
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.442 billion
[see also: Budget revenues country ranks ]
expenditures: $2.779 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
20.3% of GDP (2016 est.)
country comparison to the world: 153
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.8% of GDP (2016 est.)
country comparison to the world: 98
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.4% (2016 est.) 1% (2015 est.)
country comparison to the world: 90
[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: 92
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2014 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.348 billion (31 December 2016 est.) $2.124 billion (31 December 2015 est.)
country comparison to the world: 123
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.387 billion (31 December 2016 est.) $4 billion (31 December 2015 est.)
country comparison to the world: 135
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.421 billion (31 December 2016 est.) $3.192 billion (31 December 2015 est.)
country comparison to the world: 130
[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:
-$723 million (2016 est.) -$706 million (2015 est.)
country comparison to the world: 112
[see also: Current account balance country ranks ]

Exports:
$2.771 billion (2016 est.) $2.515 billion (2015 est.)
country comparison to the world: 130
[see also: Exports country ranks ]

Exports - commodities:
gold, cotton, livestock

Exports - partners:
Switzerland 53.3%, India 14.5% (2015)

Imports:
$2.872 billion (2016 est.) $2.863 billion (2015 est.)
country comparison to the world: 145
[see also: Imports country ranks ]

Imports - commodities:
capital goods, foodstuffs, petroleum

Imports - partners:
Cote dIvoire 23.1%, France 11.1%, Togo 7.5%, China 4.8%, Ghana 4.6% (2015)

Reserves of foreign exchange and gold:
$333.4 million (31 December 2016 est.) $259.6 million (31 December 2015 est.)
country comparison to the world: 154
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.092 billion (31 December 2016 est.) $2.669 billion (31 December 2015 est.)
country comparison to the world: 141
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)


NOTE: The information regarding Burkina Faso on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burkina Faso Economy 2017 information contained here. All suggestions for corrections of any errors about Burkina Faso Economy 2017 should be addressed to the CIA.




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