| Economy | Burkina Faso |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Burkina Faso is a poor, landlocked country that relies heavily on cotton and gold exports for revenue. The country has few natural resources and a weak industrial base. About 90% of the population is engaged in subsistence agriculture, which is vulnerable to periodic drought. Cotton is the main cash crop. Since 1998, Burkina Faso has embarked upon a gradual privatization of state-owned enterprises and in 2004 revised its investment code to attract foreign investment. As a result of this new code and other legislation favoring the mining sector, the country has seen an upswing in gold exploration and production. By 2010, gold had become the main source of export revenue. Gold mining production doubled between 2009 and 2010 and two new mining projects were launched the third quarter of 2011. Local community conflict persists in the mining and cotton sectors, but the Prime Minister has made efforts to defuse some of the economic cause of public discontent, including announcing income tax reductions, reparations for looting victims, and subsidies for basic food items and fertilizer. An IMF mission to Burkina Faso in October 2011 expressed general satisfaction with the measures. The risk of a mass exodus of the 3 to 4 million Burinabe who live and work in Cote D'Ivoire has dissipated and trade, power, and transport links are being restored. |
GDP (purchasing power parity):
|
$21.83 billion (2011 est.)
$20.81 billion (2010 est.)
$19.28 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$1,500 (2011 est.)
$1,400 (2010 est.)
$1,300 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$10.1 billion (2011 est.) |
GDP - real growth rate:
|
4.9% (2011 est.)
7.9% (2010 est.)
3.2% (2009 est.) |
GDP - composition by sector:
|
agriculture: 34.1%
industry: 23.2%
services: 42.8% (2011 est.) |
Investment (gross fixed):
|
20.8% of GDP (2011 est.) |
Population below poverty line:
|
46.4% (2004) |
Household income or consumption by percentage share:
|
lowest 10%: 2.8%
highest 10%: 32.2% (2004) |
Distribution of family income - Gini index:
|
39.5 (2007)
48.2 (1994) |
Inflation rate (consumer prices):
|
3.6% (2011 est.)
-0.8% (2010 est.) |
Central bank discount rate:
|
4.25% (31 December 2010 est.)
4.25% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
NA% |
Stock of money:
|
$1.068 billion (31 December 2008)
$1.051 billion (31 December 2007) |
Stock of money - per capita:
|
64 USD per capita |
Stock of quasi money:
|
$751.3 million (31 December 2008)
$663 million (31 December 2007) |
Stock of quasi money - per capita:
|
45 USD per capita |
Stock of domestic credit:
|
$1.787 billion (31 December 2011 est.)
$1.463 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
107 USD per capita |
Stock of narrow money:
|
$1.584 billion (31 December 2011 est.)
$1.343 billion (31 December 2010 est.) |
Stock of broad money:
|
$3.018 billion (31 December 2011 est.)
$2.547 billion (31 December 2010 est.) |
Labor force:
|
6.668 million
note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment (2007) |
Labor force participation rate:
|
39.81 % of population |
Labor force - by occupation:
|
agriculture: 90%
industry and services: 10% (2000 est.) |
Unemployment rate:
|
77% (2004) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $2.28 billion
expenditures: $2.769 billion (2011 est.) |
Budget revenues per capita:
|
137 USD per capita |
Taxes and other revenues:
|
22.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-4.8% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold |
Industrial production growth rate:
|
5.5% (2010 est.) |
Electricity - production:
|
664.4 million kWh (2009 est.) |
Electricity - production per capita:
|
40 kWh per capita |
Electricity - consumption:
|
683.5 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
41 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
144.6 million kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
9,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.20 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
8,560 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
cotton, peanuts, shea nuts, sesame, sorghum, millet, corn, rice; livestock |
Current account balance:
|
-$1.106 billion (2011 est.)
-$850.6 million (2010 est.) |
Current account balance - per capita:
|
-66 USD per capita |
Exports:
|
$1.591 billion (2011 est.)
$1.336 billion (2010 est.) |
Exports per capita:
|
95 USD per capita |
Exports - commodities:
|
cotton, livestock, gold |
Exports - partners:
|
China 17.3%, Belgium 11.6%, Singapore 9.3%, Indonesia 7.6%, Turkey 6.4%, Thailand 4.8%, Japan 4.2% (2010) |
Imports:
|
$2.25 billion (2011 est.)
$1.663 billion (2010 est.) |
Imports per capita:
|
135 USD per capita |
Imports - commodities:
|
capital goods, foodstuffs, petroleum |
Imports - partners:
|
Cote dIvoire 26.1%, France 16%, Togo 5.3%, Ghana 4.7% (2010) |
Reserves of foreign exchange and gold:
|
$1.079 billion (31 December 2011 est.)
$1.068 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
65 USD per capita |
Debt - external:
|
$2.479 billion (31 December 2011 est.)
$2.05 billion (31 December 2010 est.) |
Debt - external - per capita:
|
148 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States |
Exchange rates:
|
Communaute Financiere Africaine francs (XOF) per US dollar -
473.7 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
493.51 (2007) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
