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2022
Economic Complexity
Trade -1.91Rank 131 of 133
2022
Economic Complexity
Research -0.61Rank 93 of 135
2022
Product
Exports | Imports $8.2B | $5.28B110 of 226 |  144 of 226
2022
Per Capita Product
Exports | Imports $362 | $233144 of 220 |  202 of 220

About

Overview In 2022, Burkina Faso was the number 119 economy in the world in terms of GDP (current US$), the number 110 in total exports, the number 144 in total imports, the number 174 economy in terms of GDP per capita (current US$) and the number 131 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Burkina Faso are Gold ($6.74B), Raw Cotton ($502M), Other Oily Seeds ($169M), Coconuts, Brazil Nuts, and Cashews ($168M), and Zinc Ore ($162M), exporting mostly to Switzerland ($6.08B), United Arab Emirates ($538M), Mali ($304M), Singapore ($173M), and Cote d'Ivoire ($171M).

Imports The top imports of Burkina Faso are Refined Petroleum ($1.19B), Electricity ($166M), Packaged Medicaments ($164M), Petroleum Gas ($126M), and Cement ($124M), importing mostly from Cote d'Ivoire ($845M), China ($620M), Russia ($391M), France ($384M), and Ghana ($285M).

Location Burkina Faso borders Benin, Cote d'Ivoire, Ghana, Mali, Niger, and Togo by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Burkina Faso.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Gold$6.74B
Top Destination (2022)Switzerland$6.08B

In 2022, Burkina Faso exported a total of $8.2B, making it the number 110 exporter in the world. During the last five reported years the exports of Burkina Faso have changed by $3.03B from $5.18B in 2017 to $8.2B in 2022.

The most recent exports are led by Gold ($6.74B), Raw Cotton ($502M), Other Oily Seeds ($169M), Coconuts, Brazil Nuts, and Cashews ($168M), and Zinc Ore ($162M). The most common destination for the exports of Burkina Faso are Switzerland ($6.08B), United Arab Emirates ($538M), Mali ($304M), Singapore ($173M), and Cote d'Ivoire ($171M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
United Arab Emirates$516M (+ 2.35k%)
Mali$225M (+ 287%)
Canada$54.4M (+ 2.39k%)
Fastest Growing Import Markets (2021 - 2022)
Russia$323M (+ 478%)
Cote d'Ivoire$245M (+ 40.9%)
Togo$90.9M (+ 57.5%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-1.91Rank 131 of 133
Economic Complexity (Research)-0.61Rank 93 of 135

Most Specialized Products by RCA Index

Burkina Faso has a high level of specialization in Other Oily Seeds (75.8), Raw Cotton (64), Coconuts, Brazil Nuts, and Cashews (46.7), Gold (40.8), and Zinc Ore (33). Specialization is measured using RCA, an index that takes the ratio between Burkina Faso observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Burkina Faso according to the product complexity index (PCI) are Nitrites; nitrates (-0.29), Dolomite, whether or not calcined or sintered; including dolomite roughly trimmed, or... (-0.71), Moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for... (-0.77), Cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substitutes (-0.95), and Prepared explosives, other than propellent powders (-1.08). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Burkina Faso according to the relatedness index, were Cocoa Shells (0.052), Crude Petroleum (0.047), Other Ores (0.047), Cocoa Beans (0.046), and Insect Resins (0.046). 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.

Product Space

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Burkina Faso. These are products that tend to be co-exported with the products that Burkina Faso exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Burkina Faso's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 131st⁩ 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.

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ECI (Trade) Ranking by Country

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