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Economy of Burkina Faso vs Guinea compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $25B for Guinea, ranking 122/197 and 118/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $12.2B (48.8% of GDP) in Guinea.

Burkina Faso vs Guinea GDP by year

Burkina Faso
Guinea
1x
Year GDP, current $
Burkina Faso Guinea
2024 $23,124,729,853 $25,008,678,293
2023 $20,112,614,449 $22,407,615,556
2022 $18,622,421,395 $19,910,452,542
2021 $19,697,516,284 $17,069,115,738
2020 $17,725,010,533 $14,088,693,743
2019 $16,032,813,503 $13,442,861,496
2018 $15,890,066,221 $11,857,030,367
2017 $14,106,955,615 $10,324,668,271
2016 $12,833,363,045 $8,595,955,222
2015 $11,832,159,316 $8,794,201,743
2014 $13,943,016,077 $8,778,473,373
2013 $13,444,300,486 $8,376,613,539
2012 $12,561,015,157 $7,638,044,557
2011 $12,080,295,978 $6,785,137,203
2010 $10,109,619,741 $6,853,467,146
2009 $9,450,696,873 $6,716,905,340
2008 $9,451,435,490 $6,964,179,983
2007 $7,625,722,837 $6,281,918,226
2006 $6,547,419,820 $4,220,019,845
2005 $6,146,353,173 $4,282,468,637
2004 $5,451,688,538 $5,300,767,961
2003 $4,740,768,143 $5,025,167,975
2002 $3,622,350,063 $4,301,608,753
2001 $3,190,371,081 $4,125,527,603
2000 $2,968,370,088 $4,367,458,867
1999 $3,389,566,713 $5,046,806,783
1998 $2,804,902,367 $5,232,118,046
1997 $2,447,669,102 $5,516,916,163
1996 $2,586,550,595 $5,641,243,100
1995 $2,379,517,975 $5,385,704,166
1994 $1,895,290,637 $4,932,800,407
1993 $3,199,536,465 $4,781,166,117
1992 $3,356,692,505 $4,789,220,417
1991 $3,135,045,584 $4,396,178,694
1990 $3,101,300,779 $3,888,320,666
1989 $2,615,587,734 $3,546,079,263
1988 $2,616,040,479 $3,476,480,303
1987 $2,369,834,950 $2,976,714,019
1986 $2,036,303,358 $2,909,130,355
1985 $1,552,493,196 $22,787,644,566
1984 $1,459,880,132 $18,421,497,251
1983 $1,600,278,605 $15,129,893,722
1982 $1,754,450,096 $11,926,032,493
1981 $1,775,842,334 $9,646,440,667
1980 $1,928,719,888 $9,746,524,915
1979 $1,748,480,621 $8,877,094,497
1978 $1,475,583,645 $8,087,305,999
1977 $1,131,224,878 $6,914,381,291
1976 $976,547,188 $6,762,781,871
1975 $939,972,703 $6,102,769,605
1974 $751,133,430 $5,691,417,541
1973 $674,773,570 $5,152,080,388
1972 $578,595,522 $4,203,069,035
1971 $482,411,179 $3,594,302,908
1970 $458,404,269 $3,220,224,608
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/guinea | CC BY

