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. Cotton is the key crop. 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 - $14.55 billion (2003 est.)
GDP - real growth rate:
5.2% (2003 est.)
GDP - per capita:
purchasing power parity - $1,100 (2003 est.)
GDP - composition by sector: agriculture: 39.8% industry: 19.6% services: 40.5% (2003)
Investment (gross fixed):
29% of GDP (2003)
Population below poverty line:
45% (2003 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)