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Economy of Burkina Faso vs Cape Verde compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $2.73B for Cape Verde, ranking 122/197 and 172/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $3.03B (111.2% of GDP) in Cape Verde.

Burkina Faso vs Cape Verde GDP by year

Burkina Faso
Cape Verde
1x
Year GDP, current $
Burkina Faso Cape Verde
2024 $23,124,729,853 $2,725,414,151
2023 $20,112,614,449 $2,504,525,549
2022 $18,622,421,395 $2,247,003,344
2021 $19,697,516,284 $2,051,842,619
2020 $17,725,010,533 $1,821,565,614
2019 $16,032,813,503 $2,252,177,124
2018 $15,890,066,221 $2,205,099,507
2017 $14,106,955,615 $1,996,741,540
2016 $12,833,363,045 $1,849,789,986
2015 $11,832,159,316 $1,749,857,620
2014 $13,943,016,077 $2,041,930,125
2013 $13,444,300,486 $2,028,910,915
2012 $12,561,015,157 $1,913,081,210
2011 $12,080,295,978 $2,046,817,987
2010 $10,109,619,741 $1,824,751,468
2009 $9,450,696,873 $1,852,334,575
2008 $9,451,435,490 $1,959,620,648
2007 $7,625,722,837 $1,649,621,739
2006 $6,547,419,820 $1,107,571,458
2005 $6,146,353,173 $972,241,677
2004 $5,451,688,538 $924,940,012
2003 $4,740,768,143 $813,260,469
2002 $3,622,350,063 $620,507,387
2001 $3,190,371,081 $563,090,490
2000 $2,968,370,088 $539,227,278
1999 $3,389,566,713 $592,416,703
1998 $2,804,902,367 $521,910,561
1997 $2,447,669,102 $490,608,658
1996 $2,586,550,595 $501,979,270
1995 $2,379,517,975 $487,148,994
1994 $1,895,290,637 $406,580,652
1993 $3,199,536,465 $490,417,390
1992 $3,356,692,505 $357,160,985
1991 $3,135,045,584 $319,827,059
1990 $3,101,300,779 $306,890,963
1989 $2,615,587,734 $267,448,571
1988 $2,616,040,479 $264,308,140
1987 $2,369,834,950 $235,253,065
1986 $2,036,303,358 $190,651,168
1985 $1,552,493,196 $137,728,205
1984 $1,459,880,132 $132,019,039
1983 $1,600,278,605 $138,476,176
1982 $1,754,450,096 $140,630,679
1981 $1,775,842,334 $139,468,209
1980 $1,928,719,888 $142,246,815
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/burkina-faso/cape-verde | CC BY

GDP per capita in Burkina Faso vs Cape Verde by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Cape Verde
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Cape Verde
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $5,192 $11,195
2023 $873 $2,759 $4,795 $10,242
2022 $827 $2,645 $4,323 $9,481
2021 $896 $2,486 $3,971 $7,685
2020 $825 $2,381 $3,539 $6,853
2019 $765 $2,232 $4,381 $8,646
2018 $777 $2,073 $4,295 $7,916
2017 $709 $2,042 $3,893 $7,936
2016 $664 $1,882 $3,609 $7,351
2015 $630 $1,692 $3,415 $6,773
2014 $765 $1,661 $3,986 $6,417
2013 $760 $1,643 $3,961 $6,367
2012 $731 $1,572 $3,737 $6,318
2011 $725 $1,531 $4,002 $6,384
2010 $625 $1,449 $3,579 $6,039
2009 $602 $1,360 $3,660 $5,901
2008 $619 $1,351 $3,909 $6,011
2007 $515 $1,290 $3,325 $5,567
2006 $456 $1,244 $2,257 $4,758
2005 $441 $1,172 $2,004 $4,324
2004 $404 $1,079 $1,929 $3,969
2003 $362 $1,038 $1,718 $3,551
2002 $285.7 $974 $1,329 $3,388
2001 $259.5 $948 $1,223 $3,217
2000 $248.9 $896 $1,190 $3,124
1999 $292.8 $886 $1,327 $2,714
1998 $249.5 $838 $1,187 $2,443
1997 $223.9 $794 $1,134 $2,182
1996 $242.7 $753 $1,180 $1,963
1995 $229.1 $684 $1,165 $1,762
1994 $187.2 $650 $991 $1,540
1993 $324 $644 $1,220 $1,291
1992 $349 $623 $908 $1,186
1991 $334 $623 $832 $1,069
1990 $339 $567 $817 $1,044
1989 $293.2 - $727 -
1988 $301 - $729 -
1987 $280.2 - $658 -
1986 $247.5 - $541 -
1985 $194.1 - $396 -
1984 $187.8 - $385 -
1983 $211.9 - $410 -
1982 $239 - $423 -
1981 $248.7 - $425 -
1980 $277.6 - $440 -
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/burkina-faso/cape-verde | CC BY

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $5,192 in Cape Verde, ranking 118/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while Cape Verde ranks 129th at $11,195.