GDP per capita in Burkina Faso vs Guinea by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $1,695 $4,565
2023 $873 $2,759 $1,555 $4,334
2022 $827 $2,645 $1,417 $4,062
2021 $896 $2,486 $1,245 $3,739
2020 $825 $2,381 $1,054 $3,332
2019 $765 $2,232 $1,031 $3,106
2018 $777 $2,073 $933 $2,844
2017 $709 $2,042 $834 $2,687
2016 $664 $1,882 $712 $2,255
2015 $630 $1,692 $747 $1,930
2014 $765 $1,661 $765 $1,873
2013 $760 $1,643 $748 $1,842
2012 $731 $1,572 $699 $1,790
2011 $725 $1,531 $637 $1,705
2010 $625 $1,449 $659 $1,622
2009 $602 $1,360 $662 $1,567
2008 $619 $1,351 $704 $1,614
2007 $515 $1,290 $650 $1,558
2006 $456 $1,244 $447 $1,453
2005 $441 $1,172 $463 $1,422
2004 $404 $1,079 $585 $1,366
2003 $362 $1,038 $566 $1,328
2002 $285.7 $974 $496 $1,315
2001 $259.5 $948 $483 $1,251
2000 $248.9 $896 $518 $1,196
1999 $292.8 $886 $611 $1,163
1998 $249.5 $838 $647 $1,130
1997 $223.9 $794 $696 $1,099
1996 $242.7 $753 $726 $1,048
1995 $229.1 $684 $713 $1,014
1994 $187.2 $650 $672 $976
1993 $324 $644 $671 $947
1992 $349 $623 $693 $908
1991 $334 $623 $656 $887
1990 $339 $567 $604 $871
1989 $293.2 - $570 -
1988 $301 - $574 -
1987 $280.2 - $505 -
1986 $247.5 - $506 -
1985 $194.1 - $4,062 -
1984 $187.8 - $3,362 -
1983 $211.9 - $2,823 -
1982 $239 - $2,273 -
1981 $248.7 - $1,876 -
1980 $277.6 - $1,931 -
1979 $258.5 - $1,790 -
1978 $223.9 - $1,658 -
1977 $176 - $1,440 -
1976 $155.5 - $1,431 -
1975 $152.9 - $1,311 -
1974 $124.7 - $1,243 -
1973 $114.1 - $1,143 -
1972 $99.6 - $948 -
1971 $84.5 - $825 -
1970 $81.7 - $753 -
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/guinea | CC BY

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $1,695 in Guinea, ranking 160/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while Guinea ranks 161st at $4,565.

Economic indicators

Burkina Faso Guinea
Gross domestic product
$23.1B
2024
$25B
2024
GDP rank
122/197
2024
118/197
2024
GDP growth
4.8%
2023-2024
5.35%
2023-2024
GDP per capita
$982
2024
$1,695
2024
GDP per capita rank
180/197
2024
160/197
2024
GDP per capita, PPP
$2,896
2024
$4,565
2024
GDP per capita PPP rank
181/197
2024
161/197
2024
Government debt
$13.2B
2024
$12.2B
2024
Debt-to-GDP ratio
57.2%
2024
48.8%
2024
Government debt per person
$562
2024
$828
2024
Government debt per person rank
162/185
2024
147/185
2024
Average annual personal income after taxes
$2,710
2026
$20,020
2026
Income share by richest 10%
30.2%
2021
23.1%
2018
Income share by poorest 10%
3%
2021
3.5%
2018
Government expenditure, % of GDP
27.8%
2024
20.6%
2024
Consumer prices inflation
4.19%
2023-2024
4.7%
2023-2024
Unemployment rate
3.44%
2024
5.02%
2019
Population
24756783
15546235

