Browse a full set of economic indicators

Burkina Faso

Includes Burkina Faso real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Burkina Faso economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Burkina Faso best banks and safest banks are also available.

Basic Information

Government Type: Presidential republic

Capital City: Ouagadougou

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Central Bank of West African States (BCEAO)

Currency Communaute Financiere Africaine francs (XOF)

International Reserves N/A
Gross Domestic Product – GDP USD 14.2 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 38.8 billion (2018, estimate)

GDP Data

Real GDP growth 2007: 4.4%
2008: 5.8%
2009: 3%
2010: 8.4%
2011: 6.6%
2012: 6.5%
2013: 5.8%
2014: 4.3%
2015: 3.9%
2016: 5.9%
2017*: 6.3%
2018*: 6%

*Estimate
GDP per capita – current prices USD 728.7 (2018, estimate)

GDP per capita – PPP Intl$ 1,996.1 (2018, estimate)

GDP (PPP) – share of world total 1980: 0.02%
1990: 0.02%
2000: 0.02%
2010: 0.03%
2019*: 0.03%

*Estimate
GDP – composition by sector agriculture: 28.6%
industry: 19.7%
services: 43.2%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015: 0.9%
2016: -0.2%
2017: 0.4%
2018*: 2%
2019*: 1.1%

*Estimate

Inflation & Debt

Inflation 2015: 0.9%
2016: -0.2%
2017: 0.4%
2018*: 2%
2019*: 1.1%

*Estimate
Government Bond Ratings Standard & Poor’s: B

Moody’s: N/A

Standard & Poor’s / Moody’s
Unemployment rate N/A
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015: 35.6%
2016: 39.2%
2017: 38.4%
2018*: 42.9%
2019*: 42.9%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015: -2.4%
2016: -3.6%
2017: -7.9%
2018*: -5%
2019*: -3%

*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 28.7% (2018)
Shares in world total merchandising export 0.02% (2018)
Shares in world total commercial services export 0.009% (2018)
Total exports USD 4.2 billion (2018 estimate)
Export commodities Gold, cotton, livestock
Total imports USD 5.2 billion (2018 estimate)
Import commodities Capital goods, foodstuffs, petroleum
Exports – major partners Switzerland 44.9%, India 15.6%, South Africa 11.3%, Cote dIvoire 4.9% (2017)
Imports – major partners China 13.2%, Cote dIvoire 9.5%, US 8.2%, Thailand 8.1%, France 6.5%, Ghana 4.4%, Togo 4.4%, India 4.3% (2017)

Competitiveness & Trade

Current account balance USD -0.8 billion (2018 estimate)
Current account balance by percentage of GDP -5.8 % (2018 estimate)
FDI inflows 2016: USD 390 million
2017: USD 2.6 million
2018: USD 480 million
FDI Outflows 2016: USD 50 million
2017: USD 10 million
2018: USD 69 million
Value of cross-border M&A, by country of purchaser 2015: N/A
2016: N/A
2017: USD 1.6 million
2018: N/A
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

151 out of 190 countries

Subcategories:
Starting a Business: 88 out of 190 countries
Dealing with Construction Permits: 95 out of 190 countries
Getting Electricity: 183 out of 190 countries
Registering Property: 141 out of 190 countries
Getting Credit: 152 out of 190 countries
Protecting Minority Investors: 120 out of 190 countries
Paying Taxes: 154 out of 190 countries
Trading across Borders: 122 out of 190 countries
Enforcing Contracts: 165 out of 190 countries
Resolving Insolvency: 109 out of 190 countries
Global competitiveness ranking 130 out of 141 countries

(2019)
Index of Economic Freedom Ranking: 96 / Score: 59.4 (Mostly unfree)

(100=totally free 0=totally repressed)

Population & Geographic Data

Time Zone UTC 0
Total Area 274,200 sq km
Total Population 1990: 8.81 million
2000: 11.61 million
2010: 15.61 million
2015: 18.11 million
2020*: 20.92 million

*Estimate
Urban population as % of total population 1960: 4.7%
1980: 8.8%
2000: 17.8%
2018: 29.4%
Population median age 17.4 years
Population growth rate 2.76% (2018 estimate)
Life expectancy 60.77 years (2017 estimate)
% of population living on less than $3.10 a day 76.4% (last available estimate, 2014)
Inequality of wealth distribution (Gini index)
35.3 (last available estimate, 2014)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Partly Free
Political Rights: 4
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)

Total telephone subscribers as % of population
Fixed: 0.4%

Mobile: 97.9%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 16 % (2017)

Language & Religon

Languages French (official), native African languages belonging to Sudanic family spoken by 90% of the population
Literacy Total population: 36%
Male: 43%
Female: 29.3%
Definition: age 15 and over can read and write (2015 est.)
Religions Muslim 61.5%, Roman Catholic 23.3%, traditional/animist 7.8%, Protestant 6.5%, other/no answer 0.2%, none 0.7% (2010 est.)

World Rankings

Population 20.92 M
Mercer Cost of living index Ouagadougou: 145th (2019)

C02 Emissions per capita 0.16 metric tons per capita (2014)

Global Finance Rankings & Awards: Burkina Faso

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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