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Economy of Burkina Faso vs Gambia compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $2.4B for the Gambia, ranking 122/197 and 174/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $1.92B (80% of GDP) in the Gambia.

Burkina Faso vs Gambia GDP by year

Burkina Faso
Gambia
1x
Year GDP, current $
Burkina Faso Gambia
2024 $23,124,729,853 $2,404,888,749
2023 $20,112,614,449 $2,382,262,185
2022 $18,622,421,395 $2,204,734,528
2021 $19,697,516,284 $2,014,158,842
2020 $17,725,010,533 $1,812,170,891
2019 $16,032,813,503 $1,813,609,692
2018 $15,890,066,221 $1,670,671,328
2017 $14,106,955,615 $1,504,909,463
2016 $12,833,363,045 $1,484,578,886
2015 $11,832,159,316 $1,378,176,609
2014 $13,943,016,077 $1,229,461,721
2013 $13,444,300,486 $1,375,609,453
2012 $12,561,015,157 $1,415,004,738
2011 $12,080,295,978 $1,409,693,597
2010 $10,109,619,741 $1,543,294,927
2009 $9,450,696,873 $1,450,142,509
2008 $9,451,435,490 $1,561,766,956
2007 $7,625,722,837 $1,279,703,047
2006 $6,547,419,820 $1,054,112,488
2005 $6,146,353,173 $1,027,701,068
2004 $5,451,688,538 $961,900,651
2003 $4,740,768,143 $487,038,685
2002 $3,622,350,063 $578,235,309
2001 $3,190,371,081 $687,410,645
2000 $2,968,370,088 $782,913,872
1999 $3,389,566,713 $814,724,032
1998 $2,804,902,367 $840,285,265
1997 $2,447,669,102 $803,633,342
1996 $2,586,550,595 $848,239,446
1995 $2,379,517,975 $785,999,865
1994 $1,895,290,637 $746,493,952
1993 $3,199,536,465 $755,040,974
1992 $3,356,692,505 $714,254,256
1991 $3,135,045,584 $690,311,081
1990 $3,101,300,779 $317,083,695
1989 $2,615,587,734 $284,120,329
1988 $2,616,040,479 $266,672,212
1987 $2,369,834,950 $220,626,484
1986 $2,036,303,358 $185,646,987
1985 $1,552,493,196 $225,726,359
1984 $1,459,880,132 $177,340,880
1983 $1,600,278,605 $213,448,585
1982 $1,754,450,096 $216,050,552
1981 $1,775,842,334 $218,767,743
1980 $1,928,719,888 $241,083,090
1979 $1,748,480,621 $207,112,628
1978 $1,475,583,645 $171,833,086
1977 $1,131,224,878 $138,093,099
1976 $976,547,188 $112,190,829
1975 $939,972,703 $115,179,719
1974 $751,133,430 $95,796,022
1973 $674,773,570 $75,187,749
1972 $578,595,522 $59,160,569
1971 $482,411,179 $55,728,663
1970 $458,404,269 $52,296,084
1969 $478,298,645 $45,168,072
1968 $460,442,689 $41,160,066
1967 $450,753,924 $46,695,007
1966 $433,889,766 $44,212,081
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/gambia | CC BY

GDP per capita in Burkina Faso vs Gambia by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Gambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Gambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $871 $3,476
2023 $873 $2,759 $883 $3,289
2022 $827 $2,645 $836 $3,067
2021 $896 $2,486 $782 $2,778
2020 $825 $2,381 $720 $2,531
2019 $765 $2,232 $738 $2,422
2018 $777 $2,073 $696 $2,277
2017 $709 $2,042 $643 $2,039
2016 $664 $1,882 $650 $2,013
2015 $630 $1,692 $620 $1,990
2014 $765 $1,661 $568 $1,934
2013 $760 $1,643 $654 $2,007
2012 $731 $1,572 $693 $2,065
2011 $725 $1,531 $711 $2,064
2010 $625 $1,449 $801 $2,267
2009 $602 $1,360 $775 $2,177
2008 $619 $1,351 $859 $2,088
2007 $515 $1,290 $725 $1,985
2006 $456 $1,244 $615 $1,931
2005 $441 $1,172 $616 $1,938
2004 $404 $1,079 $593 $1,979
2003 $362 $1,038 $309 $1,850
2002 $285.7 $974 $377 $1,744
2001 $259.5 $948 $460 $1,823
2000 $248.9 $896 $538 $1,731
1999 $292.8 $886 $575 $1,649
1998 $249.5 $838 $610 $1,572
1997 $223.9 $794 $600 $1,544
1996 $242.7 $753 $652 $1,489
1995 $229.1 $684 $622 $1,472
1994 $187.2 $650 $608 $1,473
1993 $324 $644 $635 $1,487
1992 $349 $623 $623 $1,462
1991 $334 $623 $628 $1,440
1990 $339 $567 $301 $1,409
1989 $293.2 - $280.9 -
1988 $301 - $274.9 -
1987 $280.2 - $237 -
1986 $247.5 - $207.7 -
1985 $194.1 - $262.8 -
1984 $187.8 - $214.8 -
1983 $211.9 - $268.6 -
1982 $239 - $282.1 -
1981 $248.7 - $296 -
1980 $277.6 - $338 -
1979 $258.5 - $300 -
1978 $223.9 - $257.6 -
1977 $176 - $213.8 -
1976 $155.5 - $179.3 -
1975 $152.9 - $189.8 -
1974 $124.7 - $162.6 -
1973 $114.1 - $131.4 -
1972 $99.6 - $106.5 -
1971 $84.5 - $103.3 -
1970 $81.7 - $99.8 -
1969 $86.8 - $88.7 -
1968 $85 - $83.1 -
1967 $84.6 - $97 -
1966 $82.8 - $94.4 -
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/gambia | CC BY

