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Encyclopedia > Economy of Burkina Faso
Economy of Burkina Faso
Currency CFA Franc (XOF)
Fiscal year Calendar year
Trade organisations AU, WTO
Statistics [1]
GDP ranking 118th (2004) [2]
GDP $15.74 billion (2004)
GDP growth 4.8% (2004)
GDP per capita $1,200 (2004)
GDP by sector agriculture (39.5%), industry (19.3%), services (41.3%) (2004)
Inflation 2.4% (2004)
Pop below poverty line 45% (2003)
Labour force 5 million (note: a large part of the male labor force migrates annually to neighboring countries for seasonal employment) (2003)
Labour force by occupation agriculture (90%), (2000)
Unemployment N/A
Main industries cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold
Trading Partners [3]
Exports $418.6 million (2004)
Export - Commodities cotton, livestock, gold
Main partners China 32.3%, Singapore 10.7%, Bangladesh 4.5%, Ghana 4.4%, Colombia 4.4% (2004)
Imports $866.3 million (2004)
Imports - Commodities capital goods, foodstuffs, petroleum
Main Partners France 31.5%, Cote d'Ivoire 13.9%, Togo 8.5% (2004)
Public finances [4]
Public debt N/A
Revenues $695.2 million (2004)
Expenses $876.3 million (2004)
Economic aid $484.1 million (1995)

Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). More than 80% of the population relies on subsistence agriculture, with only a small fraction directly involved in industry and services. Low rainfall, poor soils, lack of adequate communications and other infrastructure, a low literacy rate, and a stagnant economy are all longstanding problems. The export economy also remains subject to fluctuations in world prices. The countries using the CFA franc The CFA franc (in French: franc CFA, or just franc in everyday conversation if no ambiguity is possible) is a currency used in 12 formerly French-ruled African countries, as well as in Guinea-Bissau (former Portuguese colony) and in Equatorial Guinea (former Spanish... The countries using the CFA franc The CFA franc (in French: franc CFA, or just franc in everyday conversation if no ambiguity is possible) is a currency used in 12 formerly French-ruled African countries, as well as in Guinea-Bissau (former Portuguese colony) and in Equatorial Guinea (former Spanish... Anthem: Let us all unite and celebrate together Official languages The African languages, as well as Arabic, Swahili, English, French and Portuguese Some member states have other official languages. ... WTO Logo The World Trade Organization (WTO) is an international, multilateral organization which sets the rules for the global trading system and resolves disputes between its member states, all of whom are signatories to its about 30 agreements. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... Services are: plural of service Tertiary sector of industry IRC services Web services the name of a first-class cricket team in India This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... 2003 is a common year starting on Wednesday of the Gregorian calendar, and also: The International Year of Freshwater The European Disability Year Events January events January 1 Luíz Inácio Lula Da Silva becomes the 37th President of Brazil. ... 2003 is a common year starting on Wednesday of the Gregorian calendar, and also: The International Year of Freshwater The European Disability Year Events January events January 1 Luíz Inácio Lula Da Silva becomes the 37th President of Brazil. ... This article is in need of attention. ... Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ... Cotton plant as imagined and drawn by John Mandeville in the 14th century Cotton is a soft fiber that grows around the seeds of the Cotton plant (Gossypium spp. ... The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... SOAP is a protocol for exchanging XML-based messages over a computer network, normally using HTTP. SOAP forms the foundation layer of the web services stack, providing a basic messaging framework that more abstract layers can build on. ... A cigarette will burn to ash on one end. ... This article is about the type of fabric. ... It has been suggested that Gold bar be merged into this article or section. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... Cotton plant as imagined and drawn by John Mandeville in the 14th century Cotton is a soft fiber that grows around the seeds of the Cotton plant (Gossypium spp. ... Sheep are commonly bred as livestock. ... It has been suggested that Gold bar be merged into this article or section. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... Nodding donkey pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and oleum – oil or Latin petra – rock and oleum – oil ), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish liquid. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 1995 was a common year starting on Sunday of the Gregorian calendar. ... Subsistence agriculture is agriculture carried out for survival — with few or no crops available for sale. ... The service sector or the service industry, is one of the three main industrial categories of a developed economy, the others being the secondary industry (manufacturing and primary goods production such as agriculture), and primary industry (extraction such as mining and fishing). ... Soil is material capable of supporting plant life. ...


Although handicapped by an extremely resource-deprived domestic economy, Burkina remains committed to the structural adjustment program it launched in 1991. It has largely recovered from the devaluation of the CFA in January 1994, with a 1996 growth rate of 5.9%. Structural adjustment is a term used by the International Monetary Fund for the changes it recommends for developing countries. ... 1991 (MCMXCI) is a common year starting on Tuesday of the Gregorian calendar. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated the International year of the Family. ... 1996 (MCMXCVI) is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ...


