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Burundi Economy Profile 2013

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Economy - overviewBurundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural; agriculture accounts for just over 30% 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 earnings - and its ability to pay for imports - rests primarily on weather conditions and international coffee and tea prices. 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. Less than 2% of the population has electricity in its homes. Burundi's GDP grew around 4% annually in 2006-12. 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, a poor transportation network, overburdened utilities, and low administrative capacity - risk undermining planned economic reforms. The purchasing power of most Burundians has decreased as wage increases have not kept up with inflation. Burundi will remain heavily dependent on aid from bilateral and multilateral donors - foreign aid represents 42% of Burundi''s national income, the second highest rate in Sub-Saharan Africa. Burundi joined the East African Community in 2009, which should boost Burundi's regional trade ties, and also in 2009 received $700 million in debt relief. Government corruption is hindering the development of a healthy private sector as companies seek to navigate an environment with ever changing rules.
GDP (purchasing power parity)$5.578 billion (2012 est.)
$5.363 billion (2011 est.)
$5.148 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate)$2.475 billion (2012 est.)
GDP - real growth rate4% (2012 est.)
4.2% (2011 est.)
3.8% (2010 est.)
GDP - per capita (PPP)$600 (2012 est.)
$600 (2011 est.)
$600 (2010 est.)
note: data are in 2012 US dollars
Gross national saving1.7% of GDP (2012 est.)
1.7% of GDP (2011 est.)
0.3% of GDP (2010 est.)
GDP - composition, by end usehousehold consumption: 91.8%
government consumption: 12.1%
investment in fixed capital: 21.8%
investment in inventories: -4.5%
exports of goods and services: 8%
imports of goods and services: -29.1%
(2012 est.)
GDP - composition by sectoragriculture: 35.2%
industry: 18.6%
services: 46.2% (2012 est.)
Population below poverty line68% (2002 est.)
Labor force4.245 million (2007)
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)
Investment (gross fixed)21.8% of GDP (2012 est.)
Budgetrevenues: $767.6 million
expenditures: $865.8 million (2012 est.)
Taxes and other revenues31% of GDP (2012 est.)
Budget surplus (+) or deficit (-)-4% of GDP (2012 est.)
Public debt50.8% of GDP (2012 est.)
55.7% of GDP (2011 est.)
Inflation rate (consumer prices)18% (2012 est.)
9.7% (2011 est.)
Central bank discount rate11.25% (31 December 2010 est.)
10% (31 December 2009 est.)
Commercial bank prime lending rate14.32% (31 December 2012 est.)
13.23% (31 December 2011 est.)
Stock of narrow money$332.2 million (31 December 2012 est.)
$335.7 million (31 December 2011 est.)
Stock of broad money$519 million (31 December 2012 est.)
$465.4 million (31 December 2011 est.)
Stock of domestic credit$572.2 million (31 December 2012 est.)
$576.3 million (31 December 2011 est.)
Market value of publicly traded shares$NA
Agriculture - productscoffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, cassava (manioc); beef, milk, hides
Industrieslight consumer goods such as blankets, shoes, soap, and beer; assembly of imported components; public works construction; food processing
Industrial production growth rate4% (2012 est.)
Current Account Balance-$337.4 million (2012 est.)
-$253.4 million (2011 est.)
Exports$127.1 million (2012 est.)
$124 million (2011 est.)
Exports - commoditiescoffee, tea, sugar, cotton, hides
Exports - partnersGermany 14.8%, Pakistan 9.1%, China 8.7%, Austria 7.5%, Sweden 7.2%, Belgium 5.1%, France 4.7%, Rwanda 4.4%, US 4.1% (2012)
Imports$810 million (2012 est.)
$771.7 million (2011 est.)
Imports - commoditiescapital goods, petroleum products, foodstuffs
Imports - partnersSaudi Arabia 16.3%, China 7.9%, Uganda 7.7%, Belgium 7%, Kenya 6.7%, Zambia 6.6%, India 5.5%, Singapore 5.1% (2012)
Reserves of foreign exchange and gold$308.8 million (31 December 2012 est.)
$295.5 million (31 December 2011 est.)
Debt - external$639.7 million (31 December 2012 est.)
$627.7 million (31 December 2011 est.)
Exchange ratesBurundi francs (BIF) per US dollar -
1,442.51 (2012 est.)
1,261.07 (2011 est.)
1,230.8 (2010 est.)
1,230.18 (2009)
1,198 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013