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $871 in the Gambia, ranking 183/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while the Gambia ranks 172nd at $3,476.

Economic indicators

Burkina Faso Gambia
Gross domestic product
$23.1B
2024
$2.4B
2024
GDP rank
122/197
2024
174/197
2024
GDP growth
4.8%
2023-2024
5.55%
2023-2024
GDP per capita
$982
2024
$871
2024
GDP per capita rank
180/197
2024
183/197
2024
GDP per capita, PPP
$2,896
2024
$3,476
2024
GDP per capita PPP rank
181/197
2024
172/197
2024
Government debt
$13.2B
2024
$1.92B
2024
Debt-to-GDP ratio
57.2%
2024
80%
2024
Government debt per person
$562
2024
$697
2024
Government debt per person rank
162/185
2024
155/185
2024
Average annual personal income after taxes
$2,710
2026
$741
2026
Income share by richest 10%
30.2%
2021
30.5%
2020
Income share by poorest 10%
3%
2021
2.6%
2020
Government expenditure, % of GDP
27.8%
2024
25.8%
2024
Consumer prices inflation
4.19%
2023-2024
11.6%
2023-2024
Central bank interest rate n/a
17%
2023
Unemployment rate
3.44%
2024
6.48%
2023
Population
24756783
2902554

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Gambia
Spending

Debt
1x
Year % of GDP
Burkina Faso Gambia
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 25.8% 80%
2023 29.4% 56.8% 24.9% 80.2%
2022 32.9% 59.2% 24.6% 83.9%
2021 27.8% 55.5% 21.5% 83.1%
2020 24.4% 43.6% 25.3% 85.9%
2019 23.3% 41.7% 23.9% 83%
2018 24.2% 38.1% 19% 83.6%
2017 26.3% 33.9% 23.6% 87%
2016 21.6% 32.9% 19.4% 80.7%
2015 20.4% 31.3% 19.6% 69.4%
2014 20.9% 26.1% 19% 71.1%
2013 25.3% 25.9% 17.2% 58.2%
2012 22.7% 25.2% 19.1% 49.5%
2011 20.4% 24.5% 16.5% 49.2%
2010 21.7% 23.7% 14.6% 42.9%
2009 21.5% 25.9% 14.4% 38.9%
2008 18.6% 24.9% 11.6% 39.5%
2007 22.8% 22.4% 11.2% 38%
2006 21.9% 20.1% 14% 87.3%
2005 20.2% 39.2% 12.9% 82.6%
2004 20.3% 40.7% 12.4% 81.3%
2003 17.6% 39.7% 9.3% 91.7%
2002 19.5% 43.3% 8.59% 93.9%
2001 19.7% 46.6% 9.68% 75.2%
2000 19.8% 47.5% 9.54% 73.3%
1999 21.4% 46.4% - -
1998 19.7% 47.7% - -
1997 20% 48.4% - -
1996 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/burkina-faso/gambia | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while the Gambia spent $621M, or 25.8% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 80% in the Gambia, ranking 89/185 and 45/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Gambia
1x
Year Deficit/surplus, % of GDP
Burkina Faso Gambia
2024 -5.84% -4.08%
2023 -6.91% -3.69%
2022 -10.9% -5.72%
2021 -7.45% -4.77%
2020 -5.16% -2.37%
2019 -3.39% -2.75%
2018 -4.43% -3.92%
2017 -6.92% -4.35%
2016 -3.08% -6.22%
2015 -2.09% -5.38%
2014 -1.74% -3.94%
2013 -3.55% -5.11%
2012 -2.76% -2.85%
2011 -2.04% -3.03%
2010 -4.06% -2.93%
2009 -4.16% -1.65%
2008 -3.63% -0.45%
2007 -5.01% 0.27%
2006 14.3% -3.19%
2005 -4.89% -3.33%
2004 -4.19% -1.77%
2003 -1.79% -1.73%
2002 -4.43% 0.06%
2001 -3.56% -2.52%
2000 -3.03% -0.09%
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/burkina-faso/gambia | 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 the Gambia's deficit of $98.2M, or 4.08% of GDP.

