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Economy of Burkina Faso vs Liberia compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $4.78B for Liberia, ranking 122/197 and 163/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

Burkina Faso vs Liberia GDP by year

Burkina Faso
Liberia
1x
Year GDP, current $
Burkina Faso Liberia
2024 $23,124,729,853 $4,779,300,900
2023 $20,112,614,449 $4,390,000,000
2022 $18,622,421,395 $4,001,047,000
2021 $19,697,516,284 $3,513,049,500
2020 $17,725,010,533 $3,176,126,300
2019 $16,032,813,503 $3,319,596,500
2018 $15,890,066,221 $3,422,754,800
2017 $14,106,955,615 $3,390,703,400
2016 $12,833,363,045 $3,398,419,600
2015 $11,832,159,316 $3,227,075,700
2014 $13,943,016,077 $3,225,652,000
2013 $13,444,300,486 $3,177,198,100
2012 $12,561,015,157 $2,791,614,000
2011 $12,080,295,978 $2,398,000,000
2010 $10,109,619,741 $1,998,000,000
2009 $9,450,696,873 $1,768,000,000
2008 $9,451,435,490 $1,726,000,000
2007 $7,625,722,837 $1,373,000,000
2006 $6,547,419,820 $1,119,000,000
2005 $6,146,353,173 $949,000,000
2004 $5,451,688,538 $897,000,000
2003 $4,740,768,143 $748,000,000
2002 $3,622,350,063 $927,000,000
2001 $3,190,371,081 $906,000,000
2000 $2,968,370,088 $874,000,000
1999 $3,389,566,713 $441,800,000
1998 $2,804,902,367 $359,600,000
1997 $2,447,669,102 $295,900,000
1996 $2,586,550,595 $159,400,000
1995 $2,379,517,975 $134,800,000
1994 $1,895,290,637 $132,200,000
1993 $3,199,536,465 $160,400,000
1992 $3,356,692,505 $223,500,000
1991 $3,135,045,584 $348,000,000
1990 $3,101,300,779 $384,400,000
1989 $2,615,587,734 $786,300,000
1988 $2,616,040,479 $1,038,300,000
1987 $2,369,834,950 $972,800,000
1986 $2,036,303,358 $840,964,400
1985 $1,552,493,196 $851,296,100
1984 $1,459,880,132 $848,478,300
1983 $1,600,278,605 $823,374,900
1982 $1,754,450,096 $863,933,200
1981 $1,775,842,334 $846,514,500
1980 $1,928,719,888 $854,711,500
1979 $1,748,480,621 $814,067,900
1978 $1,475,583,645 $717,240,400
1977 $1,131,224,878 $673,010,600
1976 $976,547,188 $596,675,700
1975 $939,972,703 $577,549,300
1974 $751,133,430 $486,955,000
1973 $674,773,570 $386,968,300
1972 $578,595,522 $368,098,000
1971 $482,411,179 $341,543,100
1970 $458,404,269 $323,099,700
1969 $478,298,645 $306,961,800
1968 $460,442,689 $276,820,700
1967 $450,753,924 $261,024,300
1966 $433,889,766 $244,459,500
1965 $422,916,790 $229,260,800
1964 $410,321,645 $218,929,100
1963 $394,040,667 $200,229,600
1962 $379,567,099 $191,861,800
1961 $350,247,234 $183,920,900
1960 $330,442,816 $190,495,600

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

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

GDP per capita in Burkina Faso vs Liberia by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $851 $1,871
2023 $873 $2,759 $799 $1,795
2022 $827 $2,645 $745 $1,692
2021 $896 $2,486 $668 $1,539
2020 $825 $2,381 $617 $1,660
2019 $765 $2,232 $658 $1,900
2018 $777 $2,073 $692 $1,800
2017 $709 $2,042 $699 $1,665
2016 $664 $1,882 $715 $1,490
2015 $630 $1,692 $693 $1,340
2014 $765 $1,661 $707 $1,419
2013 $760 $1,643 $711 $1,360
2012 $731 $1,572 $638 $1,157
2011 $725 $1,531 $568 $1,041
2010 $625 $1,449 $492 $980
2009 $602 $1,360 $448 $939
2008 $619 $1,351 $452 $915
2007 $515 $1,290 $374 $873
2006 $456 $1,244 $321 $815
2005 $441 $1,172 $287.5 $774
2004 $404 $1,079 $284.1 $745
2003 $362 $1,038 $239.8 $716
2002 $285.7 $974 $299.5 $1,013
2001 $259.5 $948 $300 $987
2000 $248.9 $896 $298.5 $965
1999 $292.8 $886 $156.6 $762
1998 $249.5 $838 $134.7 $652
1997 $223.9 $794 $122.6 $548
1996 $242.7 $753 $71.4 $282.2
1995 $229.1 $684 $62.1 $254.4
1994 $187.2 $650 $61.5 $262.6
1993 $324 $644 $74.4 $328
1992 $349 $623 $107.8 $497
1991 $334 $623 $177.9 $793
1990 $339 $567 $172.9 $787
1989 $293.2 - $312 -
1988 $301 - $424 -
1987 $280.2 - $409 -
1986 $247.5 - $364 -
1985 $194.1 - $380 -
1984 $187.8 - $390 -
1983 $211.9 - $391 -
1982 $239 - $422 -
1981 $248.7 - $426 -
1980 $277.6 - $443 -
1979 $258.5 - $435 -
1978 $223.9 - $394 -
1977 $176 - $381 -
1976 $155.5 - $347 -
1975 $152.9 - $346 -
1974 $124.7 - $299.4 -
1973 $114.1 - $244.4 -
1972 $99.6 - $238.6 -
1971 $84.5 - $227.1 -
1970 $81.7 - $220.3 -
1969 $86.8 - $214.7 -
1968 $85 - $198.6 -
1967 $84.6 - $192.2 -
1966 $82.8 - $184.6 -
1965 $82.1 - $177.6 -
1964 $80.9 - $173.9 -
1963 $78.9 - $163.1 -
1962 $77.2 - $160.3 -
1961 $72.2 - $157.5 -
1960 $69.2 - $167.2 -

