Flag description: two equal horizontal bands of red (top) and green with a yellow five-pointed star in the center; uses the popular pan-African colors of Ethiopia
Burkina Faso Economy
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 its macroeconomic progress in 2001-02 depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment.
GDP: purchasing power parity - $12 billion (2000 est.)
GDP - real growth rate: 5% (2000 est.)
GDP - per capita: purchasing power parity - $1,000 (2000 est.)
GDP - composition by sector: agriculture: 26%
industry: 27%
services: 47% (1998)
Population below poverty line: NA%