Over the past 25 years, Burkina Faso recorded a fiscal deficit in 24 of those years, while the Gambia ran a deficit in 23 years. On average, Burkina Faso posted an annual deficit equal to 3.63% of GDP, compared to deficit of 3.02% of GDP for the Gambia.

Inflation comparison by year

Inflation
Burkina Faso

Gambia
1x
Year Consumer prices inflation
Burkina Faso Gambia
2024 4.19% 11.6%
2023 0.74% 17%
2022 14.3% 11.5%
2021 3.65% 7.37%
2020 1.88% 5.93%
2019 -3.23% 7.12%
2018 1.96% 6.52%
2017 1.48% 8.03%
2016 0.44% 7.23%
2015 0.72% 6.81%
2014 -0.26% 5.95%
2013 0.53% 5.7%
2012 3.82% 4.25%
2011 2.76% 4.8%
2010 -0.76% 5.05%
2009 2.61% 4.56%
2008 10.7% 4.44%
2007 -0.23% 5.37%
2006 2.33% 2.06%
2005 6.42% 4.84%
2004 -0.4% 14.2%
2003 2.03% 17%
2002 2.18% 8.61%
2001 5.01% 4.49%
2000 -0.3% 0.84%
1999 -1.07% 3.81%
1998 5.08% 1.11%
1997 2.32% 2.78%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Burkina Faso has recorded an average annual inflation rate of 2.46%, compared with 6.75% in the Gambia. In 2024, inflation was 4.19% in Burkina Faso and 11.6% in the Gambia.

Top exports between countries

Burkina Faso
Export category Export value
Machinery & equipment $1.44M
Processed food, beverages & tobacco $81K
Textiles & consumer goods $14K
Raw agricultural goods $12K
Chemicals & pharma $9K
Miscellaneous $7K
Metals $1K
Gambia
Export category Export value
Machinery & equipment $12K

Balance of trade

Burkina Faso Gambia
Current account balance
-$1.02B
2023
-$99.8M
2024
Current account balance ranking
122/190
2023
88/190
2024
Current account balance, % of GDP
-5.06%
2023
-4.15%
2024
Goods imports
$5.38B
2023
$1.39B
2024
Goods exports
$5.29B
2023
$363M
2024
Service imports
$1.45B
2023
$161M
2024
Service exports
$621M
2023
$485M
2024
Imports of goods and services, % of GDP
31.9%
2024
33.4%
2024
Exports of goods and services, % of GDP
28.6%
2024
8.75%
2024

Economic freedom indices

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

Burkina Faso Gambia
Economic freedom 49.1 56.3
Economic freedom ranking 167/197 123/197
Property rights 17.6 55.4
Government integrity 40.2 40.5
Judicial effectiveness 26.1 45.8
Tax burden 80.8 79.2
Government spending 72.9 81.1
Fiscal health 13.4 54.8
Business freedom 37.8 50.1
Labor freedom 62.1 46.4
Monetary freedom 71.9 57.3
Trade freedom 61 64.8
Investment freedom 65 50
Financial freedom 40 50

Economic freedom comparison by year

Burkina Faso
Gambia
1x
Year Economic freedom index
Burkina Faso Gambia
2026 49.1 56.3
2025 51 56.8
2024 51.9 58.2
2023 56.2 57.9
2022 58.3 58
2021 56.5 58.8
2020 56.7 56.3
2019 59.4 52.4
2018 60 52.3
2017 59.6 53.4
2016 59.1 57.1
2015 58.6 57.5
2014 58.9 59.5
2013 59.9 58.8
2012 60.6 58.8
2011 60.6 57.4
2010 59.4 55.1
2009 59.5 55.8
2008 55.7 56.9
2007 55.1 57.7
2006 55.8 57.3
2005 56.6 56.5
2004 58 55.3
2003 58.9 56.3
2002 58.8 57.7
2001 56.7 56.6
2000 55.7 52.7
1999 55 52.1
1998 54.5 53.4
1997 54 52.9
1996 49.4 -

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

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

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 56.3 for the Gambia, ranking 123/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Gambia
Services, % of GDP
43.9%
2024
56.8%
2024
Industry, % of GDP
26.5%
2024
15.3%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
20.4%
2024
GNI, Atlas method
$20.1B
2024
$2.43B
2024
GNI per capita, PPP
$2,720
2024
$3,430
2024
Total reserves including gold n/a
$629M
2024
Total reserves ranking n/a
151/177
2024
Net foreign direct investment
-$64.3M
2023
-$232M
2024
Net inflows of foreign direct investment
$82.9M
2024
$232M
2024
Net outflows of foreign direct investment
$2.73M
2024
-$665K
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
3.25%
2024
Poverty at national poverty lines
43.2%
2021
53.4%
2020
Gross capital formation, % of GDP
21.9%
2024
29.9%
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/burkina-faso/gambia | 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. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.