• Gold, cotton and sesame seeds in the lead
• Switzerland, the United Arab Emirates and India, main customers
• “Diesel”, “Super fuel”, “Fuel oil”, the most imported products
LForeign trade statistics for the last quarter of 2023 are available. Published by the Ministry of the Economy, through its statistical bulletin, in February 2024, the figures show that Burkina Faso experienced an eventful quarter, both in terms of imports and exports.
« Au 4e quarter of 2023, the deficit in the foreign trade balance deteriorated compared to the previous quarter, going from -267.86 billion FCFA to -267.91 billion FCFA, a deterioration of 0.05 billion FCFA. This situation is explained by an increase in exports of 75.43 billion FCFA combined with an increase in imports of approximately the same amount (+75.48 billion FCFA),” we can read in the document.
75 billion FCFA more on exports
According to data from the ministry’s DGESS, the increase in exports results from those of “non-monetary gold” (+37.90 billion FCFA), “cotton not carded or combed” (+26.59 billion FCFA). ) and “sesame seeds” (+13.78 billion FCFA).
In the table of the evolution of the main exported products, we also note a drop in exports of “portland cement” (-5.41 billion FCFA) and “mangoes, fresh or dried” (-3.32 billion FCFA).
“Non-monetary gold” with an exported value of 577.82 billion FCFA, “cotton not carded or combed” (34.51 billion FCFA) and “shea seeds” (241.36 billion FCFA) represent 91. 4% of total exports in the fourth quarter of 2023.
Burkina Faso’s main customers in the fourth quarter of 2023 are Switzerland, with 451.19 billion FCFA (64.7%), the United Arab Emirates with 85.35 billion FCFA (12.2%), India with 43, 97 billion FCFA (6.3%), Mali with 21.88 billion FCFA (3.1%) and Côte d’Ivoire with 17.67 billion FCFA (2.5%). Compared to the previous quarter, exports to India increased by 43.81 billion FCFA, those to the United Arab Emirates, consisting mainly of “non-monetary gold”, increased by 21.65 billion FCFA, those to Côte d’Ivoire by 14.76 billion FCFA, while those to Switzerland and Mali decreased by 27.82 billion FCFA and 0.51 billion FCFA respectively. Compared to the same period of 2022, exports to the United Arab Emirates and India improved by 80.5 billion FCFA and 42.99 billion FCFA respectively, while those to Mali and Ivory Coast fell respectively by 77.85 billion FCFA and 25.04 billion FCFA.
Hydrocarbons more expensive in the last quarter of 2023
Examination of the data in the following table shows that in the fourth quarter of 2023, imports increased by 75.48 billion FCFA compared to the previous quarter, mainly due to the increase in imports of “Super fuel” (+ 50.37 billion FCFA), “Diesel” (+ 41.24 billion FCFA) and “Fuel oil” (+ 13.65 billion FCFA).
During the same period, several other imported products recorded a decline. This is the case of the drop in imports of “Fertilizers” (-10.97 billion FCFA), “Clinkers” (-10.47 billion FCFA), “Insecticides, fungicides, herbicides,” (-6.34 billion FCFA). Note that “Diesel”, “Super fuel”, “Fuel oil” and “Medicines” constitute the most imported products with respective shares of 20.7%, 15.9%, 5. 7% and 3.1% of all imports during the fourth quarter of 2023. The total value of merchandise imports stood at 964.87 billion FCFA in the fourth quarter, compared to 889.39 billion FCFA in the third quarter. 2023, an increase of 75.48 billion FCFA (+8.5%). o
NK
Filet
Russia, Burkina’s leading supplier
Aith 13.9%, the Russian Federation is the leading supplier to Burkina Faso in the fourth quarter of 2023, followed by the People’s Republic of China (11.5%), Ghana (11.3%) and Côte d’Ivoire. Ivory (11.3%) as indicated in the table below.
Imports recorded an increase of 75.48 billion FCFA in the fourth quarter of 2023 linked, in particular, to those coming from Côte d’Ivoire (+27.17 billion FCFA), Italy (+24.00 billion FCFA), Turkey (+19.45 billion FCFA), Belgium (+19.35 billion FCFA), the United States (+17.75 billion FCFA) and Ghana (+16.83 billion FCFA) . Year-on-year, the increase in imports is due, among other things, to that of products from the Russian Federation (+87.35 billion FCFA) and Ghana (+34.91 billion FCFA).
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