Burkina Faso’s GDP per capita has nearly quadrupled since 2000, marking a 297% increase over 25 years

Key Takeaways

  • Burkina Faso's GDP per capita rose from $248.9 in 2000 to an estimated $987.3 in 2024, marking a nearly 297% increase over 25 years.
  • The country saw its largest single-year jump between 2007 and 2008, rising $104.7 from $514.7 to $619.4.
  • Economic downturns were visible in 2009 (-2.9%), 2015 (-17.6%), and 2022 (-6.6%), showing vulnerability to shocks.
  • Since 2020, GDP per capita has grown 19.6%, with 2024 recording the highest value in the dataset.

Burkina Faso’s GDP per capita has climbed from $248.9 in 2000 to an all-time high of $987.3 in 2024, a 297% increase over 25 years despite notable swings along the way. After an early 2000s growth and a sharp 2008 surge, the economy contracted during the global financial crisis, hitting a low of $630.1 in 2015. From 2022 onward, the country entered its fastest growth phase in over a decade, with GDP per capita rising from $836.1 to $987.3 in just two years.

This acceleration was fueled by a boom in industrial-scale gold production, which accounts for roughly 70% of export earnings, alongside resilient agricultural performance and stronger cross-border trade. In 2024, Burkina Faso’s GDP per capita placed it in Africa’s lower-middle tier, higher than several West African neighbors such as Mali, Niger, and Sierra Leone, reflecting steady progress despite persistent structural challenges.

Source:

World Bank

Period:

2000 - 2024
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
Three African countries have a debt-to-GDP ratio above 100%, with Sudan at 238.8%
  • Sudan’s debt-to-GDP ratio of 238.8% is the highest in Africa and over twice the size of its economy.
  • Three African countries—Sudan, Cabo Verde, and Zambia—have debt burdens exceeding 100% of their GDP.
  • Egypt, Mozambique, and the Congo Republic follow closely with ratios above 88% each, despite efforts at economic reform.
  • Ghana and Sierra Leone are also in the top 10, showing that West Africa isn’t exempt from debt pressure.
  • Nigeria, while not in the top 10, has a debt-to-GDP ratio of 41.3% and ranks 43rd in Africa.
  • A high debt-to-GDP ratio often limits a country’s ability to invest in growth-driving sectors, even if the economy is growing nominally.
DR Congo has the lowest debt-to-GDP ratio in Africa (11.1%), significantly below the 63.2% average
  • DR Congo has the lowest debt-to-GDP ratio in Africa, at just 11.1%.
  • Africa’s average debt-to-GDP ratio stands at 63.2%, meaning most countries on the bottom 10 list are performing better than the continental average.
  • Nigeria, despite its size and challenges, still maintains a relatively moderate debt load of 41.3%.
  • Botswana’s debt ratio of 18.1% places it among Africa’s most fiscally conservative economies.
  • Ethiopia and Guinea, both undergoing major economic transitions, still keep debt levels below 32%.
  • The presence of both low-income and resource-rich countries on the list shows that low debt isn’t exclusive to one economic model.
Nigeria’s GDP per capita dropped $710 below Sub-Saharan Africa’s average in 2024, its widest gap in 25 years
  • Nigeria’s GDP per capita stayed above the Sub-Saharan African average from 2002 to 2023.
  • In 2014, Nigeria peaked at $3,088.7, far ahead of the region’s $1,886.5.
  • The post-2014 oil crash triggered a prolonged economic slide for Nigeria.
  • By 2023, Nigeria ($1,596.6) and Sub-Saharan Africa ($1,580.8) were nearly identical.
  • In 2024, Nigeria fell sharply to $806.9, $710 below the regional average of $1,516.4, its widest gap in over two decades.
Ghana’s GDP per capita has grown nearly tenfold since 2000, despite years of economic volatility
  • Between 2000 and 2008, Ghana’s GDP per capita rose from $253.7 to $1,182.7, more than quadrupling in just nine years.
  • It peaked in 2013 at $2,294.8 but declined sharply after 2014.
  • After a dip in 2022, it rebounded to $2,405.8 in 2024, nearly 10 times higher than the figure in 2000.
  • The declines seen in 2009, 2015, and 2022 mirror global and local crises, including the 2008 financial crash, commodity shocks, and post-COVID disruptions.
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved