Burkina Faso flag Burkina Faso: Visió econòmica i política

Xifres de comerç exterior de Burkina Faso

Foreign Trade in Figures

Burkina Faso is open to foreign trade which represents 59% of the country’s GDP (World bank, latest available data). As part of the West African Economic and Monetary Union (WAEMU), Burkina Faso has regulated its tariff structure. Goods produced in the Union are exempt from import tax. While customs duties (apart from oil) have been reduced from 200% to 66%, they continue to account for as much as 14.7% of total tax revenue (World Bank). However, internal and external crisis (in neighboring Mali), as well as the actions of radical groups in the Sahel, have had a negative impact on trade and the industrial outlook. The future railway linking Burkina Faso and Ghana is expected to strengthen trade between the two countries.

Gold is the greatest export (81.4% of its total exports). Burkina Faso is one of the largest exporters of cotton in West Africa, and its production of cotton has quadrupled in the past ten years. However, the commodity has seen its share in the exports decrease from 15.8% of total exports in 2016 to 6% in 2020 (Comtrade). The country’s main imports are petroleum oils (20.8%), drugs (4.8%), cement (4%), electrical energy (3.4%), vehicles (2.5%) and rice (2.4%). Burkina Faso mainly exports to Switzerland (76.3%), India (6.8%), Ivory Coast (2.9%), Singapore (2.7%) and Ghana (1.4%); while imports come chiefly from China (12.4%), Ivory Coast (8.2%), France (7.3%), the USA (7.1%) and Russia (6.9%).

Burkina Faso’s trade balance is structurally negative, but trade deficit has been decreasing gradually over the past years due to increased exports and lower imports. According to the Statistics Office (INSD), the trade balance has turned positive since the second quarter of 2020. During the first and second quarter of 2021, the cumulative trade surplus amounted to FCFA 304.2 billion (INSD). According to WTO data, in 2020 exports of goods rose to USD 4.47 billion, while imports of goods decreased to USD 4.12 billion. Services exports generated USD 413 million while services imports cost the country USD 1.57 billion (WTO).

 
Foreign Trade Values 20162017201820192020
Imports of Goods (million USD) 3,1713,8954,3014,2844,117
Exports of Goods (million USD) 2,4002,8753,2543,2394,372
Imports of Services (million USD) 1,2411,3541,4971,4551,572
Exports of Services (million USD) 425456507491413

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20152016201720182019
Foreign Trade (in % of GDP) 59.157.959.360.356.7
Trade Balance (million USD) -241-1-5290366
Trade Balance (Including Service) (million USD) -1,017-796-898-656-555
Imports of Goods and Services (Annual % Change) 11.27.310.116.510.1
Exports of Goods and Services (Annual % Change) 1.52.68.512.8-5.5
Imports of Goods and Services (in % of GDP) 33.032.032.832.231.4
Exports of Goods and Services (in % of GDP) 26.125.926.528.125.4

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20212022 (e)2023 (e)2024 (e)2025 (e)
Volume of exports of goods and services (Annual % change) 5.25.84.33.23.3
Volume of imports of goods and services (Annual % change) 16.59.75.74.95.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Burkina Faso is a member of WTO since 1995. The country is also a member of the West African Economic and Monetary Union (WAEMU), the Economic Community of West African States (ECOWAS) and the International Labour Organization (ILO).
 

Main Partner Countries

Main Customers
(% of Exports)
2021
Switzerland 72.7%
India 9.6%
Singapore 3.8%
Ivory Coast 3.6%
Mali 1.6%
See More Countries 8.7%
Main Suppliers
(% of Imports)
2021
China 13.9%
Ivory Coast 8.5%
France 7.8%
United States 6.9%
Ghana 5.9%
See More Countries 57.1%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

4.4 bn USD of products exported in 2020
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 81.4%
Cotton, neither carded nor combedCotton, neither carded nor combed 6.0%
Other oil seeds and oleaginous fruits, whether or...Other oil seeds and oleaginous fruits, whether or not broken (excl. edible nuts, olives, soya beans, ground-nuts, copra, linseed, rape or colza seeds and sunflower seeds) 2.5%
Zinc ores and concentratesZinc ores and concentrates 2.4%
Coconuts, Brazil nuts and cashew nuts, fresh or...Coconuts, Brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled 1.6%
See More Products 6.1%
4.2 bn USD of products imported in 2020
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 20.8%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.8%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured 4.0%
Electrical energyElectrical energy 3.4%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.5%
See More Products 64.5%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

Return to top

Vols fer algun comentari sobre aquest contingut? Escriu-nos.

 

© Export Entreprises SA, Tots els drets reservats.
Actualitzacions: October 2022

Return to top