Economy

Economy—overview: Burundi is a landlocked resource-poor country in an early stage of economic development. The economy is predominately agricultural with roughly 90% of the population dependent on subsistence agriculture. Its economic health depends on the coffee crop which accounts for 80% of foreign exchange earnings. The ability to pay for imports therefore rests largely on the vagaries of the climate and the international coffee market. As part of its economic reform agenda launched in February 1991 with IMF and World Bank support Burundi is trying to diversify its agricultural exports attract foreign investment in industry and modernize government budgetary practices. Since October 1993 the nation has suffered from massive ethnic-based violence which has resulted in the death of perhaps 100 000 persons and the displacement of a million others. Foods medicines and electricity remain in short supply. An impoverished and disorganized government can hardly implement the needed reform programs.

GDP: purchasing power parity—$4 billion (1997 est.)

GDP—real growth rate: 4.4% (1997 est.)

GDP—per capita: purchasing power parity—$660 (1997 est.)

GDP—composition by sector:

agriculture: 56%

industry: 18%

services: 26% (1995 est.)

Inflation rate—consumer price index: 26% (1996 est.)

Labor force:

total: 1.9 million

by occupation: agriculture 93.0% government 4.0% industry and commerce 1.5% services 1.5% (1983 est.)

Unemployment rate: NA%

Budget:

revenues: $222 million

expenditures: $258 million including capital expenditures of $92 million (1995 est.)

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

Industrial production growth rate: NA%

Electricity—capacity: 43 000 kW (1995)

Electricity—production: 158 million kWh (1995)

note: imports some electricity from Democratic Republic of the Congo

Electricity—consumption per capita: 32 kWh (1995)

Agriculture—products: coffee cotton tea corn sorghum sweet potatoes bananas manioc (tapioca); meat milk hides

Exports:

total value: $40 million (f.o.b. 1996)

commodities: coffee 81% tea cotton hides

partners: EU 60% US 7% Asia 1%

Imports:

total value: $127 million (c.i.f. 1996)

commodities: capital goods 26% petroleum products foodstuffs consumer goods

partners: EU 47% Asia 25% US 6%

Debt—external: $1.1 billion (1995 est.)

Economic aid:

recipient: ODA $NA

Currency: 1 Burundi franc (FBu) = 100 centimes

Exchange rates: Burundi francs (FBu) per US$1—412.59 (January 1998) 352.35 (1997) 302.75 (1996) 249.76 (1995) 252.66 (1994) 242.78 (1993)

Fiscal year: calendar year