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

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

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while Liberia ranks 188th at $1,871.

Economic indicators

Burkina Faso Liberia
Gross domestic product
$23.1B
2024
$4.78B
2024
GDP rank
122/197
2024
163/197
2024
GDP growth
4.8%
2023-2024
4.02%
2023-2024
GDP per capita
$982
2024
$851
2024
GDP per capita rank
180/197
2024
184/197
2024
GDP per capita, PPP
$2,896
2024
$1,871
2024
GDP per capita PPP rank
181/197
2024
188/197
2024
Government debt
$13.2B
2024
$2.73B
2024
Debt-to-GDP ratio
57.2%
2024
57.2%
2024
Government debt per person
$562
2024
$487
2024
Government debt per person rank
162/185
2024
167/185
2024
Average annual personal income after taxes
$2,710
2026
$1,191
2026
Income share by richest 10%
30.2%
2021
27.1%
2016
Income share by poorest 10%
3%
2021
2.9%
2016
Government expenditure, % of GDP
27.8%
2024
24.3%
2024
Consumer prices inflation
4.19%
2023-2024
8.2%
2023-2024
Unemployment rate
3.44%
2024
5.93%
2017
Population
24756783
5887000

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Burkina Faso Liberia
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 24.3% 57.2%
2023 29.4% 56.8% 27.1% 57.8%
2022 32.9% 59.2% 26.9% 54.3%
2021 27.8% 55.5% 29.8% 53.3%
2020 24.4% 43.6% 35.3% 58.7%
2019 23.3% 41.7% 32.3% 48.6%
2018 24.2% 38.1% 32.7% 37.1%
2017 26.3% 33.9% 35.1% 31.8%
2016 21.6% 32.9% 35.8% 28.6%
2015 20.4% 31.3% 37.1% 24.8%
2014 20.9% 26.1% 33.4% 24.3%
2013 25.3% 25.9% 27.4% 20.6%
2012 22.7% 25.2% 30.8% 20.5%
2011 20.4% 24.5% 30.1% 22.7%
2010 21.7% 23.7% 25.2% 25.6%
2009 21.5% 25.9% 23.7% 130.9%
2008 18.6% 24.9% 21.6% 233.1%
2007 22.8% 22.4% 17.2% 394%
2006 21.9% 20.1% 11.1% 472%
2005 20.2% 39.2% 12.8% 535%
2004 20.3% 40.7% 12.1% 543%
2003 17.6% 39.7% 9.85% 658%
2002 19.5% 43.3% 13.2% 481%
2001 19.7% 46.6% 12.6% 484%
2000 19.8% 47.5% 15.2% 489%
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/liberia | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 57.2% in Liberia, ranking 89/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Liberia
1x
Year Deficit/surplus, % of GDP
Burkina Faso Liberia
2024 -5.84% -1.98%
2023 -6.91% -7.03%
2022 -10.9% -5.33%
2021 -7.45% -2.5%
2020 -5.16% -4.02%
2019 -3.39% -4.92%
2018 -4.43% -4.7%
2017 -6.92% -7.14%
2016 -3.08% -3.83%
2015 -2.09% -3.74%
2014 -1.74% -4.92%
2013 -3.55% 1.29%
2012 -2.76% -2.86%
2011 -2.04% -4.43%
2010 -4.06% 1.17%
2009 -4.16% -1.39%
2008 -3.63% -2.68%
2007 -5.01% 2.44%
2006 14.3% 4.42%
2005 -4.89% -0.55%
2004 -4.19% -0.56%
2003 -1.79% 0.39%
2002 -4.43% -1.63%
2001 -3.56% -0.98%
2000 -3.03% -0.08%
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/liberia | 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 Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, Burkina Faso recorded a fiscal deficit in 24 of those years, while Liberia ran a deficit in 20 years. On average, Burkina Faso posted an annual deficit equal to 3.63% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
Burkina Faso

