Economy of Burkina Faso
Population: 19.75 M (2018)
GDP per Capita: 715 USD (2018)
14,120 M.

GDP USD

(2018)

Display Chart
4,350 M.

EXPORTS USD

(2018)

Display Chart
5,260 M.

IMPORTS USD

(2018)

Display Chart
38.42 %

PUBLIC DEBT

(2017)

Display Chart
Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.83 % (2018)
GDP of 2010 USD USD 14.10 B. (2018)
GDP Current USD USD 14.12 B. (2018)
GDP per Capita Current USD USD 715 (2018)
GDP per capita, PPP USD 1,761 (2018)
GDP per Capita, 2010 USD USD 712 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 26.69 % (2018)
Government Spending USD 3.77 B. (2018)
Government Debt % GDP 38.42 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 139.04 (2018)
Trade Openness 68.03 % (2018)
Exports of Goods and Services % GDP 30.79 % (2018)
Exports Goods & Services USD 4.35 B. (2018)
Exports Annual Growth 8.07 % (2018)
Imports as % GDP 37.24 % (2018)
Total Imports USD 5.26 B. (2018)
Foreign Direct Investment % GDP 3.40 % (2018)
Foreign Direct Investment USD 0.48 B. (2018)
Current Account Balance % GDP USD % (2018)
Current Account Balance USD B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD B. (2018)
Foreign Exchange Reserves incl Gold
Remittances % GDP 3.10 % (2018)
Remittances USD 380 M. (2017)
Balance of Payments USD 7 M. (2015)

Labor Market

Indicator Value
Labor Force 7.47 M. (2019)
Unemployment Rate 6.15 % (2019)
Unemployment Rate Females 9.22 % (2019)
Unemployment Rate Males 3.88 % (2019)
Youth Unemployment (ages 15-24) 8.12 % (2019)
Labor Force Participation Rate 66.49 % (2019)
Labor Force (Percent Female) 44.62 % (2019)
Female Labor Force Participation Rate 58.29 % (2019)
Male Labor Force Participation Rate 74.96 % (2019)
Dependent People 89.95 % (2018)

Agriculture Sector

Indicator Value
Forest Area 19.30 % (2016)
Forest Area km² 52,902 km² (2016)
Agricultural Land 44.23 % (2016)
Agricultural Land km² 121,000 km² (2016)
Employment 28.31 % (2019)
Value added % GDP 28.03 % (2018)
Agriculture Value added USD 3.96 B. (2018)
Crop Production Index 144.90 (2016)
Precipitation 748 mm (2014)
Arable Land 22 % (2016)
Cereal Yield 1,009 kg/hectare (2017)
Food production index 127 (2016)
Rural Population 71 % (2018)
Fertilizer use of Arable Land 22 kg/hectare (2016)
Livestock Production Index 84 (2016)
Economy of Burkina Faso

According to the World Bank and its latest published data, the economy of the Burkina Faso presents a growth rate of 6.83 % (2018) to the previous year.

With a population that reaches 19.75 M (2018) and a gross domestic product of USD 14.12 B. (2018), it translates a Gross Domestic Product per Capita of USD 715 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Burkina Faso also has a workforce of 7.47 M. (2019) with an unemployment rate of 6.15 % (2019), where women represent 9.22 % (2019) and men 3.88 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.12 % (2019). The total number of dependent people stands at 89.95 % (2018).

The central government spent 26.69 % (2018) of its gross domestic product that year, which in absolute terms is USD 3.77 B. (2018). Its consolidated public debt reached 38.42 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Burkina Faso exported USD 4.35 B. (2018), which represents 30.79 % (2018) of its gross domestic product, in that same sense its imports reached USD 5.26 B. (2018) with a direct foreign investment of USD 0.48 B. (2018).

Burkina Faso has a forest area of 52,902 km² (2016), which represents 19.30 % (2016) of its total area, an average rainfall of 748 mm (2014) per year and a population of 71 % (2018) living in rural areas. With a total area of 121,000 km² (2016) available for agriculture and 28.31 % (2019) of its employments, the agricultural sector contributes to the economy of the Burkina Faso about USD 3.96 B. (2018) (28.03 % (2018) of its GDP).