Economy of Burkina Faso
The Burkina Faso is one of the poorest countries of the world. This situation is explained by the population growth and the aridity of the grounds. Indeed, agriculture accounts for 32% of the Gross domestic product and occupies 80% of the active population. It is mainly about breeding but also, especially in the south and south-west, of culture of Sorgho, millet, Maïs, Arachide S, Riz and Coton. Burkina Faso is the first African French bean but cotton exporter, also.
Its economy resists after a fashion the fall of world rates of the Coton, main resource of export. Whereas the price of the inputs (seeds, manure) increases, the price of cotton falls year by year:
Its economy was strongly weakened by the crisis in Ivory Coast, Abidjan being hitherto the main port of transit of its goods intended for export. In spite of these " turbulences" , the country knew to maintain an economy stable, and its growth annual does not cease increasing. Thus, from 1,6% in 2001, the growth of its GDP passed to 6,4% in 2006. In order to more not undergo the falls of the mondieux courses of cotton, Burkina tries to diversify its economy. The country develops its cereal culture, and is investing in the mining sector, in particular in the Or, and the Zinc.
The under-employment involves a strong rate of emigration: for example, three million Burkinabes lives in Ivory Coast. According to the Central bank of the States of West Africa, these migrants repatriate each year of tens of billion francs CFA in Burkina Faso. Since expulsions of the Ghana in 1967, this situation also causes tensions with the host countries. The last crisis goes back to the events of 2003 in Ivory Coast which involved the return of 300.000 migrants.
Half of the population of the country lives in lower part of the poverty line.
The international assistance also takes part for a great part in the economic activity of the country.
It is in addition advisable to quote some mining productions: Copper, Iron and especially Gold.
Burkina Faso is member of the economic Union and monetarist West African and of the Autorité of Liptako-Gourma.
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