Burkina Faso

Burkina Faso is a beneficiary of the EU's "Everything but Arms"(EBA) scheme for least developed countries. The World Bank considers Burkina Faso a low-income economy with a per-capita income of $850 in 2022. Preferential imports from Burkina Faso summed up to €22,8 million in 2022.

What is the EBA?

The “Everything but Arms”(EBA) scheme is a permanent arrangement covering Least Developed Countries (LDCs) as classified by the United Nations. This arrangement enables duty-free and quota-free access for all products (7,200 products in total) originating in LDCs except for arms and ammunition. Unlike beneficiaries of the Standard GSP and GSP+, LDCs are not excluded from the scheme if they benefit from other preferential arrangements or agreements with the EU.

Burkina Faso flag

At a glance: EU preferential imports from EBA beneficiary countries

group

23.0M (2023)

Population

account_balance
Presidential Republic

Government

trending_up

3.0% (2023)

GDP Growth

equalizer

0.7% (2023)

Inflation

money

$ 20.3B (2023)

GDP

27 v

Freedomhouse index

4 v

ITUC Global Rights Index

35.5 v

Environmental Performance Index

Facts about Burkina Faso's economy

Export Products

Burkina Faso's most important export products are gold, cotton, and zinc, as well as a number of agricultural products such as cashew nuts, sesame seeds, oil seeds, and vegetable fats and oils. Gold alone accounts for about 3/4 of total export earnings, making the economy vulnerable to price fluctuations in this commodity.

Trade Partners

Burkina Faso's main trading partners are Switzerland, India and the EU. Switzerland is the most important export market, accounting for over 64% of exports. Important regional trading partners are the Ivory Coast and Ghana.

Economic Structure

About 80% of the country's population are working in the agricultural sector, with cotton being the most important crop. The gross of the agricultural sector remains subsistence farming. Burkina Faso benefits from significant manganese and gold deposits. Most industries remain underdeveloped, although some plants exist which focus on food and beverages, textiles, shoes, and bicycle parts. The services sector absorbed recent losses in the agricultural sector and mining industry.

Trade with the EU

Total trade with the EU summed up to € 1,085 million in 2022. The EU is Burkina Faso's fourth most important trading partner and accounts for a share of 7.1%.

Development Challenges

Burkina Faso is a landlocked economy which faces a number of development challenges. This includes the continuously high share of the population, about 40%, which lives below the national poverty line as well as persistent security risks. Nonetheless, economic indicators in recent years suggested a stable macroeconomic environment.

Usage of EBA Preferences

Currently about 15% of EU imports from Burkina Faso make use of the preferential access granted by the EBA. The preference utilisation rate, which represents the ratio of preferential imports to GSP eligible imports, currently stands at 95%.

Burkina Faso and the EU

Imports from Burkina Faso by product section (2023, € million)

Imports from Burkina Faso over time (€ million)

BURKINA FASO AND THE EU’s GSP

Economic Impact

17%

Ony 17% of Burkina Faso's exports to the European market are eligible for EBA preferences.

95.10%

Burkina Faso has a very high preference utilisation rate of 95%.

Preference utilisation and export diversification

Burkina Faso's imports to the EU

Preference Utilisation vs. total eligible imports

Burkina Faso’s preference utilisation rate was comparatively steady between 2017 and 2022, always above 90%. All major product groups which are imported under the EBA make considerable use of the duty suspensions with preference utilisation rates of well above 90%.

The largest product sections under EBA

Fruit and vegetable as well as mineral products are the main products imported from Burkina Faso. They account for almost 70% of total imports. The latter is imported under MFN duties. Only 4% of imports of fruit and vegetable are under the EBA scheme, but the GSP utilisation remains high, at 99%. The largest product section under the EBA is animal and vegetable fats, which accounts for 80% of preferential imports.

SUSTAINABLE DEVELOPMENT

As a beneficiary of the EBA, Burkina Faso is not obligated to ratify any conventions to be able to benefit from preferential access to the European market. Nonetheless, Burkina Faso maintains a very high level of ratification and has ratified all 15 core international conventions on human and labour rights. This includes 7 UN human rights conventions and 8 ILO conventions on labour standards. Additionally, Burkina Faso has ratified 8 conventions on environmental protection and 4 conventions on good governance aspects.

Core international conventions on human rights and labour standards

Ratified

  • Convention on the Prevention and Punishment of the Crime of Genocide (1948)
  • International Convention on the Elimination of All Forms of Racial Discrimination (1969)
  • International Covenant on Civil and Political Rights (1976)
  • International Covenant on Economic Social and Cultural Rights (1976)
  • Convention on the Elimination of All Forms of Discrimination Against Women (1981)
  • Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment (1987)
  • Convention on the Rights of the Child (1990)
  • Convention concerning Forced or Compulsory Labour, No 29 (1930)
  • Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
  • Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
  • Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
  • Convention concerning the Abolition of Forced Labour, No 105 (1957)
  • Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
  • Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
  • Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)

Additional Conventions

  • Convention on International Trade in Endangered Species of Wild Fauna and Flora (1973)
  • Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
  • Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
  • Convention on Biological Diversity (1992)
  • The United Nations Framework Convention on Climate Change (1992)
  • Cartagena Protocol on Biosafety (2000)
  • Stockholm Convention on persistent Organic Pollutants (2001)
  • Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
  • United Nations Single Convention on Narcotic Drugs (1961)
  • United Nations Convention on Psychotropic Substances (1971)
  • United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
  • United Nations Convention against Corruption (2004)

EU-Burkina Faso Bilateral Development Assistance

DG INTPA

Access all info about EU-Burkina Faso relations on the International Partnerships website: https://international-partnerships.ec.europa.eu/countries/burkina-faso_en

Opportunities in Burkina Faso

  • Comparatively sound macroeconomic environment
  • Recent progress on improving the business environment, including for instance facilitating business registration, strengthening land property laws, and establishing commercial courts

Contact points