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    Burkina Faso Economy 2000

      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 2000-2001 depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment.

      GDP: purchasing power parity - $12.4 billion (1999 est.)

      GDP - real growth rate: 5.5% (1999 est.)

      GDP - per capita: purchasing power parity - $1,100 (1999 est.)

      GDP - composition by sector:
      agriculture: 36%
      industry: 20%
      services: 44% (1997)

      Population below poverty line: NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices): 2.5% (1999 est.)

      Labor force: 4.679 million (persons 10 years old and over, according to a sample survey taken in 1991)
      note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment

      Labor force - by occupation: agriculture NA%, industry NA%, services NA%

      Unemployment rate: NA%

      Budget:
      revenues: $277 million
      expenditures: $492 million, including capital expenditures of $233 million (1995 est.)

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

      Industrial production growth rate: 4.2% (1995)

      Electricity - production: 225 million kWh (1998)

      Electricity - production by source:
      fossil fuel: 64.44%
      hydro: 35.56%
      nuclear: 0%
      other: 0% (1998)

      Electricity - consumption: 209 million kWh (1998)

      Electricity - exports: 0 kWh (1998)

      Electricity - imports: 0 kWh (1998)

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

      Exports: $311 million (f.o.b., 1998 est.)

      Exports - commodities: cotton, animal products, gold

      Exports - partners: Cote d'Ivoire, Taiwan, France, Colombia, Italy, Mali

      Imports: $572 million (f.o.b., 1998 est.)

      Imports - commodities: machinery, food products, petroleum

      Imports - partners: Cote d'Ivoire, France, Senegal, Togo, Nigeria, US

      Debt - external: $1.3 billion (1997)

      Economic aid - recipient: $484.1 million (1995)

      Currency: 1 Communaute Financiere Africaine franc (CFAF) = 100 centimes

      Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1 - 647.25 (January 2000), 615.70 (1999), 589.95 (1998), 583.67 (1997), 511.55 (1996), 499.15 (1995)
      note: since 1 January 1999, the CFAF franc is pegged to the euro at a rate of 655.957 CFA francs per euro

      Fiscal year: calendar year

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    Revised 01-Nov-00
    Copyright © 2000 Photius Coutsoukis (all rights reserved)


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