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Guinea
Spending

Debt
1x
Year % of GDP
Burkina Faso Guinea
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 20.6% 48.8%
2023 29.4% 56.8% 18.3% 40.4%
2022 32.9% 59.2% 15.7% 37.9%
2021 27.8% 55.5% 15.1% 40.6%
2020 24.4% 43.6% 17.1% 45.3%
2019 23.3% 41.7% 14.9% 37.3%
2018 24.2% 38.1% 15.9% 37.5%
2017 26.3% 33.9% 17.3% 39.9%
2016 21.6% 32.9% 16.1% 40.6%
2015 20.4% 31.3% 21.7% 41.5%
2014 20.9% 26.1% 20.1% 32.1%
2013 25.3% 25.9% 18.6% 30.5%
2012 22.7% 25.2% 19.6% 26.9%
2011 20.4% 24.5% 16% 53.8%
2010 21.7% 23.7% 20.5% 71.1%
2009 21.5% 25.9% 16.2% 61.3%
2008 18.6% 24.9% 10.1% 58.5%
2007 22.8% 22.4% 8.66% 60.8%
2006 21.9% 20.1% 13.2% 95.2%
2005 20.2% 39.2% 11% 97.9%
2004 20.3% 40.7% 13% 86.9%
2003 17.6% 39.7% 14.7% 81.6%
2002 19.5% 43.3% 14.4% 82.6%
2001 19.7% 46.6% 14.9% 90.4%
2000 19.8% 47.5% 12.6% 91.5%
1999 21.4% 46.4% 11.6% 92.3%
1998 19.7% 47.7% 10.3% 75.9%
1997 20% 48.4% 12.6% 67.9%
1996 19.8% 45.8% 12% 67.7%
1995 19.4% 48.9% 12.7% 66.5%
1994 17.8% 55.1% 12.6% 71.3%
1993 17.9% 33.6% 13.3% 68.9%
1992 16.7% 29.6% 13.8% 62%
1991 17% 28.7% 16.3% 70.9%
1990 18.4% 25.6% 18.7% 71.6%
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/guinea | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while Guinea spent $5.14B, or 20.6% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 48.8% in Guinea, ranking 89/185 and 111/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Guinea
1x
Year Deficit/surplus, % of GDP
Burkina Faso Guinea
2024 -5.84% -4.99%
2023 -6.91% -3.86%
2022 -10.9% -1.88%
2021 -7.45% -1.7%
2020 -5.16% -3.08%
2019 -3.39% -0.17%
2018 -4.43% -0.97%
2017 -6.92% -1.98%
2016 -3.08% -0.08%
2015 -2.09% -6.53%
2014 -1.74% -3.01%
2013 -3.55% -3.86%
2012 -2.76% 23.7%
2011 -2.04% -0.92%
2010 -4.06% -9.66%
2009 -4.16% -4.87%
2008 -3.63% 0.38%
2007 -5.01% 1.28%
2006 14.3% -2.13%
2005 -4.89% -1.06%
2004 -4.19% -3.85%
2003 -1.79% -4.65%
2002 -4.43% -3.37%
2001 -3.56% -3.23%
2000 -3.03% -2.42%
1999 -3.29% -1.3%
1998 -2.6% 2.46%
1997 -2.64% 0.07%
1996 -1.67% -2.2%
1995 -2.65% -1.07%
1994 -1.89% -2.59%
1993 -3.81% -2.33%
1992 -2.51% -0.89%
1991 -2.77% -3.25%
1990 -7.54% -3.76%
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/guinea | 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 Guinea's deficit of $1.25B, or 4.99% of GDP.

Over the past 35 years, Burkina Faso recorded a fiscal deficit in 34 of those years, while Guinea ran a deficit in 30 years. On average, Burkina Faso posted an annual deficit equal to 3.49% of GDP, compared to deficit of 1.65% of GDP for Guinea.

Inflation comparison by year

Inflation
Burkina Faso

Guinea
1x
Year Consumer prices inflation
Burkina Faso Guinea
2024 4.19% 4.7%
2023 0.74% 5.4%
2022 14.3% 10.5%
2021 3.65% 12.6%
2020 1.88% 10.6%
2019 -3.23% 9.5%
2018 1.96% 9.8%
2017 1.48% 8.9%
2016 0.44% 8.2%
2015 0.72% 8.2%
2014 -0.26% 9.7%
2013 0.53% 11.9%
2012 3.82% 15.2%
2011 2.76% 21.4%
2010 -0.76% 15.5%
2009 2.61% 4.7%
2008 10.7% 18.4%
2007 -0.23% 22.9%
2006 2.33% 34.7%
2005 6.42% 31.4%
2004 -0.4% 17.5%
2003 2.03% 11%
2002 2.18% 3%
2001 5.01% 5.4%
2000 -0.3% 6.8%
1999 -1.07% 4.6%
1998 5.08% 5.1%
1997 2.32% 1.9%

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/guinea | CC BY

Over the past 28 years, Burkina Faso has recorded an average annual inflation rate of 2.46%, compared with 11.8% in Guinea. In 2024, inflation was 4.19% in Burkina Faso and 4.7% in Guinea.

