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
Economy Burkina Faso
Economy - overview:
One of the poorest countries in the world, landlocked Burkina Faso
has few natural resources, a fragile soil, and a highly unequal
distribution of income. About 90% of the population is engaged in
(mainly subsistence) agriculture, which is 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. The internal crisis in neighboring Cote d'Ivoire
continues to hurt trade and industrial prospects and deepens the
need for international assistance.
GDP:
purchasing power parity - $14.51 billion (2002 est.)
GDP - real growth rate:
4.6% (2002 est.)
GDP - per capita:
purchasing power parity - $1,100 (2002 est.)
GDP - composition by sector: agriculture: 35% industry: 17% services: 48% (2001)
Population below poverty line:
45% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 46.8% (1994)
Distribution of family income - Gini index:
48.2 (1994)