Economic indicators

Burkina Faso Cape Verde
Gross domestic product
$23.1B
2024
$2.73B
2024
GDP rank
122/197
2024
172/197
2024
GDP growth
4.8%
2023-2024
7.24%
2023-2024
GDP per capita
$982
2024
$5,192
2024
GDP per capita rank
180/197
2024
118/197
2024
GDP per capita, PPP
$2,896
2024
$11,195
2024
GDP per capita PPP rank
181/197
2024
129/197
2024
Government debt
$13.2B
2024
$3.03B
2024
Debt-to-GDP ratio
57.2%
2024
111.2%
2024
Government debt per person
$562
2024
$5,776
2024
Government debt per person rank
162/185
2024
76/185
2024
Average annual personal income after taxes
$2,710
2026
$2,576
2026
Income share by richest 10%
30.2%
2021
32.3%
2015
Income share by poorest 10%
3%
2021
2.2%
2015
Government expenditure, % of GDP
27.8%
2024
26.1%
2024
Consumer prices inflation
4.19%
2023-2024
1%
2023-2024
Central bank interest rate n/a
1.5%
2024
Unemployment rate
3.44%
2024
11.3%
2019
Population
24756783
530391

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Cape Verde
Spending

Debt
1x
Year % of GDP
Burkina Faso Cape Verde
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 26.1% 111.2%
2023 29.4% 56.8% 25.7% 117.5%
2022 32.9% 59.2% 26.6% 127.6%
2021 27.8% 55.5% 30.8% 149.5%
2020 24.4% 43.6% 34.5% 144.3%
2019 23.3% 41.7% 27.5% 109.8%
2018 24.2% 38.1% 27.5% 112.3%
2017 26.3% 33.9% 28% 113%
2016 21.6% 32.9% 26.6% 115.6%
2015 20.4% 31.3% 28.7% 115.7%
2014 20.9% 26.1% 27.8% 105.7%
2013 25.3% 25.9% 30.9% 93.5%
2012 22.7% 25.2% 31.6% 82.9%
2011 20.4% 24.5% 30.3% 71.6%
2010 21.7% 23.7% 35.7% 73.5%
2009 21.5% 25.9% 30.6% 58.8%
2008 18.6% 24.9% 27.6% 57.5%
2007 22.8% 22.4% 27.1% 59.6%
2006 21.9% 20.1% 28.4% 66.2%
2005 20.2% 39.2% 26.2% 66.7%
2004 20.3% 40.7% 26.3% 67.8%
2003 17.6% 39.7% 23.4% 65.6%
2002 19.5% 43.3% 28.5% 64.7%
2001 19.7% 46.6% 24.2% 62.2%
2000 19.8% 47.5% 36.7% 71.9%
1999 21.4% 46.4% 35% 66.4%
1998 19.7% 47.7% 29.8% 72.9%
1997 20% 48.4% 34.8% 79.3%
1996 19.8% 45.8% 38.9% 85.7%
1995 19.4% 48.9% 44.5% 74.3%
1994 17.8% 55.1% 48.1% 73.4%
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/burkina-faso/cape-verde | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while Cape Verde spent $711M, or 26.1% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 111.2% in Cape Verde, ranking 89/185 and 16/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Cape Verde
1x
Year Deficit/surplus, % of GDP
Burkina Faso Cape Verde
2024 -5.84% -1.07%
2023 -6.91% -0.28%
2022 -10.9% -4.25%
2021 -7.45% -7.51%
2020 -5.16% -9.29%
2019 -3.39% -1.62%
2018 -4.43% -2.36%
2017 -6.92% -2.63%
2016 -3.08% -2.73%
2015 -2.09% -4.16%
2014 -1.74% -6.93%
2013 -3.55% -8.49%
2012 -2.76% -9.36%
2011 -2.04% -6.98%
2010 -4.06% -9.6%
2009 -4.16% -5.32%
2008 -3.63% -1.42%
2007 -5.01% -0.86%
2006 14.3% -4.32%
2005 -4.89% -4.69%
2004 -4.19% -2.98%
2003 -1.79% -3.63%
2002 -4.43% -6.14%
2001 -3.56% -5.03%
2000 -3.03% -15.5%
1999 -3.29% -10.9%
1998 -2.6% -3.16%
1997 -2.64% -10.2%
1996 -1.67% -11.2%
1995 -2.65% -11.1%
1994 -1.89% -12.8%
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/burkina-faso/cape-verde | CC BY

In 2024, Burkina Faso's government deficit, the difference between spending and revenue, was $1.35B, equivalent to 5.84% of GDP. This compares to Cape Verde's deficit of $29.1M, or 1.07% of GDP.