Liberia
1x
Year Consumer prices inflation
Burkina Faso Liberia
2024 4.19% 8.2%
2023 0.74% 10.1%
2022 14.3% 7.6%
2021 3.65% 7.8%
2020 1.88% 17%
2019 -3.23% 27%
2018 1.96% 23.5%
2017 1.48% 12.4%
2016 0.44% 8.8%
2015 0.72% 7.7%
2014 -0.26% 9.9%
2013 0.53% 7.6%
2012 3.82% 6.8%
2011 2.76% 8.5%
2010 -0.76% 7.3%
2009 2.61% 7.4%
2008 10.7% 17.5%
2007 -0.23% 11.4%
2006 2.33% 9.5%
2005 6.42% 6.9%
2004 -0.4% 3.6%
2003 2.03% 10.3%
2002 2.18% 14.2%
2001 5.01% 12.1%
2000 -0.3% 5.3%
1999 -1.07% 2%
1998 5.08% -
1997 2.32% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

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

Over the past 26 years, Burkina Faso has recorded an average annual inflation rate of 2.36%, compared with 10.4% in Liberia. In 2024, inflation was 4.19% in Burkina Faso and 8.2% in Liberia.

Top exports between countries

Burkina Faso
Export category Export value
Textiles & consumer goods $190K
Machinery & equipment $186K
Weapons & explosives $96K
Raw agricultural goods $81K
Processed food, beverages & tobacco $68K
Wood & paper products $53K
Metals $38K
Raw materials & minerals $12K
Chemicals & pharma $1K
Liberia
Export category Export value
Textiles & consumer goods $398K
Machinery & equipment $3K

Balance of trade

Burkina Faso Liberia
Current account balance
-$1.02B
2023
$64.8M
2022
Current account balance ranking
122/190
2023
73/190
2022
Current account balance, % of GDP
-5.06%
2023
+1.62%
2022
Goods imports
$5.38B
2023
$1.53B
2022
Goods exports
$5.29B
2023
$1.03B
2022
Service imports
$1.45B
2023
$434M
2022
Service exports
$621M
2023
$192M
2022
Imports of goods and services, % of GDP
31.9%
2024
n/a
Exports of goods and services, % of GDP
28.6%
2024
28.5%
2025

Economic freedom indices

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

Burkina Faso Liberia
Economic freedom 49.1 49.8
Economic freedom ranking 167/197 163/197
Property rights 17.6 40.4
Government integrity 40.2 25.8
Judicial effectiveness 26.1 23.4
Tax burden 80.8 86.1
Government spending 72.9 79.5
Fiscal health 13.4 56.9
Business freedom 37.8 38
Labor freedom 62.1 43.4
Monetary freedom 71.9 71.4
Trade freedom 61 57.4
Investment freedom 65 55
Financial freedom 40 20

Economic freedom comparison by year

Burkina Faso
Liberia
1x
Year Economic freedom index
Burkina Faso Liberia
2026 49.1 49.8
2025 51 48.5
2024 51.9 49.9
2023 56.2 49.6
2022 58.3 47.9
2021 56.5 49.2
2020 56.7 49
2019 59.4 49.7
2018 60 50.9
2017 59.6 49.1
2016 59.1 52.2
2015 58.6 52.7
2014 58.9 52.4
2013 59.9 49.3
2012 60.6 48.6
2011 60.6 46.5
2010 59.4 46.2
2009 59.5 48.1
2008 55.7 -
2007 55.1 -
2006 55.8 -
2005 56.6 -
2004 58 -
2003 58.9 -
2002 58.8 -
2001 56.7 -
2000 55.7 -
1999 55 -
1998 54.5 -
1997 54 -
1996 49.4 -

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

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

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Liberia
Services, % of GDP
43.9%
2024
41.9%
2024
Industry, % of GDP
26.5%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
33.8%
2024
GNI, Atlas method
$20.1B
2024
$4.28B
2024
GNI per capita, PPP
$2,720
2024
$1,750
2024
Total reserves including gold n/a
$600M
2022
Total reserves ranking n/a
153/177
2022
Net foreign direct investment
-$64.3M
2023
-$960M
2022
Net inflows of foreign direct investment
$82.9M
2024
$472M
2024
Net outflows of foreign direct investment
$2.73M
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
3.09%
2024
Poverty at national poverty lines
43.2%
2021
50.9%
2016
Gross capital formation, % of GDP
21.9%
2024
n/a

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/liberia | 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 (2020–2024, 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.