Skip to content

Economy of Armenia vs Burkina Faso compared: GDP & Debt

Updated on by Georank team

Armenia has a GDP of $26B compared to $23.1B for Burkina Faso, ranking 114/197 and 122/197 by economy size, respectively.

Armenia has $13B in government debt (50% of GDP), compared to $13.2B (57.2% of GDP) in Burkina Faso.

Armenia vs Burkina Faso GDP by year

Armenia
Burkina Faso
1x
Year GDP, current $
Armenia Burkina Faso
2024 $25,955,275,380 $23,124,729,853
2023 $24,185,982,216 $20,112,614,449
2022 $19,513,506,553 $18,622,421,395
2021 $13,878,908,629 $19,697,516,284
2020 $12,641,698,583 $17,725,010,533
2019 $13,619,290,539 $16,032,813,503
2018 $12,457,940,695 $15,890,066,221
2017 $11,527,458,709 $14,106,955,615
2016 $10,546,136,236 $12,833,363,045
2015 $10,553,337,518 $11,832,159,316
2014 $11,609,513,247 $13,943,016,077
2013 $11,121,464,437 $13,444,300,486
2012 $10,619,320,683 $12,561,015,157
2011 $10,142,111,825 $12,080,295,978
2010 $9,260,285,756 $10,109,619,741
2009 $8,647,937,081 $9,450,696,873
2008 $11,662,040,714 $9,451,435,490
2007 $9,206,301,270 $7,625,722,837
2006 $6,384,452,067 $6,547,419,820
2005 $4,900,469,511 $6,146,353,173
2004 $3,576,615,240 $5,451,688,538
2003 $2,807,061,009 $4,740,768,143
2002 $2,376,335,048 $3,622,350,063
2001 $2,118,467,913 $3,190,371,081
2000 $1,911,563,669 $2,968,370,088
1999 $1,845,482,173 $3,389,566,713
1998 $1,893,726,437 $2,804,902,367
1997 $1,639,492,445 $2,447,669,102
1996 $1,596,968,946 $2,586,550,595
1995 $1,468,317,435 $2,379,517,975
1994 $1,315,158,637 $1,895,290,637
1993 $1,201,312,829 $3,199,536,465
1992 $1,272,835,453 $3,356,692,505
1991 $2,069,870,130 $3,135,045,584
1990 $2,256,863,449 $3,101,300,779
1989 - $2,615,587,734
1988 - $2,616,040,479
1987 - $2,369,834,950
1986 - $2,036,303,358
1985 - $1,552,493,196
1984 - $1,459,880,132
1983 - $1,600,278,605
1982 - $1,754,450,096
1981 - $1,775,842,334
1980 - $1,928,719,888
1979 - $1,748,480,621
1978 - $1,475,583,645
1977 - $1,131,224,878
1976 - $976,547,188
1975 - $939,972,703
1974 - $751,133,430
1973 - $674,773,570
1972 - $578,595,522
1971 - $482,411,179
1970 - $458,404,269
1969 - $478,298,645
1968 - $460,442,689
1967 - $450,753,924
1966 - $433,889,766
1965 - $422,916,790
1964 - $410,321,645
1963 - $394,040,667
1962 - $379,567,099
1961 - $350,247,234
1960 - $330,442,816