Top exports between countries

Burkina Faso
Export category Export value
Machinery & equipment $4.3M
Weapons & explosives $2.54M
Raw agricultural goods $796K
Textiles & consumer goods $622K
Processed food, beverages & tobacco $318K
Chemicals & pharma $111K
Metals $95K
Raw materials & minerals $60K
Wood & paper products $10K
Guinea
Export category Export value
Machinery & equipment $2.3M
Chemicals & pharma $1.32M
Miscellaneous $64K
Raw materials & minerals $30K
Textiles & consumer goods $5K
Metals $3K

Balance of trade

Burkina Faso Guinea
Current account balance
-$1.02B
2023
-$392M
2024
Current account balance ranking
122/190
2023
104/190
2024
Current account balance, % of GDP
-5.06%
2023
-1.57%
2024
Goods imports
$5.38B
2023
$7.08B
2024
Goods exports
$5.29B
2023
$11.6B
2024
Service imports
$1.45B
2023
$3.15B
2024
Service exports
$621M
2023
$71.2M
2024
Imports of goods and services, % of GDP
31.9%
2024
56.4%
2024
Exports of goods and services, % of GDP
28.6%
2024
41.4%
2024

Economic freedom indices

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

Burkina Faso Guinea
Economic freedom 49.1 53.1
Economic freedom ranking 167/197 141/197
Property rights 17.6 21.3
Government integrity 40.2 26.7
Judicial effectiveness 26.1 26
Tax burden 80.8 70.1
Government spending 72.9 90.1
Fiscal health 13.4 74.8
Business freedom 37.8 44.8
Labor freedom 62.1 56.4
Monetary freedom 71.9 75.3
Trade freedom 61 61.8
Investment freedom 65 50
Financial freedom 40 40

Economic freedom comparison by year

Burkina Faso
Guinea
1x
Year Economic freedom index
Burkina Faso Guinea
2026 49.1 53.1
2025 51 54.6
2024 51.9 53.3
2023 56.2 53.2
2022 58.3 54.2
2021 56.5 56.5
2020 56.7 56.5
2019 59.4 55.7
2018 60 52.2
2017 59.6 47.6
2016 59.1 53.3
2015 58.6 52.1
2014 58.9 53.5
2013 59.9 51.2
2012 60.6 50.8
2011 60.6 51.7
2010 59.4 51.8
2009 59.5 51
2008 55.7 52.8
2007 55.1 54.5
2006 55.8 52.8
2005 56.6 57.4
2004 58 56.1
2003 58.9 54.6
2002 58.8 52.9
2001 56.7 58.4
2000 55.7 58.2
1999 55 59.4
1998 54.5 61
1997 54 52.9
1996 49.4 58.5
1995 - 59.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 53.1 for Guinea, ranking 141/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Guinea
Services, % of GDP
43.9%
2024
36.3%
2024
Industry, % of GDP
26.5%
2024
25.1%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
31%
2024
GNI, Atlas method
$20.1B
2024
$21.3B
2024
GNI per capita, PPP
$2,720
2024
$4,130
2024
Total reserves including gold n/a
$1.89B
2023
Total reserves ranking n/a
128/177
2023
Net foreign direct investment
-$64.3M
2023
-$1.4B
2024
Net inflows of foreign direct investment
$82.9M
2024
$1.4B
2024
Net outflows of foreign direct investment
$2.73M
2024
$30K
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
1.94%
2024
Poverty at national poverty lines
43.2%
2021
47%
2020
Gross capital formation, % of GDP
21.9%
2024
32.1%
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/guinea | 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 (1995–2026, 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 (2016–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.