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    Burkina Faso Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/burkina_faso/burkina_faso_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview One of the poorest countries in the world, landlocked Burkina Faso has a high population density, few natural resources, and a fragile soil. About 90% of the population is engaged in (mainly subsistence) agriculture, which is highly vulnerable to variations in rainfall. Industry remains dominated by unprofitable government-controlled corporations. Following the African franc currency devaluation in January 1994 the government updated its development program in conjunction with international agencies, and exports and economic growth have increased. Maintenance of macroeconomic progress depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment.

      GDP purchasing power parity - $12.8 billion (2001 est.)

      GDP - real growth rate 4.7% (2001 est.)

      GDP - per capita purchasing power parity - $1,040 (2001 est.)

      GDP - composition by sector
      agriculture: 31%
      industry: 28%
      services: 41% (2000)

      Population below poverty line 45% (2001 est.)

      Household income or consumption by percentage share
      lowest 10%: 2.2%
      highest 10%: 39.5% (1994)

      Distribution of family income - Gini index 48.2 (1994)

      Inflation rate (consumer prices) 3.5% (2001 est.)

      Labor force 5 million (1999)
      note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment

      Labor force - by occupation agriculture 90% (2000 est.)

      Unemployment rate NA%

      Budget
      revenues: $316 million
      expenditures: $NA, including capital expenditures of $NA (2001)

      Industries cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold

      Industrial production growth rate 14% (2001 est.)

      Electricity - production 282 million kWh (2000)

      Electricity - production by source
      fossil fuel: 70.92%
      hydro: 29.08%
      other: 0% (2000)
      nuclear: 0%

      Electricity - consumption 262.26 million kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 0 kWh (2000)

      Agriculture - products peanuts, shea nuts, sesame, cotton, sorghum, millet, corn, rice; livestock

      Exports $265 million (f.o.b., 2001 est.)

      Exports - commodities cotton, animal products, gold

      Exports - partners Venezuela 14.7%, Benelux 12.2%, Italy 9.6%, France 7.0% (2000)

      Imports $580 million (f.o.b., 2001 est.)

      Imports - commodities capital goods, food products, petroleum

      Imports - partners Cote d'Ivoire 25.1%, Venezuela 23.4%, France 17.0% (2000)

      Debt - external $1.5 billion (1999)

      Economic aid - recipient $484.1 million (1995)

      Currency Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States

      Currency code XOF

      Exchange rates Communaute Financiere Africaine francs (XOF) per US dollar - 742.79 (January 2002), 733.04 (2001), 711.98 (2000), 615.70 (1999), 589.95 (1998), 583.67 (1997); note - from 1 January 1999, the XOF is pegged to the euro at a rate of 655.957 XOF per euro

      Fiscal year calendar year

      NOTE: The information regarding Burkina Faso on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burkina Faso Economy 2002 information contained here. All suggestions for corrections of any errors about Burkina Faso Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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