Burkina Faso: Economic Outline

Economic Indicators

Significantly affected by the effects of the energy, cotton industry, food industry and financial sector crises of the 2009, Burkina Faso's growth again accelerated in 2010, reaching 4.4% (compared to 3.2% in 2009) The contry is extremely vulnerable to external economic shocks due to its weak economic diversification and a great dependence on cotton and gold exports.

As part of the accord signed with the IMF as part of the Extended Credit Facility framework, Burkina Faso has began a reform program aiming to preserve macroeconomic stability and diversify the economy. Balacking public finances, increasing spending on basic infrastructures and welfare services, as well as reforming the financial system and improving the business climate are at the center of this program.

Burkina Faso is one of the poorest nations in the world. Poverty affects more than 40% of the population.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	8.36	8.96	10.07	10.84	11.63
GDP (Constant Prices, Annual % Change)	3.2	7.9e	4.9	5.6	6.0
GDP per Capita (USD)	582	610e	670e	705	739
General Government Gross Debt (in % of GDP)	26.1	27.1e	29.1e	29.9	30.5
Inflation Rate (%)	2.6	-0.6	1.9e	2.0	2.0
Current Account (billions USD)	-0.35	-0.31	-0.16	-0.57	-0.61
Current Account (in % of GDP)	-4.2	-3.5e	-1.6e	-5.2	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	1,682	1,835	-
CFA Franc BCEAO (XOF) - Average Annual Exchange Rate For 1 USD	447.81	472.19	495.28

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	85.1	3.4	11.4
Value Added (in % of GDP)	33.3	22.4	44.4
Value Added (Annual % Change)	2.7	6.0	6.3