Economy of Burundi

Economy of Burundi

Bujumbura, Burundi's largest city.
Currency	Burundian franc (BIF, FBu)
Fiscal year	Calendar year
Trade organisations	AU, AfCFTA (signed), WTO
Country group	Least Developed[1] Low-income economy[2]
Statistics
GDP	$3.23 billion (nominal, 2023 est.)[3] $11.567 billion (PPP, 2023 est.)[3]
GDP growth	0.3% (2020) 3.1% (2021) 1.8% (2022) 3.3% (2023e)[3]
GDP per capita	$249 (nominal, 2023 est.)[4] $891 (PPP, 2023 est.)[4]
GDP by sector	agriculture (32.9%), industry (21.3%), services (45.8%) (2008[update])
Inflation (CPI)	1.238% (2018 est.)[4]
Population below poverty line	53% (2010[update])
Human Development Index	0.426 low (2021)[5] (187th) 0.296 IHDI (2018)[6]
Labour force	4.08 million (2010[update])
Labour force by occupation	agriculture (89%), industry (5.3%, services (4.1%) (2002[update])
Unemployment	1% (2023)
Main industries	light consumer goods such as blankets, shoes, soap, assembly of imported components, public works construction, food processing Agriculture: coffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, hides
External
Exports	$208 million (2022[update])
Export goods	coffee, tea, sugar, cotton, hides
Main export partners	Germany 15.2%  Pakistan 9.3%  Kenya 8.5%  China 7.8%  Sweden 7.3%  Belgium 5.3%  Canada 4.6%  Rwanda 4.5%  United States 4.2% (2018 est.)[7]
Imports	$1.260 billion (2022[update])
Import goods	capital goods, petroleum products, foodstuffs
Main import partners	Saudi Arabia 17.3%  China 8.1%  Uganda 7.8%  Belgium 7.2%  Kenya 6.9%  Zambia 6.7%  India 5.6%  United Arab Emirates 5.3% (2018 est.)[8]
Gross external debt	$820 million (2010[update])
Public finances
Revenues	$350.4 million (2018[update])
Expenses	$351.3 million (2017[update])
Economic aid	$90.7 million (2010[update])
Foreign reserves	$412.2 million
All values, unless otherwise stated, are in US dollars.

The economy of Burundi is $3.436 billion by gross domestic product as of 2018, being heavily dependent on agriculture, which accounts for 32.9% of gross domestic product as of 2008. Burundi itself is a landlocked country lacking resources, and with almost nonexistent industrialization. Agriculture supports more than 70% of the labor force, the majority of whom are subsistence farmers.

Although Burundi is potentially self-sufficient in food production, civil unrest, overpopulation, and soil erosion have contributed to the contraction of the subsistence economy by 25% in recent years. Large numbers of internally displaced persons have been unable to produce their own food and are largely dependent on international humanitarian assistance. Burundi is a net food importer, with food accounting for 17% of imports in 1997. Burundi is a least developed country according to the United Nations.