Burkina’s Trade Turnover Up 7.1% Annually, Report Says

The General Directorate of Economy and Planning (DGEP) has made public its April 2024 Economy and Development Monitoring Report. These are essentially the figures for the month of March 2024, for Burkina trade turnover. Several data stand out in No. 133 of the said report.

National economic activity in Burkina would increase by 5.5% in 2024 compared to an estimate of 3.0% in 2023. This performance is attributable to all sectors, with an increase in value added of 5.9% for the primary sector, 4.6% for secondary and 6.0% for tertiary. This is what emerges from the April 2024 Economic and Development Monitoring Report.

The document indicates that inflation, on an annual average, stands at 0.2% (the community standard of 3% maximum) in March 2024 as in the previous month, in connection with the increase in prices, in particular of functions ” alcoholic drinks, tobacco and narcotics” and “electricity, gas and other fuels”, mitigated by the drop in prices for the “food products and non-alcoholic drinks” function.

Burkina trade turnover index

During the month of March 2024, turnover in commerce increased by 7.1% at an annual rate, after 6.3% the previous month. This acceleration, according to the report, is mainly linked to the progression of activity in the “housing equipment” (+15.4) and “food products” (+12.1) branches.

In the first quarter of 2024, the average turnover in commerce is up 6.8% compared to the same quarter, a year earlier. This increase is linked to the increase in turnover, particularly in the “automobiles, motorcycles and spare parts” (+25.9) and “housing equipment” (+11.3) branches.

Gold production down in Burkina

The report states that in March 2024, industrial gold production is estimated at 4,544 tonnes, down 5.7% from the previous month. Compared to its level in March 2023, gold production falls by 6.9%.

At the end of March 2024, total industrial gold production is estimated at 13,666 tonnes compared to 13,934 tonnes at the end of March 2023, a decrease of 1.9%.

The monthly drop in gold production in March 2024, in Burkina, is mainly due to the drop in production from the SOMISA (SANBRADO) mines (-12.4%), HOUNDE GOLD (-12.5%) and BISSA GOLD SA (-4.3%), adds the document.

Burkina tourism and hospitality

Tourism and hospitality indicators are on the rise in March 2024. The report indicates that Burkina Faso recorded 46,530 tourists, an increase of 3.5% compared to February 2024. Concerning the number of nights, it stands at 105,262, an increase of 0.5%. As for revenues, they are estimated at 5.3 billion FCFA, an increase of 2.7%. Year-on-year, arrivals, overnight stays and revenues fell by 5.3%, 0.5% and 9.2% respectively.

In the first quarter of 2024, arrivals, overnight stays and revenues decrease respectively by 6.1%, 0.2% and 4.5% compared to the last quarter of 2023. Compared to the first quarter of 2023, arrivals decrease by 1. 2% while overnight stays are up 3.8%. As for revenues, they recorded a drop of 3.9%.

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(Featured image by Ian Taylor via Unsplash)

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First published in lefaso.net. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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