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Burkina Faso

Includes historical data for Burkina Faso’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

A Poor Country Rich In Resources

Despite being a major producer of cotton and gold, this landlocked country remains among the world’s poorest. With about 80% of the population engaged in subsistence farming, its economy is inextricably dependent on adequate rainfall. To pursue its economic development and diversification, Burkina Faso encourages foreign investment with tax rates below the regional average and additional incentives. While the bulk of foreign capital continues to flow into the mining industry, investors are also active in the agriculture, banking, transport and logistics, energy and telecommunications sectors. A member of the West African Economic and Monetary Union, the country also enjoys support from the international financial community.

Yet, burdensome regulations and opaque practices still hinder the growth of a more vibrant private sector. Other challenges include unreliable energy supplies, poor transportation infrastructure and a large informal sector. Particularly concerning is the deteriorating political stability and security environment, with coup attempts reportedly triggered by the government’s inability to counter armed Islamist groups controlling large swaths of the country.

Macroeconomy & Sovereign Data

Type of Government Presidential republic
Capital Ouagadougou
Sovereign Ratings S&P: CCC+
Moody’s: Not rated
Fitch: Not rated
Total Population 24.1 million
Median Age 17.0
Adult Per Capita Income (PPP) 5,049.14
Total GDP (2023) 21.9 billion

Burkina Faso GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 4.1 billion (2023)
Leading Exports Gold
Sesame Seeds
Total Imports USD 4.9 billion (2022)
Leading Imports Refined Petroleum
Delivery Trucks
Packaged Medicines
Source: World Integrated Trade Solution

Burkina Faso Leading Companies

Bank of Africa Burkina Faso Financials
Banque Internationale pour le Commerce, l'Industrie et l'Agriculture Financials
Essakane Gold Mine Materials, Metals & Mining
Société des Mines de Belahouro Materials, Metals & Mining
Société Burkinabè des Fibres Textiles Consumer Durables, Textiles
Onatel Telecommunication Services
Société Nationale d'Électricité du Burkina Faso Utilities

Major Trade Partners — Import

China 14%
Côte d'Ivoire 8%
France 8%
United States 7%
Ghana 6%

Source: World Integrated Trade Solution

Major Trade Partners — Export

Switzerland 73%
India 10%
Singapore 4%
Côte d'Ivoire 9%
Mali 2%

Source: World Integrated Trade Solution

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


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