Country Information - Burkina Faso

ECONOMIC BACKGROUND Burkina Faso, a former French colony that achieved independence in 1960, saw multiparty elections in the early 1990’s following two decades of military rule. Totally landlocked (see pop-up map), the country is nestled between Mali, Niger, Benin, Togo, Ghana and the Ivory Coast. It is one of the poorest countries in Africa, with relatively few natural resources. With about 90% of the population engaged in mainly subsistence agriculture, cotton is one of the country’s key crops, followed by nuts, sesame, sorghum and livestock. Industrial activity is dominated by government-controlled enterprises. 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 neighbouring Cote d'Ivoire continues to negatively affect trade and industrial prospects, and has deepened the need for international assistance. The country’s estimated GDP in 2004 was US$14,5bn, with a real growth rate of 5,2%. In terms of the composition of GDP, approximately 40% consists of agriculture, 20% industrial output and 40% services. Click here for Country Map [23kB]

BI-LATERAL TRADE OVERVIEW Little bilateral trade takes place between the United States and Burkina Faso, with the value of total trade reaching US$ 11mn in 2003. This represents a sharp decline from the previous year. Burkina Faso’s imports from the U.S. exceeded exports more than ten-fold. Burkina’s imports from the US in 2003 were evenly distributed in the agricultural, textiles, chemicals, electronics and machinery categories (follow the link below). Exports to the US were in agricultural categories. The country’s AGOA-eligibility was extended in December 2004, following the United States’ annual review of AGOA beneficiaries. Detailed bilateral trade data for this country, disaggregated by industry sector, can be accessed by following this link. Aggregate data featuring all AGOA-eligible countries is updated on this website as soon as new data is published, including ranked AGOA / non-AGOA trade, aggregate trade by industry sector as well as the latest apparel trade data. Click here for Detailed Trade Profile