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/burkina-faso | CC BY

GDP per capita in Armenia vs Burkina Faso by year

Armenia
GDP per capita

GDP per capita, PPP
Burkina Faso
GDP per capita

GDP per capita, PPP
1x
Year Current $
Armenia Burkina Faso
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,556 $22,823 $982 $2,896
2023 $8,159 $21,534 $873 $2,759
2022 $6,572 $19,161 $827 $2,645
2021 $4,685 $15,922 $896 $2,486
2020 $4,269 $14,706 $825 $2,381
2019 $4,597 $14,976 $765 $2,232
2018 $4,196 $12,877 $777 $2,073
2017 $3,869 $12,066 $709 $2,042
2016 $3,524 $10,570 $664 $1,882
2015 $3,512 $9,757 $630 $1,692
2014 $3,852 $9,736 $765 $1,661
2013 $3,680 $9,455 $760 $1,643
2012 $3,512 $8,943 $731 $1,572
2011 $3,350 $7,624 $725 $1,531
2010 $3,041 $7,095 $625 $1,449
2009 $2,821 $6,812 $602 $1,360
2008 $3,778 $7,827 $619 $1,351
2007 $2,963 $7,137 $515 $1,290
2006 $2,042 $6,073 $456 $1,244
2005 $1,557 $5,172 $441 $1,172
2004 $1,130 $4,377 $404 $1,079
2003 $882 $3,836 $362 $1,038
2002 $743 $3,282 $285.7 $974
2001 $660 $2,844 $259.5 $948
2000 $593 $2,531 $248.9 $896
1999 $583 $2,377 $292.8 $886
1998 $590 $2,239 $249.5 $838
1997 $505 $2,040 $223.9 $794
1996 $487 $1,922 $242.7 $753
1995 $444 $1,767 $229.1 $684
1994 $391 $1,591 $187.2 $650
1993 $348 $1,440 $324 $644
1992 $356 $1,492 $349 $623
1991 $573 $2,477 $334 $623
1990 $635 $2,760 $339 $567
1989 - - $293.2 -
1988 - - $301 -
1987 - - $280.2 -
1986 - - $247.5 -
1985 - - $194.1 -
1984 - - $187.8 -
1983 - - $211.9 -
1982 - - $239 -
1981 - - $248.7 -
1980 - - $277.6 -
1979 - - $258.5 -
1978 - - $223.9 -
1977 - - $176 -
1976 - - $155.5 -
1975 - - $152.9 -
1974 - - $124.7 -
1973 - - $114.1 -
1972 - - $99.6 -
1971 - - $84.5 -
1970 - - $81.7 -
1969 - - $86.8 -
1968 - - $85 -
1967 - - $84.6 -
1966 - - $82.8 -
1965 - - $82.1 -
1964 - - $80.9 -
1963 - - $78.9 -
1962 - - $77.2 -
1961 - - $72.2 -
1960 - - $69.2 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/burkina-faso | CC BY

Armenia's GDP per capita is $8,556, ranking 90/197, compared to $982 in Burkina Faso, ranking 180/197. Adjusted for purchasing power (GDP per capita PPP), Armenia ranks 86th at $22,823, while Burkina Faso ranks 181st at $2,896.

Economic indicators

Armenia Burkina Faso
Gross domestic product
$26B
2024
$23.1B
2024
GDP rank
114/197
2024
122/197
2024
GDP growth
5.9%
2023-2024
4.8%
2023-2024
GDP per capita
$8,556
2024
$982
2024
GDP per capita rank
90/197
2024
180/197
2024
GDP per capita, PPP
$22,823
2024
$2,896
2024
GDP per capita PPP rank
86/197
2024
181/197
2024
Government debt
$13B
2024
$13.2B
2024
Debt-to-GDP ratio
50%
2024
57.2%
2024
Government debt per person
$4,275
2024
$562
2024
Government debt per person rank
89/185
2024
162/185
2024
Average annual personal income after taxes
$6,687
2026
$2,710
2026
Market capitalization of domestic companies
$4.85B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.9%
2023
30.2%
2021
Income share by poorest 10%
4%
2023
3%
2021
Government expenditure, % of GDP
29%
2024
27.8%
2024
Consumer prices inflation
0.4%
2023-2024
4.19%
2023-2024
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
8.3%
2023
3.44%
2024
Population
2989841
24756783

