Burkina Faso, a small, landlocked economy in the French-speaking West African Sahel, had a GDP of $23 billion in 2024, growing 4.9 percent that year and averaging 3.6 percent growth since 2020, driven by gold and agriculture. Despite a 40 percent poverty rate, GDP is projected to grow 5 percent by 2027, assuming improved security. The informal sector employs over one million people.
Gold dominates Burkina Faso’s economy, accounting for over 80 percent of exports. Industrial gold production declined for the third consecutive year in 2024, reaching 53.3 tons (down from 57.3 tons in 2023) due to security challenges, though high gold prices offset losses. In 2024, the Transition Authorities amended the Mining Code, increasing the State’s free-carry stake to at least 15 percent in mining projects and revising taxes and royalties based on gold prices.
Cotton is the main agricultural export, with 2024/2025 production estimated at 292,600 tons, making Burkina Faso the fourth-largest producer in the region. Most cotton is exported raw, with less than 5 percent processed domestically. Other key agricultural exports include sesame and cashew nuts.
Infrastructure bottlenecks in energy, transportation, logistics, and professional skills hinder competitiveness and investment. However, Burkina Faso’s youthful population, urbanization, and regional integration with the West African Economic and Monetary Union offer market potential.
In 2023, U.S.-Burkina Faso goods trade totaled $298.3 million, with U.S. exports at $266.3 million and imports at $32 million, resulting in a $254 million trade surplus. Top U.S. exports include LNG, machinery, vehicles, pharmaceuticals, and fertilizers, while imports primarily consist of agricultural products like cotton.
Political Environment
Political & Economic Environment: State Department’s website for background on the country’s political environment.