Burundi Economy Profile 2009

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 rests primarily on weather conditions and international coffee and tea prices. The Tutsi minority, 14% of the population, dominates the coffee trade. 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 4% annually in 2006-08. 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)

$3.102 billion (2008 est.)
$2.969 billion (2007 est.)
$2.865 billion (2006 est.)
note: data are in 2008 US dollars

GDP (official exchange rate)

$1.097 billion (2008 est.)

GDP - real growth rate

4.5% (2008 est.)
3.6% (2007 est.)
5.1% (2006 est.)

GDP - per capita (PPP)

$400 (2008 est.)
$400 (2007 est.)
$400 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector

agriculture: 33.4%
industry: 21%
services: 45.6% (2008 est.)

Population below poverty line

68% (2002 est.)

Labor force

4.245 million (2007)

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%: 4.1%
highest 10%: 28% (2006)

Distribution of family income - Gini index

42.4 (1998)

Investment (gross fixed)

12.5% of GDP (2008 est.)

Budget

revenues: $295.2 million
expenditures: $355 million; including capital expenditures of $NA (2008 est.)

Inflation rate (consumer prices)

24.1% (2008 est.)
8.3% (2007 est.)

Central bank discount rate

NA% (31 December 2008)
10.12% (31 December 2007)

Commercial bank prime lending rate

NA% (31 December 2008)
16.84% (31 December 2007)

Stock of money

$NA (31 December 2008)
$208.7 million (31 December 2007)

Stock of quasi money

$NA (31 December 2008)
$141 million (31 December 2007)

Stock of domestic credit

$NA (31 December 2008)
$342 million (31 December 2007)

Industries

light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing

Industrial production growth rate

5% (2008 est.)

Electricity - production

87 million kWh (2006 est.)

Electricity - production by source

fossil fuel: 0.6%
hydro: 99.4%
nuclear: 0%
other: 0% (2001)

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 - imports

2,635 bbl/day (2005)

Oil - exports

0 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

$-183 million (2008 est.)
$-116.8 million (2007 est.)

Agriculture - products

coffee, cotton, tea, corn, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, hides

Exports

$79 million (2008 est.)
$52.9 million (2007 est.)

Exports - commodities

coffee, tea, sugar, cotton, hides

Exports - partners

Japan 22.3%, Germany 14.4%, Pakistan 7.5%, Rwanda 4.7%, Sudan 4.4% (2008)

Imports

$350 million (2008 est.)
$257.6 million (2007 est.)

Imports - commodities

capital goods, petroleum products, foodstuffs

Imports - partners

Saudi Arabia 18.3%, Kenya 10.7%, Belgium 7.9%, France 5.8%, Uganda 5.1%, China 4.9%, India 4.5%, Germany 4.3% (2008)

Reserves of foreign exchange and gold

$266.7 million (31 December 2008 est.)
$177.1 million (31 December 2007 est.)

Debt - external

$1.2 billion (2003)

Market value of publicly traded shares

$NA

Economic aid - recipient

$365 million (2005)

Currency (code)

BIF

Currency (code)

Burundi franc (BIF)

Exchange rates

Burundi francs (BIF) per US dollar - 1,198 (2008 est.), 1,065 (2007), 1,030 (2006), 1,138 (2005), 1,100.91 (2004)

Fiscal year

calendar year