Over the past 31 years, Burkina Faso recorded a fiscal deficit in 30 of those years, while Cape Verde ran a deficit in 31 years. On average, Burkina Faso posted an annual deficit equal to 3.4% of GDP, compared to deficit of 6.02% of GDP for Cape Verde.

Inflation comparison by year

Inflation
Burkina Faso

Cape Verde
1x
Year Consumer prices inflation
Burkina Faso Cape Verde
2024 4.19% 1%
2023 0.74% 3.7%
2022 14.3% 7.9%
2021 3.65% 1.9%
2020 1.88% 0.6%
2019 -3.23% 1.1%
2018 1.96% 1.3%
2017 1.48% 0.8%
2016 0.44% -1.4%
2015 0.72% 0.1%
2014 -0.26% -0.2%
2013 0.53% 1.5%
2012 3.82% 2.5%
2011 2.76% 4.5%
2010 -0.76% 2.1%
2009 2.61% 1%
2008 10.7% 6.8%
2007 -0.23% 4.4%
2006 2.33% 4.8%
2005 6.42% 0.4%
2004 -0.4% -1.9%
2003 2.03% 1.2%
2002 2.18% 1.9%
2001 5.01% 3.7%
2000 -0.3% -2.4%
1999 -1.07% 4.3%
1998 5.08% 4.4%
1997 2.32% 8.6%

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/burkina-faso/cape-verde | CC BY

Over the past 28 years, Burkina Faso has recorded an average annual inflation rate of 2.46%, compared with 2.31% in Cape Verde. In 2024, inflation was 4.19% in Burkina Faso and 1% in Cape Verde.

Top exports between countries

Burkina Faso
Export category Export value
Chemicals & pharma $15K
Cape Verde
Export category Export value

Balance of trade

Burkina Faso Cape Verde
Current account balance
-$1.02B
2023
$107M
2024
Current account balance ranking
122/190
2023
67/190
2024
Current account balance, % of GDP
-5.06%
2023
+3.91%
2024
Goods imports
$5.38B
2023
$1.17B
2024
Goods exports
$5.29B
2023
$328M
2024
Service imports
$1.45B
2023
$298M
2024
Service exports
$621M
2023
$830M
2024
Imports of goods and services, % of GDP
31.9%
2024
54%
2024
Exports of goods and services, % of GDP
28.6%
2024
42.5%
2024

Economic freedom indices

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

Burkina Faso Cape Verde
Economic freedom 49.1 71.4
Economic freedom ranking 167/197 32/197
Property rights 17.6 72.7
Government integrity 40.2 63.3
Judicial effectiveness 26.1 77.1
Tax burden 80.8 84.4
Government spending 72.9 79.5
Fiscal health 13.4 74.4
Business freedom 37.8 78.9
Labor freedom 62.1 59.5
Monetary freedom 71.9 80.4
Trade freedom 61 66.6
Investment freedom 65 60
Financial freedom 40 60

Economic freedom comparison by year

Burkina Faso
Cape Verde
1x
Year Economic freedom index
Burkina Faso Cape Verde
2026 49.1 71.4
2025 51 68.7
2024 51.9 62.9
2023 56.2 65.8
2022 58.3 66.7
2021 56.5 63.8
2020 56.7 63.6
2019 59.4 63.1
2018 60 60
2017 59.6 56.9
2016 59.1 66.5
2015 58.6 66.4
2014 58.9 66.1
2013 59.9 63.7
2012 60.6 63.5
2011 60.6 64.6
2010 59.4 61.8
2009 59.5 61.3
2008 55.7 57.9
2007 55.1 56.5
2006 55.8 58.6
2005 56.6 57.8
2004 58 58.1
2003 58.9 56.1
2002 58.8 57.6
2001 56.7 56.3
2000 55.7 51.9
1999 55 50.7
1998 54.5 48
1997 54 47.7
1996 49.4 49.7

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

GeoRank.org/economy/burkina-faso/cape-verde | CC BY

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 71.4 for Cape Verde, ranking 32/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Cape Verde
Services, % of GDP
43.9%
2024
68.7%
2024
Industry, % of GDP
26.5%
2024
10.7%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
4.92%
2024
GNI, Atlas method
$20.1B
2024
$2.6B
2024
GNI per capita, PPP
$2,720
2024
$11,000
2024
Total reserves including gold n/a
$783M
2024
Total reserves ranking n/a
144/177
2024
Net foreign direct investment
-$64.3M
2023
-$89.2M
2024
Net inflows of foreign direct investment
$82.9M
2024
$110M
2024
Net outflows of foreign direct investment
$2.73M
2024
$20.8M
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
5.69%
2024
Poverty at national poverty lines
43.2%
2021
24.8%
2023
Gross capital formation, % of GDP
21.9%
2024
16.4%
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/burkina-faso/cape-verde | CC BY

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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)
  8. TradeMap (2020, retrieved 2026-02-08)

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.