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Burkina Faso

Continent:

Geography

People &
Society

Government

Economy

Energy

Communications

Military &
Security

Transportation

Terrorism

Transnational Issues
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Economy Overview

One of the poorest countries in the world, landlocked Burkina Faso has a high population density, few natural resources, and a fragile soil. About 90% of the population is engaged in (mainly subsistence) agriculture which is highly vulnerable to variations in rainfall. Industry remains dominated by unprofitable government-controlled corporations. Following the African franc currency devaluation in January 1994 the government updated its development program in conjunction with international agencies, and exports and economic growth have increased. Maintenance of its macroeconomic progress in 2000-2001 depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment.

Agriculture Products

peanuts, shea nuts, sesame, cotton, sorghum, millet, corn, rice; livestock

Industries

cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold

Industrial Production Growth Rate

4.2% (1995)

Labor Force

Array

Electricity production

225 million kWh (1998)

Electricity production by source

Fossil fuel: 64.44%

Hydro: 35.56%

Nuclear: 0%

Other: 0% (1998)

Electricity Consumption

209 million kWh (1998)

Electricity Exports

0 kWh (1998)

Electricity Imports

0 kWh (1998)

Currency

1 Communaute Financiere Africaine franc (CFAF) = 100 centimes

Unemployment Rate

NA%

Population Below Poverty Line

NA%

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $277 million

Expenditures: $492 million, including capital expenditures of $233 million (1995 est.)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$1.3 billion (1997)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Note: since 1 January 1999, the CFAF franc is pegged to the euro at a rate of 655.957 CFA francs per euro

Year

Fiscal Year

  • calendar year

GDP Purchasing Power Parity

    Purchasing power parity - $12.4 billion (1999 est.)

GDP Real Growth Rate

    5.5% (1999 est.)

GDP Per Capital

    Purchasing power parity - $1,100 (1999 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    36%
  • Industry
    20%
  • Services
    44% (1997)

Inflation Rate Consumer Prices

    2.5% (1999 est.)

Current Account Balance

Exports

    $311 million (f.o.b., 1998 est.)

Exports Partners

  • Cote
    d'Ivoire
  • Taiwan
  • France
  • Colombia
  • Italy
  • Mali

Exports Commodities

    Cotton, animal products, gold

Imports

    $572 million (f.o.b., 1998 est.)

Imports Partners

  • Cote
    d'Ivoire
  • France
  • Senegal
  • Togo
  • Nigeria
  • US

Imports Commodities

    Machinery, food products, petroleum
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