Ouagadougou: Revenues from Burkina Faso’s gold exports reached 2,394.7 billion CFA francs in 2023, comprising 74.6% of the country’s total exports, which exceeded 3,210 billion CFA francs during the same period. This was disclosed in the 2023 annual report on the balance of payments and international investment position, received by the AIB on Friday.
According to Burkina Information Agency, Burkina Faso produced 57.2 tonnes of gold in 2023, slightly less than the 58.1 tonnes produced in 2022. The report attributes this decline to reduced mining activities in areas with significant security challenges. Of the total production, 10.8 tonnes are estimated to have been exported through artisanal mining using informal channels. The report also notes an increase in the price of gold in 2023.
Gold is followed by cotton (4.8%), live animals (2.4%), cashew nuts (2.3%), and cement (2%) in earnings from Burkina’s exports for the year. On the import side, energy products were the largest component of foreign trade, amounting to 1,184 billion CFA francs and representing 36.3% of total purchases for the year. Overall, total imports reached 3,265.8 billion CFA francs.
C´te d’Ivoire emerged as the leading supplier of goods to Burkina Faso in 2023, with a 15% share of total imports, followed by China (12.5%) and Russia (8.1%). The data analysis for 2023 revealed a trade balance deficit of -56.7 billion CFA francs, indicating that the country imported more goods than it exported.
The 2023 annual report on the balance of payments and the international investment position was validated on November 6, 2024, by a technical committee. The Ministry of Economy and Finance later published it on their website at the beginning of 2025. Experts highlight that the information for the report was gathered from customs declarations, bank statements, annual surveys of economic operators, and financial data from various public and private bodies.