Spending and national debt comparison by year

Armenia
Spending

Debt
Burkina Faso
Spending

Debt
1x
Year % of GDP
Armenia Burkina Faso
Government spending Government debt Government spending Government debt
2024 29% 50% 27.8% 57.2%
2023 26.9% 50.4% 29.4% 56.8%
2022 26.4% 49.3% 32.9% 59.2%
2021 28.7% 63.6% 27.8% 55.5%
2020 30.6% 67.3% 24.4% 43.6%
2019 24.9% 54.2% 23.3% 41.7%
2018 24% 56.1% 24.2% 38.1%
2017 26% 58.1% 26.3% 33.9%
2016 27% 56.5% 21.6% 32.9%
2015 26.3% 48.3% 20.4% 31.3%
2014 24% 43.6% 20.9% 26.1%
2013 23.8% 41.6% 25.3% 25.9%
2012 22.4% 41.2% 22.7% 25.2%
2011 25% 42% 20.4% 24.5%
2010 26.2% 39.7% 21.7% 23.7%
2009 28.6% 40.2% 21.5% 25.9%
2008 22.2% 16.1% 18.6% 24.9%
2007 22.4% 16.1% 22.8% 22.4%
2006 20% 18.7% 21.9% 20.1%
2005 19.9% 24.4% 20.2% 39.2%
2004 - 26.4% 20.3% 40.7%
2003 - 33% 17.6% 39.7%
2002 - 38.2% 19.5% 43.3%
2001 - 38.1% 19.7% 46.6%
2000 - 39.6% 19.8% 47.5%
1999 - 39.2% 21.4% 46.4%
1998 - 45.2% 19.7% 47.7%
1997 - 46.5% 20% 48.4%
1996 - 40.8% 19.8% 45.8%
1995 - - 19.4% 48.9%
1994 - - 17.8% 55.1%
1993 - - 17.9% 33.6%
1992 - - 16.7% 29.6%
1991 - - 17% 28.7%
1990 - - 18.4% 25.6%
1989 - - 14.2% 25.5%
1988 - - 16.2% 28.8%
1987 - - 19.2% 30.7%
1986 - - 16.3% 27.6%
1985 - - 11.5% 28.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–2001, retrieved 2026-02-20).

GeoRank.org/economy/armenia/burkina-faso | CC BY

In 2024, Armenia's government spending was $7.53B, accounting for 29% of its GDP, while Burkina Faso spent $6.43B, or 27.8% of GDP.

Debt-to-GDP ratio is 50% in Armenia and 57.2% in Burkina Faso, ranking 108/185 and 89/185, respectively.

Government deficit by year

Deficit/surplus
Armenia

Burkina Faso
1x
Year Deficit/surplus, % of GDP
Armenia Burkina Faso
2024 -3.69% -5.84%
2023 -2.02% -6.91%
2022 -2.11% -10.9%
2021 -4.58% -7.45%
2020 -5.4% -5.16%
2019 -0.98% -3.39%
2018 -1.75% -4.43%
2017 -4.79% -6.92%
2016 -5.63% -3.08%
2015 -4.84% -2.09%
2014 -1.94% -1.74%
2013 -1.59% -3.55%
2012 -1.49% -2.76%
2011 -2.87% -2.04%
2010 -4.98% -4.06%
2009 -7.69% -4.16%
2008 -1.76% -3.63%
2007 -2.33% -5.01%
2006 -1.95% 14.3%
2005 -1.98% -4.89%
2004 - -4.19%
2003 - -1.79%
2002 - -4.43%
2001 - -3.56%
2000 - -3.03%
1999 - -3.29%
1998 - -2.6%
1997 - -2.64%
1996 - -1.67%
1995 - -2.65%
1994 - -1.89%
1993 - -3.81%
1992 - -2.51%
1991 - -2.77%
1990 - -7.54%
1989 - 1.96%
1988 - -4.32%
1987 - -5.27%
1986 - -5.1%
1985 - -1.21%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/armenia/burkina-faso | CC BY

In 2024, Armenia's government deficit, the difference between spending and revenue, was $958M, equivalent to 3.69% of GDP. This compares to Burkina Faso's deficit of $1.35B, or 5.84% of GDP.

Over the past 20 years, Armenia recorded a fiscal deficit in 20 of those years, while Burkina Faso ran a deficit in 19 years. On average, Armenia posted an annual deficit equal to 3.22% of GDP, compared to deficit of 3.68% of GDP for Burkina Faso.

