The economy of Burkina Faso shrank 1.3 percent year-on-year in the first quarter of 2020, compared to an upwardly revised 4.4 percent growth in the previous period. It was the first economic contraction since comparable data began in the first quarter of 2000, mainly attributable to the Covid-19 crisis. Output fell in services (-8.5 percent vs 5.3 percent in Q4) and in the secondary sector (-8.3 percent vs 3.7 percent). On a more positive note, notable growth was recorded in primary activities (20.4 percent vs 1.7 percent). On a seasonally adjusted quarterly basis, the GDP declined 6.6 percent, after increasing 3.7 percent in the previous quarter.
GDP Annual Growth Rate in Burkina Faso averaged 5.78 percent from 1991 until 2020, reaching an all time high of 25.70 percent in the fourth quarter of 1994 and a record low of -2.30 percent in the fourth quarter of 1999. This page provides - Burkina Faso GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Burkina Faso GDP Annual Growth Rate - values, historical data and charts - was last updated on September of 2020.
GDP Annual Growth Rate in Burkina Faso is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Burkina Faso to stand at 4.50 in 12 months time. In the long-term, the Burkina Faso GDP Annual Growth Rate is projected to trend around 4.70 percent in 2021 and 5.60 percent in 2022, according to our econometric models.