Burundi



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Burundi Economy 2008


Economy - overview: Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural with more than 90% of the population dependent on subsistence agriculture. Economic growth depends on coffee and tea exports, which account for 90% of foreign exchange earnings. The ability to pay for imports, therefore, rests primarily on weather conditions and international coffee and tea prices. The Tutsi minority, 14% of the population, dominates the government and the coffee trade at the expense of the Hutu majority, 85% of the population. 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. Burundi's GDP grew around 5% annually in 2006-07. 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, and low administrative capacity - risk undermining planned economic reforms. Burundi will continue to remain heavily dependent on aid from bilateral and multilateral donors; the delay of funds after a corruption scandal cut off bilateral aid in 2007 reduced government's revenues and its ability to pay salaries.
GDP (purchasing power parity): $2.907 billion (2007 est.)
GDP (official exchange rate): $1.001 billion (2007 est.)
GDP - real growth rate: 3.6% (2007 est.)
GDP - per capita (PPP): $300 (2007 est.)
GDP - composition by sector: agriculture: 33.7% industry: 20.9% services: 45.4% (2007 est.)
Labor force: 2.99 million (2002)
Labor force - by occupation: agriculture: 93.6% industry: 2.3% services: 4.1% (2002 est.)
Unemployment rate: NA%
Household income or consumption by percentage share: lowest 10%: 1.7% highest 10%: 32.8% (1998)
Distribution of family income - Gini index: 42.4 (1998)
Investment (gross fixed): 24.4% of GDP (2007 est.)
Budget: revenues: $264.2 million expenditures: $335.4 million; including capital expenditures of $NA (2007 est.)
Inflation rate (consumer prices): 8.3% (2007 est.)
Central bank discount rate: 10.12% (31 December 2007)
Commercial bank prime lending rate: 16.84% (31 December 2007)
Stock of money: $208.7 million (31 December 2007)
Stock of quasi money: $141 million (31 December 2007)
Stock of domestic credit: $342 million (31 December 2007)
Agriculture - products: coffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, hides
Industries: light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing
Industrial production growth rate: 6.4% (2007 est.)
Electricity - production: 87 million kWh (2006 est.)
Electricity - consumption: 120.9 million kWh (2006 est.)
Electricity - exports: 0 kWh (2007 est.)
Electricity - imports: 40 million kWh; note - supplied by the Democratic Republic of the Congo (2007 est.)
Oil - production: 0 bbl/day (2007 est.)
Oil - consumption: 2,956 bbl/day (2006 est.)
Oil - exports: 0 bbl/day (2005)
Oil - imports: 2,635 bbl/day (2005)
Oil - proved reserves: 0 bbl (1 January 2006 est.)
Natural gas - production: 0 cu m (2007 est.)
Natural gas - consumption: 0 cu m (2007 est.)
Natural gas - exports: 0 cu m (2007 est.)
Natural gas - imports: 0 cu m (2007 est.)
Natural gas - proved reserves: 0 cu m (1 January 2006 est.)
Current account balance: -$101 million (2007 est.)
Exports: $44 million f.o.b. (2007 est.)
Exports - commodities: coffee, tea, sugar, cotton, hides
Exports - partners: Germany 31.3%, Pakistan 6.8%, Belgium 5.8%, Sweden 4.3%, Rwanda 4.3%, France 4.2%, Sudan 4% (2007)
Imports: $272 million f.o.b. (2007 est.)
Imports - commodities: capital goods, petroleum products, foodstuffs
Imports - partners: Saudi Arabia 17%, Kenya 11.4%, Belgium 8.7%, France 6.1%, Uganda 5.4%, Germany 5.4%, India 4.8%, Pakistan 4.2% (2007)
Reserves of foreign exchange and gold: $177.1 million (31 December 2007 est.)
Debt - external: $1.2 billion (2003)
Market value of publicly traded shares: $NA
Currency (code): Burundi franc (BIF)
Exchange rates: Burundi francs (BIF) per US dollar - 1,065 (2007), 1,030 (2006), 1,138 (2005), 1,100.91 (2004), 1,082.62 (2003)

NOTE: The economy information regarding Burundi on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Burundi Economy 2008 information contained here. All suggestions for corrections of any errors about Burundi Economy 2008 should be addressed to the CIA.