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2023
Economic Complexity
Trade -1.36Rank 124 of 132
2022
Economic Complexity
Research -0.54Rank 88 of 140
2023
Product
Exports | Imports $8.35B | $6.15B111 of 226 |  139 of 226
2023
Per Capita Product
Exports | Imports $363 | $267145 of 220 |  199 of 220

About

Overview In 2023, Burkina Faso was the number 121 economy in the world in terms of GDP (current US$), the number 111 in total exports, the number 139 in total imports, the number 182 economy in terms of GDP per capita (current US$) and the number 124 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Burkina Faso are Gold ($7.18B), Raw Cotton ($262M), Other Oily Seeds ($184M), Coconuts, Brazil Nuts, and Cashews ($154M), and Cement ($105M), exporting mostly to Switzerland ($6B), United Arab Emirates ($815M), India ($271M), Mali ($268M), and Cote d'Ivoire ($136M).

Imports The top imports of Burkina Faso are Refined Petroleum ($1.64B), Cement ($205M), Electricity ($199M), Packaged Medicaments ($165M), and Rice ($124M), importing mostly from Cote d'Ivoire ($847M), China ($821M), Ghana ($574M), Russia ($524M), and France ($404M).

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 (2023)Gold$7.18B
Top Destination (2023)Switzerland$6B

In 2023, Burkina Faso exported a total of $8.35B, making it the number 111 exporter in the world. During the last five reported years the exports of Burkina Faso have changed by $2.69B from $5.66B in 2018 to $8.35B in 2023.

The most recent exports are led by Gold ($7.18B), Raw Cotton ($262M), Other Oily Seeds ($184M), Coconuts, Brazil Nuts, and Cashews ($154M), and Cement ($105M). The most common destination for the exports of Burkina Faso are Switzerland ($6B), United Arab Emirates ($815M), India ($271M), Mali ($268M), and Cote d'Ivoire ($136M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
United Arab Emirates$193M (+ 31.1%)
Uganda$109M (+ 99.5M%)
India$95.8M (+ 54.7%)
Fastest Growing Import Markets (2022 - 2023)
Ghana$144M (+ 33.6%)
Cote d'Ivoire$99.5M (+ 13.3%)
Russia$85.4M (+ 19.5%)

Total Export Growth by Market (2022 - 2023)

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)-1.36Rank 124 of 132
Economic Complexity (Research)-0.54Rank 88 of 140

Most Specialized Products by RCA Index

Burkina Faso has a high level of specialization in Other Oily Seeds (67), Coconuts, Brazil Nuts, and Cashews (47.5), Raw Cotton (44.3), Gold (33.8), and Cement (18.3). 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 Machine-tools; (including way-type unit head machines) for drilling, boring, milling, threading or... (1.05), Densified wood, in blocks, plates, strips or profile shapes (-0.33), Dolomite, whether or not calcined or sintered; including dolomite roughly trimmed, or... (-0.66), Slag, dross; (other than granulated slag), scalings and other waste from the... (-0.7), and Safety fuses; detonating fuses; percussion or detonating caps; igniters; electric detonators (-0.73). 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 Beans (0.061), Crude Petroleum (0.06), Insect Resins (0.059), Tin Ores (0.057), and Cocoa Shells (0.057). 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 (2023)

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 124th⁩ 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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