Many Burkinabe migrate to neighbouring countries for work, and their remittances provide a substantial contribution to the balance of payments. Burkina is attempting to improve the economy by developing its mineral resources, improving its infrastructure, making its agricultural and livestock sectors more productive and competitive, and stabilizing the supplies and prices of cereals. This article is about minerals in the geologic sense; for nutrient minerals see dietary mineral; for the band see Mineral (band). ... A farmer in Germany working the land in the traditional way, with horse and plough Agriculture is the process of producing food, feed, fiber and other desired products by the cultivation of certain plants and the raising of domesticated animals (livestock). ... Cereal crops are mostly grasses cultivated for their edible seeds (actually a fruit called a caryopsis). ...


The agricultural economy remains highly vulnerable to fluctuations in rainfall. The Mossi Plateau in north central Burkina faces encroachment from the Sahara. The resultant southward migration means heightened competition for control of very limited water resources south of the Mossi Plateau. Most of the population ekes out a living as subsistence farmers, living with problems of climate, soil erosion, and rudimentary technology. The staple crops are millet, sorghum, maize, and rice. The cash crops are cotton, groundnuts, karite (shea nuts), and sesame. Livestock, once a major export, has declined. Water resources are sources of water that are useful or potentially useful to humans. ... Insert non-formatted text hereInsert non-formatted text hereInsert non-formatted text here Like most farmers in Sub-Saharan Africa, this Cameroonian man cultivates at the subsistence level. ... Severe soil erosion in a wheat field near Washington State University, USA. Erosion is the displacement of solids (soil, mud, rock, and other particles) by the agents of wind, water, ice, movement in response to gravity, or living organisms (in the case of bioerosion). ... Pearl millet in the field Ripe head of proso millet The millets are a group of small-seeded species of cereal crops, widely grown around the world for food and fodder. ... Species About 20 species, including: Sorghum almum Sorghum bicolor Sorghum caffrorum Sorghum caudatum Sorghum cernuum Sorghum halepense Sorghum nervosum Sorghum nigricans Sorghum nitidum Sorghum propinquum Sorghum roxburghii Hybrids Sorghum × almum Sorghum × drummondii Sorghum is a genus of about 20 species of grasses, native to tropical and subtropical regions of Eastern... Binomial name Zea mays L. Maize (Zea mays ssp. ... Species Oryza glaberrima Oryza sativa Rice refers to two species (Oryza sativa and Oryza glaberrima) of grass, native to tropical and subtropical southeastern Asia and to Africa. ... Cotton plant as imagined and drawn by John Mandeville in the 14th century Cotton is a soft fiber that grows around the seeds of the Cotton plant (Gossypium spp. ... Binomial name Arachis hypogaea L. The peanut or groundnut (Arachis hypogaea) is a species in the pea family Fabaceae native to South America. ... Binomial name Sesamum indicum L. Thai workers harvesting sesame Sesame is a plant grown primarily for its oil-rich seeds. ...


Industry, still in an embryonic stage, is located primarily in Bobo-Dioulasso, Ouagadougou, Banfora, and Koudougou. Manufacturing is limited to food processing, textiles, and other import substitution heavily protected by tariffs. Some factories are privately owned, and others are set to be privatized. Burkina's exploitable natural resources are limited, although a manganese ore deposit is located in the remote northeast. Gold mining has increased greatly since the mid-1980s and, along with cotton, is a leading export moneyearner. Bobo-Dioulasso is a city of about 400,000, mainly Dioula, after Ouagadougou the second biggest in Burkina Faso. ... Typical street scene. ... Banfora is a city in south western Burkina Faso with a population of around 50,000 people. ... Koudougou is a town in the province of Boulkiemdé, 75km west of Ouagadougou, the capital of Burkina Faso. ... It has been suggested that Textile manufacturing be merged into this article or section. ... A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ... A factory (previously manufactory) or manufacturing plant is a large industrial building where workers manufacture goods. ... General Name, Symbol, Number manganese, Mn, 25 Chemical series transition metals Group, Period, Block 7, 4, d Appearance silvery metallic Atomic mass 54. ... Iron ore (Banded iron formation) Manganese ore Lead ore Gold ore An ore is a mineral deposit containing a metal or other valuable resource in economically viable concentrations. ... It has been suggested that Gold bar be merged into this article or section. ...


Summary: One of the poorest countries in the world, landlocked Burkina Faso has a high population density, few natural resources, and a fragile soil. Approximately 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 depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment. Soil is material capable of supporting plant life. ... Rain falling For other uses see Rain (disambiguation). ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated the International year of the Family. ... Macroeconomics is the economics sub-field of study that considers aggregate behavior, i. ...


External link

  • CIA Factbook
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  Results from FactBites:
 
Burkina Faso - Search View - MSN Encarta (3158 words)
Burkina Faso is bounded on the north and west by Mali, on the east by Niger, and on the south by Benin, Togo, Ghana, and Côte d’Ivoire.
The basis of the economy of Burkina Faso is agriculture, primarily for subsistence consumption.
Burkina Faso was accused of sheltering dissident members of the Côte d’Ivoire army, while at the same time the 2 million Burkinabe immigrants in Côte d’Ivoire were being blamed for a military uprising in that country.
  More results at FactBites »

 
 

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