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GDP
2018: $734 per person
Currency: Franck CFA
Main article: Frank CFA (CFA)
Inflation
2022: Inflation in November - 16.5%
Minerals
2024: Which companies lead the way in mining
The extractive industry in Burkina Faso in 2024 is the most developed of all. It includes the extraction of gold, manganese, zinc, tin, bauxite, iron ore, copper and lead. Gold is the main mineral resource of the country, its share in exports is about a third. The main gold mining companies in Burkina Faso are SEMSSA, Endeavor Mining and Nexus Gold Corp.
Manganese mining, which is carried out by Pan African Minerals, also plays a significant role in the country's economy. The extractive industry accounts for more than 20% of Burkina Faso's GDP and is of great importance to the country's economy.
2022:1 million people involved in small-scale mining
2016: Islamists restart gold exports
In 2016, al-Qaeda and Islamic State-linked movements seized hundreds of semi-abandoned and artisanal gold mines in Niger, Burkina Faso and Mali, becoming security guarantors and resellers for millions of illegal prospectors. They declared the collection of zakat from prospectors a "halal" practice and - to the great delight of local residents - abandoned the increasingly less profitable abductions for ransom.
Precious metal mined at the mines they control is sent to Togo, and from there it is transported to the UAE, Saudi Arabia, Turkey, Switzerland and India. As the Zangaro Today telegram channel wrote, in just one year, jihadists became the main employers for residents of remote and depressed desert districts, got rich by $2 billion and found an inexhaustible source of recruits in mines and in the surrounding settlements, welcoming bans on alcohol and prostitution and distribution of alms among those in need.
2012: Fourth place in Africa in gold production
In 2012, Burkina Faso was the fourth largest producer of gold in Africa.
Power
2020: Very low energy consumption per capita
and
2019: Electrification rate just 22%
Industry
The industry in Burkina Faso, in 2024, is mainly focused on the production of food and drinks, textiles and clothing, as well as wood and leather products. It accounts for about 10% of the country's GDP. Among the largest enterprises in this industry can be called the company "Faso Cotton," which is engaged in the production of cotton yarn, as well as "Brakina," which produces various drinks.
Heavy industry in Burkina Faso is in its early stages of development. The country has several cement plants and gold processing plants that operate in deposits of this metal, but the overall contribution of this industry to the economy of Burkina Faso is insignificant.
Foreign trade
2023:38% of wheat supplies come from Russia and Ukraine
Transport
The length of railways in Burkina Faso for 2024 is 386 km. Ouagadougou Airport. Access to the ocean by rail via Kot-d.
In Burkina Faso at this time, the main mode of transport is buses, taxis and motor taxis. Bus service is well developed domestically and has a fairly high frequency of flights. Intercity bus routes connect major cities and localities. Buses are usually cheap, but not always comfortable, as road repairs in the country are not always carried out regularly.
Taxis are one of the most common modes of transport in Burkina Faso, especially in the capital Ouagadougou. Taxi prices can vary depending on the route and time of day, they can be discussed before traveling or agreed on the spot. At the same time, it is not always possible to get to remote areas of the country by taxi, and in this case it is better to use other modes of transport.
Mototaxi is another common mode of transport in Burkina Faso, especially in provincial towns and villages. They are faster and more agile, but not always safe and comfortable. They are offered as a short-distance means of transportation, and can also be used to transport passengers to the city center or to a public transport station.
It is possible to rent a car from local rental companies, but they are not as common as in other countries in Africa. Motorcycles are also popular with citizens and villagers.
R&D
2020: R&D costs - $40M
IT market
2022: More than 1 start-up
Agriculture
2023: Majority of population engaged in agriculture
The majority of Burkina Faso residents are engaged in agriculture and livestock breeding as of 2024, but recently more and more young people have been leaving for cities to get higher education and work in industry, construction and trade.
2019: Low use of pesticides in agriculture
Consumption
2023: Pork is the most consumed type of meat
2019: Average rice consumption: 34.5 kg per person per year
2018: Vegetable consumption - 16 kg per capita per year
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