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 |
Burkina Faso
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