Economy
Burkina Faso
Budget
revenues
$5.174 billion (2023 est.)
expenditures
$6.308 billion (2023 est.)
Exports
Exports 2021
$6.234 billion (2021 est.)
Exports 2022
$5.814 billion (2022 est.)
Exports 2023
$5.912 billion (2023 est.)
Imports
Imports 2021
$5.835 billion (2021 est.)
Imports 2022
$6.761 billion (2022 est.)
Imports 2023
$6.834 billion (2023 est.)
Industries
cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold
Labor force
6.461 million (2024 est.)
Public debt
Public debt 2023
61.3% of GDP (2023 est.)
Remittances
Remittances 2021
2.9% of GDP (2021 est.)
Remittances 2022
2.8% of GDP (2022 est.)
Remittances 2023
2.9% of GDP (2023 est.)
Exchange rates
Currency
Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2020
575.586 (2020 est.)
Exchange rates 2021
554.531 (2021 est.)
Exchange rates 2022
623.76 (2022 est.)
Exchange rates 2023
606.57 (2023 est.)
Exchange rates 2024
606.345 (2024 est.)
Debt - external
Debt - external 2023
$3.565 billion (2023 est.)
Economic overview
an economy that is predominantly agrarian and low-income; constrained by limited natural resources; experiencing widespread poverty; facing terrorism that hinders economic activity; working towards an improved trade balance through increased gold exports; seeing a rise in inflation after a previous deflation; accumulating public debt that remains manageable
Unemployment rate
Unemployment rate 2022
5.4% (2022 est.)
Unemployment rate 2023
5.4% (2023 est.)
Unemployment rate 2024
5.2% (2024 est.)
Exports - partners
Switzerland 72%, UAE 10%, India 3%, Mali 3%, Cote d'Ivoire 2% (2023)
Imports - partners
Cote d'Ivoire 14%, China 13%, Ghana 9%, Russia 9%, France 7% (2023)
Real GDP per capita
Real GDP per capita 2022
$2,500 (2022 est.)
Real GDP per capita 2023
$2,500 (2023 est.)
Real GDP per capita 2024
$2,500 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
1.5% (2022 est.)
Real GDP growth rate 2023
3% (2023 est.)
Real GDP growth rate 2024
5% (2024 est.)
Agricultural products
maize, sorghum, fruits, vegetables, millet, cowpeas, cotton, groundnuts, sugarcane, rice (2023)
Exports - commodities
gold, cotton, oil seeds, coconuts/brazil nuts/cashews, cement (2023)
Imports - commodities
refined petroleum, plastic products, cement, electricity, packaged medicine (2023)
Current account balance
Current account balance 2021
$77.255 million (2021 est.)
Current account balance 2022
-$1.404 billion (2022 est.)
Current account balance 2023
-$1.017 billion (2023 est.)
Taxes and other revenues
18.4% (of GDP) (2023 est.)
GDP (official exchange rate)
$23.25 billion (2024 est.)
GDP - composition, by end use
household consumption
60.6% (2024 est.)
government consumption
18.8% (2024 est.)
investment in inventories
10.6% (2024 est.)
investment in fixed capital
16.5% (2024 est.)
exports of goods and services
28.5% (2024 est.)
imports of goods and services
-34.9% (2024 est.)
Population below poverty line
43.2% (2021 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
14.3% (2022 est.)
Inflation rate (consumer prices) 2023
0.7% (2023 est.)
Inflation rate (consumer prices) 2024
4.2% (2024 est.)
Industrial production growth rate
-5.4% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$55.508 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$57.152 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$60.001 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
7.8% (2024 est.)
total
8.1% (2024 est.)
female
8.5% (2024 est.)
GDP - composition, by sector of origin
industry
29.7% (2024 est.)
services
40.2% (2024 est.)
agriculture
18.6% (2024 est.)
Household income or consumption by percentage share
lowest 10%
3% (2021 est.)
highest 10%
30.2% (2021 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2021
37.4 (2021 est.)