Burkina Faso2019 Economic Complexity : -1.44, Rank 139 of 146
2019 Product Exports | Imports: $5.99B | $3.92B, 110 of 225 | 146 of 225
2019 Per Capita Product Exports | Imports: $295 | $193, 174 of 219 | 203 of 219
2018 Service Exports | Imports : $555M | $1.42B, 107 of 125 | 97 of 125
Overview In 2019 Burkina Faso was the number 120 economy in the world in terms of GDP (current US$), the number 110 in total exports, the number 146 in total imports, the number 171 economy in terms of GDP per capita (current US$) and the number 139 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Burkina Faso are Gold ($4.64B), Raw Cotton ($394M), Zinc Ore ($173M), Raw Zinc ($155M), and Other Oily Seeds ($133M), exporting mostly to Switzerland ($3.51B), India ($1.24B), Singapore ($189M), Cote d'Ivoire ($177M), and Ghana ($149M).
Imports The top imports of Burkina Faso are Refined Petroleum ($492M), Delivery Trucks ($118M), Packaged Medicaments ($113M), Electricity ($110M), and Planes, Helicopters, and/or Spacecraft ($92.9M), importing mostly from Cote d'Ivoire ($586M), China ($366M), Ghana ($327M), France ($305M), and India ($219M).
Location Burkina Faso borders Benin, Cote d'Ivoire, Ghana, Mali, Niger, and Togo by land.
Top Export (2019): Gold, $4.64B
Top Destination (2019): Switzerland, $3.51B
In 2019, Burkina Faso exported a total of $5.99B, making it the number 110 exporter in the world. During the last five reported years the exports of Burkina Faso have changed by $2.39B from $3.6B in 2014 to $5.99B in 2019.
The most recent exports are led by Gold ($4.64B), Raw Cotton ($394M), Zinc Ore ($173M), Raw Zinc ($155M), and Other Oily Seeds ($133M). The most common destination for the exports of Burkina Faso are Switzerland ($3.51B), India ($1.24B), Singapore ($189M), Cote d'Ivoire ($177M), and Ghana ($149M).
Top Import (2019): Refined Petroleum, $492M
Top Origin (2019): Cote d'Ivoire, $586M
In 2019 Burkina Faso imported $3.92B, making it the number 146 trade destination in the world. During the last five reported years the imports of Burkina Faso changed by $425M from $3.5B in 2014 to $3.92B in 2019.
The most recent imports of Burkina Faso are led by Refined Petroleum ($492M), Delivery Trucks ($118M), Packaged Medicaments ($113M), Electricity ($110M), and Planes, Helicopters, and/or Spacecraft ($92.9M). The most common import partners for Burkina Faso are Cote d'Ivoire ($586M), China ($366M), Ghana ($327M), France ($305M), and India ($219M).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Burkina Faso Exports Services (2018): $555M
Burkina Faso Imports Services (2018): $1.42B
In 2018, Burkina Faso exported $555M worth of services. The top services exported by Burkina Faso in 2018 were Construction services ($114M), Financial services ($90.5M), Transportation ($79.9M), Personal travel ($73.3M), and Computer and information services ($58.7M).
The top services imported by Burkina Faso in 2018 were Transportation ($704M), Other business services ($143M), Insurance services ($140M), Financial services ($111M), and Computer and information services ($100M).
Burkina Faso has a high level of specialization in Raw Cotton (77.5), Other Oily Seeds (71.3), Zinc Ore (46.9), Gold (41.2), and Coconuts, Brazil Nuts, and Cashews (39.3). Specialization is measured using RCA, an index that takes the ratio between Burkina Faso observed and expected exports in each product.
The highest complexity exports of Burkina Faso according to the product complexity index (PCI) are Sulphites, thiosulphates (-0.34), Soups, broths and homogenized food preparations (-0.48), Earth or snow moving, boring or pile driving machines (-0.59), Dolomite (-0.6), and Unwrought zinc (-0.8). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Burkina Faso according to the relatedness index, are Crude Petroleum (0.054), Tin Ores (0.053), Ground Nuts (0.051), Dried Legumes (0.05), and Insect Resins (0.05). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Burkina Faso is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
During the last 9 years Burkina Faso's economy has become relatively less complex, moving from the 125th to the 139th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.