| Economy | Burundi |
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Economy - overview:
|
Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural which accounts for just over 30% of GDP and employs more than 90% of the population. Burundi's primary exports are coffee and tea, which account for 90% of foreign exchange earnings, though exports are a relatively small share of GDP. Burundi's export earnings - and its ability to pay for imports - rests primarily on weather conditions and international coffee and tea prices. The Tutsi minority, 14% of the population, dominates the coffee trade. An ethnic-based war that lasted for over a decade resulted in more than 200,000 deaths, forced more than 48,000 refugees into Tanzania, and displaced 140,000 others internally. Only one in two children go to school, and approximately one in 15 adults has HIV/AIDS. Food, medicine, and electricity remain in short supply. Less than 2% of the population has electricity in its homes. Burundi's GDP grew around 4% annually in 2006-11. Political stability and the end of the civil war have improved aid flows and economic activity has increased, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, a poor transportation network, overburdened utilities, and low administrative capacity - risk undermining planned economic reforms. The purchasing power of most Burundians has decreased as wage increases have not kept up with inflation. Burundi will continue to remain heavily dependent on aid from bilateral and multilateral donors--Burundi's foreign aid represents 42% of its national income, the second highest rate in Sub-Saharan Africa; the delay of funds after a corruption scandal cut off bilateral aid in 2007 reduced government's revenues and its ability to pay salaries. Burundi joined the East African Community, which should boost Burundi's regional trade ties, and received $700 million in debt relief in 2009. Government corruption is also hindering the development of a healthy private sector as companies seek to navigate an environment with ever-changing rules. |
GDP (purchasing power parity):
|
$3.672 billion (2011 est.)
$3.468 billion (2010 est.)
$3.366 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$400 (2011 est.)
$400 (2010 est.)
$400 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$1.7 billion (2011 est.) |
GDP - real growth rate:
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4.2% (2011 est.)
3.9% (2010 est.)
3.5% (2009 est.) |
GDP - composition by sector:
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agriculture: 31.1%
industry: 21.5%
services: 47.4% (2011 est.) |
Investment (gross fixed):
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35.4% of GDP (2011 est.) |
Population below poverty line:
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68% (2002 est.) |
Household income or consumption by percentage share:
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lowest 10%: 4.1%
highest 10%: 28% (2006) |
Distribution of family income - Gini index:
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42.4 (1998) |
Inflation rate (consumer prices):
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9% (2011 est.)
6.4% (2010 est.) |
Central bank discount rate:
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11.25% (31 December 2010 est.)
10% (31 December 2009 est.) |
Commercial bank prime lending rate:
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17% (31 December 2011 est.)
12.4% (31 December 2010 est.) |
Stock of money:
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$261.6 million (31 December 2008)
$208.7 million (31 December 2007) |
Stock of money - per capita:
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26 USD per capita |
Stock of quasi money:
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$189.9 million (31 December 2008)
$141 million (31 December 2007) |
Stock of quasi money - per capita:
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19 USD per capita |
Stock of domestic credit:
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$426.5 million (31 December 2011 est.)
$437.1 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
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42 USD per capita |
Stock of narrow money:
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$383.2 million (31 December 2010 est.)
$313.7 million (31 December 2009 est.) |
Stock of broad money:
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$520.6 million (31 December 2011 est.)
$628.4 million (31 December 2010 est.) |
Labor force:
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4.245 million (2007) |
Labor force participation rate:
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41.55 % of population |
Labor force - by occupation:
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agriculture: 93.6%
industry: 2.3%
services: 4.1% (2002 est.) |
Unemployment rate:
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NA% |
Unemployment, youth ages 15-24:
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void |
Budget:
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revenues: $420.8 million
expenditures: $559.1 million (2011 est.) |
Budget revenues per capita:
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42 USD per capita |
Taxes and other revenues:
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24.8% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-8.1% of GDP (2011 est.) |
Public debt:
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void |
Industries:
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light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing |
Industrial production growth rate:
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7% (2010 est.) |
Electricity - production:
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208 million kWh (2008 est.) |
Electricity - production per capita:
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21 kWh per capita |
Electricity - consumption:
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273.4 million kWh (2008 est.) |
Electricity - consumption - per capita:
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27 kWh per capita |
Electricity - exports:
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0 kWh (2009 est.) |
Electricity - imports:
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80 million kWh; note - supplied by the Democratic Republic of the Congo (2008 est.) |
Oil - production:
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0 bbl/day (2010 est.) |
Oil - production per capita:
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void |
Oil - consumption:
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3,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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0.11 bbl/year per capita |
Oil - exports:
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0 bbl/day (2009 est.) |
Oil - imports:
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2,450 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2011 est.) |
Agriculture - products:
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coffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, hides |
Current account balance:
|
-$214 million (2011 est.)
-$157.5 million (2010 est.) |
Current account balance - per capita:
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-20 USD per capita |
Exports:
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$106.7 million (2011 est.)
$87.2 million (2010 est.) |
Exports per capita:
|
11 USD per capita |
Exports - commodities:
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coffee, tea, sugar, cotton, hides |
Exports - partners:
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Germany 27.5%, Pakistan 10.3%, Belgium 5.7%, Rwanda 5%, US 4.2%, China 4.1% (2010) |
Imports:
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$543 million (2011 est.)
$506.7 million (2010 est.) |
Imports per capita:
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54 USD per capita |
Imports - commodities:
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capital goods, petroleum products, foodstuffs |
Imports - partners:
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Saudi Arabia 15.8%, Uganda 7.8%, Belgium 7.6%, China 7.5%, Kenya 6.9%, Zambia 6.4%, France 4.2% (2010) |
Reserves of foreign exchange and gold:
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$409.5 million (31 December 2011 est.)
$332.1 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
41 USD per capita |
Debt - external:
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$1.2 billion (2003) |
Debt - external - per capita:
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118 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
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void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
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$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Burundi franc (BIF) |
Exchange rates:
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Burundi francs (BIF) per US dollar -
1,251.3 (2011 est.)
1,138.25 (2010 est.)
1,230.18 (2009)
1,198 (2008)
1,065 (2007) |
Fiscal year:
|
calendar year |
|
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