Economy - overview:
Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural which accounts for 35% of GDP and employs more than 90% of the population. Burundi's primary exports are coffee and tea, which account for 90% of foreign exchange earnings, though exports are a relatively small share of GDP. Burundi's export earning - and its ability to pay for imports - rests primarily on weather conditions and international coffee and tea prices. The Tutsi minority, 14% of the population, dominates the coffee trade. An ethnic-based war that lasted for over a decade resulted in more than 200,000 deaths, forced more than 48,000 refugees into Tanzania, and displaced 140,000 others internally. Only one in two children go to school, and approximately one in 15 adults has HIV/AIDS. Food, medicine, and electricity remain in short supply. Burundi's GDP grew around 4% annually in 2006-09. Political stability and the end of the civil war have improved aid flows and economic activity has increased, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, and low administrative capacity - risk undermining planned economic reforms. Burundi will continue to remain heavily dependent on aid from bilateral and multilateral donors; the delay of funds after a corruption scandal cut off bilateral aid in 2007 reduced government's revenues and its ability to pay salaries. Burundi joined the East African Community, which should boost Burundi's regional trade ties. Burundi's main challenge to economic growth will be maintaining sufficient fiscal discipline and peace during the upcoming national elections scheduled for 2010.
GDP (purchasing power parity):
$3.266 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$1.41 billion (2009 est.)
GDP - real growth rate:
3.8% (2009 est.)
GDP - per capita (PPP):
$300 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 33.3%
industry:
21%
services:
45.8% (2009 est.)
Labor force:
4.245 million (2007)
Labor force - by occupation:
agriculture: 93.6%
industry:
2.3%
services:
4.1% (2002 est.)
Unemployment rate:
NA% est.)
Population below poverty line:
68% (2002 est.)
Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%:
28% (2006)
Distribution of family income - Gini index:
42.4 (1998)
Investment (gross fixed):
11.3% of GDP (2009 est.)
Budget:
revenues: $342.2 million
expenditures:
$385.7 million; including capital expenditures of $NA (2009 est.)
Inflation rate (consumer prices):
14.1% (2009 est.)
Central bank discount rate:
10.08% (31 December 2008)
Commercial bank prime lending rate:
16.52% (31 December 2008)
Stock of money:
$261.6 million (31 December 2008)
Stock of quasi money:
$189.9 million (31 December 2008)
Stock of domestic credit:
$370 million (31 December 2008)
Market value of publicly traded shares:
$NA
Agriculture - products:
coffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, hides
Industries:
light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing
Industrial production growth rate:
3.5% (2009 est.)
Electricity - production:
92 million kWh (2007 est.)
Electricity - consumption:
125.6 million kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
40 million kWh; note - supplied by the Democratic Republic of the Congo (2007 est.)
Oil - production:
0 bbl/day (2008 est.)
Oil - consumption:
3,000 bbl/day (2008 est.)
Oil - exports:
0 bbl/day (2007 est.)
Oil - imports:
2,495 bbl/day (2007 est.)
Oil - proved reserves:
0 bbl (1 January 2009 est.)
Natural gas - production:
0 cu m (2008 est.)
Natural gas - consumption:
0 cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
0 cu m (2008 est.)
Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
Current account balance:
$-144 million (2009 est.)
Exports:
$79 million (2009 est.)
Exports - commodities:
coffee, tea, sugar, cotton, hides
Exports - partners:
Switzerland 27.9%, UK 11%, Pakistan 9.5%, Belgium 5.1%, Rwanda 5%, Egypt 4.7% (2008)
Imports:
$318 million (2009 est.)
Imports - commodities:
capital goods, petroleum products, foodstuffs
Imports - partners:
Saudi Arabia 20.7%, Belgium 12.6%, Uganda 8.4%, Kenya 7.4%, China 5.9%, France 5.4%, Germany 4.9%, India 4.1%, Tanzania 4.1%, Japan 4% (2008)
Reserves of foreign exchange and gold:
$212 million (31 December 2009 est.)
Debt - external:
$1.2 billion (2003 est.)
Exchange rates:
Burundi francs (BIF) per US dollar - 1,227.75 (2009), 1,198 (2008), 1,065 (2007), 1,030 (2006), 1,138 (2005)
NOTE: The information regarding Burundi on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burundi Economy 2010 information contained here. All suggestions for corrections of any errors about Burundi Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10