Economy of Burundi
|Economy of Burundi|
File:Fisherman on Lake Tanganyika.jpg|
Fisherman on Lake Tanganyika
|Currency||Burundian franc (BIF)|
$3.152 billion (2010[update])|
Rank: 173rd (2008[update])
GDP per capita
GDP by sector
|agriculture (32.9%), industry (21.3%), services (45.8%) (2008[update])|
Population below poverty line
|4.08 million (2010[update])|
Labour force by occupation
|agriculture (89%), industry (5.3%, services (4.1%) (2002[update])|
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
|Exports||$88 million f.o.b. (2010[update])|
|coffee, tea, sugar, cotton, hides|
Main export partners
23x15px Germany 14.8% |
23x15px Pakistan 9.1%
23x15px China 8.7%
23x15px Austria 7.5%
23x15px Sweden 7.2%
23x15px Belgium 5.1%
23x15px France 4.7%
23x15px Rwanda 4.4%
23x15px United States 4.1% (2012 est.)
|Imports||$286 million f.o.b. (2010[update])|
|capital goods, petroleum products, foodstuffs|
Main import partners
23x15px Saudi Arabia 16.3% |
23x15px China 7.9%
23x15px Uganda 7.7%
23x15px Belgium 7.0%
Template:Country data Kenya 6.7%
23x15px Zambia 6.6%
Template:Country data India 5.5%
23x15px Singapore 5.1% (2012 est.)
Gross external debt
|$820 million (2010[update])|
|Revenues||$280.4 million 2009[update])|
|Expenses||$351.3 million (2008[update])|
|Economic aid||$90.7 million (2010[update])|
Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The mainstay of the Burundian economy is agriculture, accounting for 54% of GDP in 1997. Agriculture supports more than 70% of the labour force, the majority of whom are subsistence farmers. Although Burundi is potentially self-sufficient in food production, the ongoing civil war, 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.
Little industry exists except the processing of agricultural exports. Although potential wealth in petroleum, nickel, copper, and other natural resources is being explored, the uncertain security situation has prevented meaningful investor interest. Industrial development also is hampered by Burundi's distance from the sea and high transport costs. Lake Tanganyika remains an important trading point. The trade embargo, lifted in 1999, negatively impacted trade and industry. Since October 1993 the nation has suffered from massive ethnic-based violence which has resulted in the death of perhaps 250,000 people and the displacement of about 800,000 others. Foods, medicines, and electricity remain in short supply.
Burundi is heavily dependent on bilateral and multilateral aid, with external debt totalling $1.247 billion (1.247 G$) in 1997. A series of largely unsuccessful 5-year plans initiated in July 1986 in partnership with the World Bank and the International Monetary Fund attempted to reform the foreign exchange system, liberalize imports, reduce restrictions on international transactions, diversify exports, and reform the coffee industry.
To protest the 1996 coup by President Pierre Buyoya, neighbouring countries imposed an economic embargo on Burundi. Although the embargo was never officially ratified by the United Nations Security Council, most countries refrained from official trade with Burundi. Following the coup, the United States also suspended all but humanitarian aid to Burundi. The regional embargo was lifted on January 23, 1999, based on progress by the government in advancing national reconciliation through the Burundi peace process.
In an article titled "The Blood Cries Out," Foreign Policy (FP) reported that the Burundi population growth rate is 2.5 percent per year, more than double the average global pace, and the a Burundian woman has on average 6.3 children, nearly triple the international fertility rate. FP further reported that "The vast majority of Burundians rely on subsistence farming, but under the weight of a booming population and in the long-standing absence of coherent policies governing land ownership, many people barely have enough earth to sustain themselves." In 2014, the average size for a farm was about one acre. FP added that "The consequence is remarkable scarcity: In the 2013 Global Hunger Index, Burundi had the severest hunger and malnourishment rates of all 120 countries ranked."
- "Doing Business in Burundi 2012". World Bank. Retrieved 2011-11-18.
- "Export Partners of Burundi". CIA World Factbook. 2012. Retrieved 2013-07-29.
- "Import Partners of Burundi". CIA World Factbook. 2012. Retrieved 2013-07-28.
- Jillian Keenan, The Blood Cries Out. "In one of Africa’s most densely populated countries, brothers are killing brothers over the right to farm mere acres of earth. There’s just not enough land to go around in Burundi — and it could push the country into civil war." Foreign Policy (FP)
- 12px This article incorporates public domain material from websites or documents of the CIA World Factbook.
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