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Burkina Imports of Goods Amount to 1.20 trillion FCFA at the End of April 2024

As of April 2024, Burkina Faso’s exports rose 23.1% year-on-year to 1.087 trillion CFA francs, driven by cotton and gold sales. Imports grew 6.7% to 1,194.7 billion CFA francs, led by petroleum and pharmaceutical products. The trade deficit improved by 129.5 billion CFA francs from the previous year, despite declining exports and rising imports.




At the end of April 2024, total exports of goods stood at 1.087 trillion, up 23.1% year-on-year, while Burkina imports of goods stood at 1.2 trillion CFA francs, an increase of 6.7% compared to the end of April 2023.

In its monitoring report on economic and development indicators, published by the DGEP, May 2024 edition, the increase in exports of goods is attributable to the sale of cotton (+62.2%) and gold gross (+24.0%). In detail, mining products hold the yellow jersey among the main goods exported by Burkina Faso. Their weight in export revenues is estimated at 75.0%.

Burkina imports of goods increased by 6.7%

Primary products constitute the second largest export item with 19.2%, up 1.1 points over one year. As for processed products, they represent only 5.8% of the value of exports, down 1.6 percentage points, according to the DGEP.

Burkina imports of goods stood at 1.2 trillion FCFA at the end of April 2024, an increase of 6.7% compared to the end of April 2023. The main imported products are petroleum products (+17.5 %), followed by pharmaceutical products (+29.9%). Next come imports of mechanical machines (+10.5%).

Also, we note the contribution of purchases of road transport equipment other than passenger vehicles (+34.9%), mechanical machines (+13.3%) and electrical machines (+9.8%). In detail, imports of goods remain dominated by consumer goods, with a share of 70.2%, up 4.0 percentage points over one year.

Regarding capital goods, they represent 15.2% of the value of imports, up 0.7 points. As for intermediate goods, they account for 14.7%, down 4.6 percentage points compared to the same period, a year earlier.

The coverage rate of Burkina imports by exports stood at 91.0%

At the end of April 2024, Burkina Faso recorded a trade balance deficit of 107.7 billion CFA francs. This development is justified by the decline in exports of goods combined with a strong increase in imports of goods.

However, the report specifies, this deficit is an improvement of 129.5 billion CFA francs compared to the same period, a year earlier. The coverage rate of Burkina imports by exports stood at 91.0%, a deterioration of 1.3 percentage points compared to the end of March 2024, states the DGEP in its report.


(Featured image by CHUTTERSNAP via Unsplash)

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Helene Lindbergh is a published author with books about entrepreneurship and investing for dummies. An advocate for financial literacy, she is also a sought-after keynote speaker for female empowerment. Her special focus is on small, independent businesses who eventually achieve financial independence. Helene is currently working on two projects—a bio compilation of women braving the world of banking, finance, crypto, tech, and AI, as well as a paper on gendered contributions in the rapidly growing healthcare market, specifically medicinal cannabis.

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