Overview In 2020, Burkina Faso was the number 116 economy in the world in terms of GDP (current US$), the number 94 in total exports, the number 142 in total imports, the number 178 economy in terms of GDP per capita (current US$) and the number 126 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Burkina Faso are Gold ($7.19B), Raw Cotton ($254M), Zinc Ore ($198M), Other Oily Seeds ($147M), and Coconuts, Brazil Nuts, and Cashews ($84.2M), exporting mostly to Switzerland ($6.52B), India ($630M), Uganda ($131M), Cote d'Ivoire ($126M), and Singapore ($121M).

Imports The top imports of Burkina Faso are Refined Petroleum ($444M), Packaged Medicaments ($142M), Electricity ($142M), Cement ($113M), and Delivery Trucks ($86.1M), importing mostly from China ($441M), France ($369M), Cote d'Ivoire ($330M), Ghana ($254M), and India ($217M).

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

Flow
View
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.

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

Flow
Value
Depth

Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

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

Historical Data

#permalink to section
Flow
Value
Depth

Top Export (2020): Gold, $7.19B

Top Destination (2020): Switzerland, $441M

In 2020, Burkina Faso exported a total of $8.15B, making it the number 94 exporter in the world. During the last five reported years the exports of Burkina Faso have changed by $4.51B from $3.64B in 2015 to $8.15B in 2020.

The most recent exports are led by Gold ($7.19B), Raw Cotton ($254M), Zinc Ore ($198M), Other Oily Seeds ($147M), and Coconuts, Brazil Nuts, and Cashews ($84.2M). The most common destination for the exports of Burkina Faso are Switzerland ($6.52B), India ($630M), Uganda ($131M), Cote d'Ivoire ($126M), and Singapore ($121M).

Explore Visualizations

Flow
View

Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Burkina Faso has a high level of specialization in Other Oily Seeds (53.2), Zinc Ore (51.4), Raw Cotton (36.6), Gold (35), and Coconuts, Brazil Nuts, and Cashews (20.1). Specialization is measured using RCA, an index that takes the ratio between Burkina Faso observed and expected exports in each product.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Burkina Faso according to the relatedness index, are Manganese Ore (0.046), Cocoa Beans (0.038), Other Ores (0.034), Insect Resins (0.034), and Dried Legumes (0.034). 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 a country currently specializes in.

Relatedness Space

#permalink to section

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.

Diversification Frontier

#permalink to section
Filter
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.

Economic Complexity Ranking

#permalink to section
Scale

During the last 9 years Burkina Faso's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨118th to the 126th⁩ 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.

Explore Rankings