|
Landlocked Burkina Faso has
few natural resources and industrial base. About 90% of
the population is engaged in subsistence agriculture.
Cotton is the main cash crop and the government has
joined with three other cotton producing countries in
the region - Mali, Niger, and Chad - to lobby for
improved access to Western markets.
GDP growth has largely
been driven by increases in world cotton prices.
Following the CFA franc currency devaluation in January
1994, the government updated its development program;
exports and economic growth have increased. The
government devolved macroeconomic policy and inflation
targeting to the West African regional central bank (BCEAO),
but maintains control over fiscal and microeconomic
policies, including implementing reforms to encourage
private investment. |
|
GDP (purchasing power
parity) of Burkina Faso:
|
$17.5 billion (2007 est.)
|
|
GDP (official
exchange rate):
|
$6.363 billion (2007 est.)
|
|
GDP - real growth
rate:
|
5.6% (2007 est.)
|
|
GDP - per capita
(PPP):
|
$1,200 (2007 est.)
|
|
GDP of Burkina Faso -
composition by sector:
|
agriculture: 29.4%
industry: 19%
services: 51.7% (2007 est.) |
|
Labor force in
Burkina Faso Africa:
|
5 million
note: a large part of the male labor force
migrates annually to neighboring countries for seasonal
employment (2003) |
|
Labor force in
Burkina Faso - by occupation:
|
agriculture: 90%
industry and services: 10% (2000 est.)
|
|
Unemployment rate:
|
NA% |
|
Population below
poverty line in Burkina Faso:
|
46.4% (2003) |
|
Household income or
consumption by percentage share in Burkina Faso:
|
lowest 10%: 2.8%
highest 10%: 32.2% (2003) |
|
Distribution of
family income - Gini index:
|
39.5 (2003) |
|
Inflation rate
(consumer prices) in Burkina Faso:
|
1.2% (2007 est.)
|
|
Investment (gross
fixed):
|
20.6% of GDP (2007 est.)
|
|
Budget of Burkina
Faso Africa:
|
revenues: $1.311
billion
expenditures: $1.764 billion (2007 est.)
|
|
Agriculture -
products:
|
cotton, peanuts, shea nuts,
sesame, sorghum, millet, corn, rice; livestock
|
|
Industries in Burkina
Faso Africa:
|
cotton lint, beverages,
agricultural processing, soap, cigarettes, textiles,
gold |
|
Industrial production
growth rate in Burkina Faso:
|
5.2% (2007 est.)
|
|
Electricity -
production:
|
516.2 million kWh (2005)
|
|
Electricity in
Burkina Faso Africa - production by source:
|
fossil fuel: 69.9%
hydro: 30.1%
nuclear: 0%
other: 0% (2001) |
|
Electricity -
consumption:
|
480.1 million kWh (2005)
|
|
Electricity -
exports:
|
0 kWh (2005) |
|
Electricity -
imports:
|
0 kWh (2005) |
|
Oil - production:
|
0 bbl/day (2005)
|
|
Oil - consumption:
|
8,300 bbl/day (2005 est.)
|
|
Oil exports from
Burkina Faso:
|
0 bbl/day (2004)
|
|
Oil imports of
Burkina Faso:
|
8,158 bbl/day (2004)
|
|
Oil - proved
reserves:
|
0 bbl (1 January 2006 est.)
|
|
Natural gas -
production:
|
0 cu m (2005 est.)
|
|
Natural gas -
consumption:
|
0 cu m (2005 est.)
|
|
Natural gas -
exports:
|
0 cu m (2005 est.)
|
|
Natural gas -
imports:
|
0 cu m (2005) |
|
Natural gas - proved
reserves:
|
0 cu m (1 January 2006 est.)
|
|
Current account
balance:
|
-$710 million (2007 est.)
|
|
Exports in Burkina
Faso:
|
$683 million f.o.b. (2007
est.) |
|
Exports -
commodities:
|
cotton, livestock, gold
|
|
Exports from Burkina
Faso - partners:
|
China 41.9%, Singapore
14.4%, Ghana 5.9%, Thailand 4.9%, Niger 4.4% (2006)
|
|
Imports into Burkina
Faso Africa:
|
$1.347 billion f.o.b. (2007
est.) |
|
Imports partners of
Burkinabe:
|
Cote d'Ivoire 22.9%, France
20.1%, Zimbabwe 11.4%, Togo 6.3% (2006) |
|
Economic aid -
recipient:
|
$659.6 million (2005)
|
|
Reserves of foreign
exchange and gold of Burkina Faso:
|
$897 million (31 December
2007 est.) |
|
Debt - external:
|
$1.85 billion (2003)
|
|
Market value of
publicly traded shares in Burkina Faso:
|
$NA |
|
Currency of Burkina
Faso Africa (code):
|
Communaute Financiere
Africaine franc (XOF); note - responsible authority is
the Central Bank of the West African States |
|
Currency code:
|
XOF |
|
Exchange rates in
Burkina Faso Africa:
|
Communaute Financiere
Africaine francs (XOF) per US dollar - 493.51 (2007),
522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2
(2003) |
|
Fiscal year in
Burkina Faso:
|
calendar year |
