Burkina Faso - Economy
How is the economy of Burkina Faso? Based on the information we have, Burkina Faso has a highly agrarian, low-income economy; limited natural resources; widespread poverty; terrorism disrupting potential economic activity; improving trade balance via increases in gold exports; economy inflating after prior deflation; growing public debt but still manageable. Key agricultural products in this country include: maize, sorghum, fruits, vegetables, millet, cowpeas, cotton, groundnuts, sugarcane, rice (2023).
More about the economy of Burkina Faso
Labor force 6.461 million (2024 est.)
Industrial production growth rate -5.4% (2024 est.)
Industries cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold
Population below poverty line 43.2% (2021 est.)
Taxes and other revenues 18.4% (of GDP) (2023 est.)
Fiscal year
Exchange rates
Currency Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2024 606.345 (2024 est.)
Exchange rates 2023 606.57 (2023 est.)
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Debt - external
Debt - external 2023 $3.565 billion (2023 est.)
Current account balance
Current account balance 2023 -$1.017 billion (2023 est.)
Current account balance 2022 -$1.404 billion (2022 est.)
Current account balance 2021 $77.255 million (2021 est.)
Public debt
Public debt 2023 61.3% of GDP (2023 est.)
Budget
Revenues $5.174 billion (2023 est.)
Expenditures $6.308 billion (2023 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 2.9% of GDP (2023 est.)
Remittances 2022 2.8% of GDP (2022 est.)
Remittances 2021 2.9% of GDP (2021 est.)
Household income
Lowest 10% 3% (2021 est.)
Highest 10% 30.2% (2021 est.)
Imports
Imports 2023 $6.834 billion (2023 est.)
Imports 2022 $6.761 billion (2022 est.)
Imports 2021 $5.835 billion (2021 est.)
Imports (partners) Cote d'Ivoire 14%, China 13%, Ghana 9%, Russia 9%, France 7% (2023)
Comodities Imports force refined petroleum, plastic products, cement, electricity, packaged medicine (2023)
Exports
Imports 2023 $6.834 billion (2023 est.)
Imports 2022 $6.761 billion (2022 est.)
Imports 2021 $5.835 billion (2021 est.)
Exports (partners) Switzerland 72%, UAE 10%, India 3%, Mali 3%, Cote d'Ivoire 2% (2023)
Comodities Exports force gold, cotton, oil seeds, coconuts/brazil nuts/cashews, cement (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $60.001 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $57.152 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $55.508 billion (2022 est.)
GDP (official exchange rate) $23.25 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $2,500 (2024 est.)
Real GDP per capita 2023 $2,500 (2023 est.)
Real GDP per capita 2022 $2,500 (2022 est.)
GDP - composition, by sector of origin
Agriculture 18.6% (2024 est.)
Industry 29.7% (2024 est.)
Services 40.2% (2024 est.)
GDP - composition, by end use
Household consumption 60.6% (2024 est.)
Government consumption 18.8% (2024 est.)
Investment in fixed capital 16.5% (2024 est.)
Investment in inventories 10.6% (2024 est.)
Exports of goods and services 28.5% (2024 est.)
Imports of goods and services -34.9% (2024 est.)
Unemployment rate
Unemployment rate 2024 5.2% (2024 est.)
Unemployment rate 2023 5.4% (2023 est.)
Unemployment rate 2022 5.4% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 8.1% (2024 est.)
Male 7.8% (2024 est.)
Female 8.5% (2024 est.)
All Important Facts about Burkina Faso

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Burkina Faso is found in Western Africa