As per International Monetary Fund (IMF) Burkina Faso’s nominal gross domestic product is expected to grow at a CAGR of 8.32% from it’s 2015 level of CFA 6564.63 billion and reach CFA 11485.40 billion by 2022.
Burkina Faso is a low-income, landlocked Sub-Saharan country with limited natural resources. Its population, which is growing at an average annual rate of 3.1 percent, was estimated at almost 18.6 million inhabitants in 2016. The economy is heavily reliant on agriculture, with close to 80 percent of the active population employed in the sector. Cotton is the country’s most important cash crop, while gold exports have gained importance in recent years.
Burkina Faso had estimated population of 18.42 million in the year 2016 and expected to reach 21.666 million by 2022, growing at a CAGR of 2.75%.
Burkina Faso’s real gross domestic product (GDP) was around CFA 4607.22 billions in 2016 whereas the nominal GDP was CFA 7050.59 billions. This resulted in GDP deflator 153.034. Per capita GDP was estimated at USD 645.789 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 1782.15.
In 2016, Burkina Faso government’s revenue was CFA 1551.69 billions whereas the expenditure was CFA 1730.56 billions. This resulted Burkina Faso government’s net lending / borrowing negative at CFA 178.87 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Burkina Faso was estimated to be negative at USD 0.918 billions for the year 2016 and is expected to decline at a CAGR of 4.30% and reach USD 1.198 by 2022. This negative current account balance indicates the Burkina Faso is a net borrower from the whole world.
Scope of the Burkina Faso PESTEL Analysis, SWOT Analysis and Risk Analysis Market Research Reports
- These reports provide information about key macroeconomic indicators for Burkina Faso.
- These reports provide PESTELE (political, economic, social, technological, environmental and legal) analysis for Burkina Faso.
- These reports provide SWOT (strengths, weaknesses, opportunities and threats) analysis for Burkina Faso.
- These reports provide risk analysis for Burkina Faso.
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