Inflation comparison by year

Inflation
Armenia

Burkina Faso
1x
Year Consumer prices inflation
Armenia Burkina Faso
2024 0.4% 4.19%
2023 2% 0.74%
2022 8.8% 14.3%
2021 7.5% 3.65%
2020 1.5% 1.88%
2019 1.5% -3.23%
2018 2.5% 1.96%
2017 0.9% 1.48%
2016 -1.4% 0.44%
2015 3.7% 0.72%
2014 3% -0.26%
2013 5.7% 0.53%
2012 2.5% 3.82%
2011 7.5% 2.76%
2010 8.2% -0.76%
2009 3.5% 2.61%
2008 9.1% 10.7%
2007 4.4% -0.23%
2006 2.9% 2.33%
2005 0.6% 6.42%
2004 6.9% -0.4%
2003 4.7% 2.03%
2002 1% 2.18%
2001 3.2% 5.01%
2000 -0.8% -0.3%
1999 0.7% -1.07%
1998 8.7% 5.08%
1997 14% 2.32%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/burkina-faso | CC BY

Over the past 28 years, Armenia has recorded an average annual inflation rate of 4.04%, compared with 2.46% in Burkina Faso. In 2024, inflation was 0.4% in Armenia and 4.19% in Burkina Faso.

Balance of trade

Armenia Burkina Faso
Current account balance
-$1.19B
2024
-$1.02B
2023
Current account balance ranking
128/190
2024
122/190
2023
Current account balance, % of GDP
-4.6%
2024
-5.06%
2023
Goods imports
$15.4B
2024
$5.38B
2023
Goods exports
$13.2B
2024
$5.29B
2023
Service imports
$4.39B
2024
$1.45B
2023
Service exports
$5.86B
2024
$621M
2023
Imports of goods and services, % of GDP
76.4%
2024
31.9%
2024
Exports of goods and services, % of GDP
73.6%
2024
28.6%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Armenia Burkina Faso
Economic freedom 67.1 49.1
Economic freedom ranking 58/197 167/197
Property rights 48.6 17.6
Government integrity 51.8 40.2
Judicial effectiveness 31.4 26.1
Tax burden 87.2 80.8
Government spending 77.5 72.9
Fiscal health 84.1 13.4
Business freedom 72.9 37.8
Labor freedom 59.2 62.1
Monetary freedom 77.2 71.9
Trade freedom 75 61
Investment freedom 70 65
Financial freedom 70 40

Economic freedom comparison by year

Armenia
Burkina Faso
1x
Year Economic freedom index
Armenia Burkina Faso
2026 67.1 49.1
2025 65.4 51
2024 64.9 51.9
2023 65.1 56.2
2022 65.3 58.3
2021 71.9 56.5
2020 70.6 56.7
2019 67.7 59.4
2018 68.7 60
2017 70.3 59.6
2016 67 59.1
2015 67.1 58.6
2014 68.9 58.9
2013 69.4 59.9
2012 68.8 60.6
2011 69.7 60.6
2010 69.2 59.4
2009 69.9 59.5
2008 69.9 55.7
2007 68.6 55.1
2006 70.6 55.8
2005 69.8 56.6
2004 70.3 58
2003 67.3 58.9
2002 68 58.8
2001 66.4 56.7
2000 63 55.7
1999 56.4 55
1998 49.6 54.5
1997 46.7 54
1996 42.2 49.4

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/armenia/burkina-faso | CC BY

The Economic Freedom Index for Armenia is 67.1, ranking 58/197, compared to 49.1 for Burkina Faso, ranking 167/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Armenia Burkina Faso
Services, % of GDP
62%
2024
43.9%
2024
Industry, % of GDP
22.9%
2024
26.5%
2024
Agriculture, forestry, and fishing, % of GDP
7.81%
2024
20.9%
2024
GNI, Atlas method
$23.7B
2024
$20.1B
2024
GNI per capita, PPP
$22,020
2024
$2,720
2024
Total reserves including gold
$3.69B
2024
n/a
Total reserves ranking
111/177
2024
n/a
Net foreign direct investment
-$74.8M
2024
-$64.3M
2023
Net inflows of foreign direct investment
$132M
2024
$82.9M
2024
Net outflows of foreign direct investment
$56.8M
2024
$2.73M
2024
Servicing debt to the IMF, % of GNI
7.26%
2024
4.07%
2024
Poverty at national poverty lines
23.7%
2023
43.2%
2021
Gross capital formation, % of GDP
23.8%
2024
21.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/armenia/burkina-faso | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–2001, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.