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Burundi Economy Profile 2016

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Economy - overviewBurundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. Agriculture accounts for over 40% 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. Thus, Burundi's export earnings - and its ability to pay for imports - rest primarily on weather conditions and international coffee and tea prices, although exports are a relatively small share of GDP. Burundi is heavily dependent on aid from bilateral and multilateral donors. Foreign aid in 2014 represented 42% of Burundi's national income, the second highest rate in Sub-Saharan Africa. Burundi joined the East African Community (EAC) in 2009.

An ethnic war that ended in 2005 resulted in more than 200,000 deaths, forced more than 48,000 refugees into Tanzania, and displaced 140,000 others internally. Political stability, aid flows, and economic activity improved following the end of the civil war, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, a poor transportation network, overburdened utilities, and low administrative capacity – have prevented the government from implementing planned economic reforms. Government corruption has also hindered the development of a private sector as companies have to deal with ever changing rules. The purchasing power of most Burundians has decreased as wage increases have not kept pace with inflation.

In 2015, Burundi’s economy suffered from political turmoil over President NKURUNZIZA’s controversial third term. Blocked transportation routes disrupted the flow of agricultural goods. And donors withdrew aid, increasing Burundi’s budget deficit. When the unrest ends, regional infrastructure improvements driven by the EAC and funded by the World Bank may help improve Burundi’s transport connections and lower transportation costs.
GDP (purchasing power parity)$7.711 billion (2015 est.)
$8.041 billion (2014 est.)
$7.683 billion (2013 est.)
note: data are in 2015 US dollars
GDP (official exchange rate)$2.881 billion (2015 est.)
GDP - real growth rate-4.1% (2015 est.)
4.7% (2014 est.)
4.5% (2013 est.)
GDP - per capita (PPP)$800 (2015 est.)
$900 (2014 est.)
$900 (2013 est.)
note: data are in 2015 US dollars
Gross national saving-4.4% of GDP (2015 est.)
-2.9% of GDP (2014 est.)
-4.2% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 71.9%
government consumption: 21.4%
investment in fixed capital: 27.2%
investment in inventories: -2.7%
exports of goods and services: 5.5%
imports of goods and services: -23.3% (2015 est.)
GDP - composition by sectoragriculture: 39.2%
industry: 18.1%
services: 42.7% (2015 est.)
Population below poverty line68% (2002 est.)
Labor force4.95 million (2015 est.)
Labor force - by occupationagriculture: 93.6%
industry: 2.3%
services: 4.1% (2002 est.)
Unemployment rateNA%
Household income or consumption by percentage sharelowest 10%: 4.1%
highest 10%: 28% (2006)
Distribution of family income - Gini index42.4 (1998)
Budgetrevenues: $852 million
expenditures: $1.003 billion (2015 est.)
Taxes and other revenues28.7% of GDP (2015 est.)
Budget surplus (+) or deficit (-)-5.1% of GDP (2015 est.)
Public debt37.2% of GDP (2015 est.)
36.5% of GDP (2014 est.)
Inflation rate (consumer prices)5.6% (2015 est.)
4.4% (2014 est.)
Central bank discount rate11.25% (31 December 2010)
10% (31 December 2009)
Commercial bank prime lending rate16% (31 December 2015 est.)
15.7% (31 December 2014 est.)
Stock of narrow money$437.7 million (31 December 2015 est.)
$412.4 million (31 December 2014 est.)
Stock of broad money$594.6 million (31 December 2015 est.)
$568.6 million (31 December 2014 est.)
Stock of domestic credit$767.5 million (31 December 2015 est.)
$721.9 million (31 December 2014 est.)
Market value of publicly traded shares$NA
Agriculture - productscoffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, cassava (manioc, tapioca); beef, milk, hides
Industrieslight consumer goods (blankets, shoes, soap, beer); assembly of imported components; public works construction; food processing
Industrial production growth rate5.2% (2015 est.)
Current Account Balance-$444 million (2015 est.)
-$544 million (2014 est.)
Exports$96.6 million (2015 est.)
$122.4 million (2014 est.)
Exports - commoditiescoffee, tea, sugar, cotton, hides
Exports - partnersGermany 12.3%, Pakistan 10.7%, Democratic Republic of the Congo 10.7%, Uganda 8.1%, Sweden 7.8%, US 7.1%, Belgium 6.3%, Rwanda 4.6%, France 4.4% (2015)
Imports$815.1 million (2015 est.)
$923 million (2014 est.)
Imports - commoditiescapital goods, petroleum products, foodstuffs
Imports - partnersKenya 15%, Saudi Arabia 14%, Belgium 9.9%, Tanzania 8.3%, Uganda 7.3%, China 7.1%, India 4.9%, France 4% (2015)
Reserves of foreign exchange and gold$315.7 million (31 December 2015 est.)
$317.1 million (31 December 2014 est.)
Debt - external$700.8 million (31 December 2014 est.)
$682.7 million (31 December 2013 est.)
Exchange ratesBurundi francs (BIF) per US dollar -
1,578.2 (2015 est.)
1,546.7 (2014 est.)
1,546.7 (2013 est.)
1,442.51 (2012 est.)
1,261.07 (2011 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on October 8, 2016

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