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Economy of Burkina Faso vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $93.3B for Luxembourg, ranking 122/197 and 74/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Burkina Faso vs Luxembourg GDP by year

Burkina Faso
Luxembourg
1x
Year GDP, current $
Burkina Faso Luxembourg
2024 $23,124,729,853 $93,279,851,863
2023 $20,112,614,449 $88,788,881,539
2022 $18,622,421,395 $80,801,680,397
2021 $19,697,516,284 $86,386,759,695
2020 $17,725,010,533 $73,670,782,100
2019 $16,032,813,503 $69,872,035,114
2018 $15,890,066,221 $71,085,623,495
2017 $14,106,955,615 $65,712,180,343
2016 $12,833,363,045 $62,216,885,436
2015 $11,832,159,316 $60,071,584,216
2014 $13,943,016,077 $68,804,811,898
2013 $13,444,300,486 $65,203,276,467
2012 $12,561,015,157 $59,776,383,527
2011 $12,080,295,978 $61,696,281,326
2010 $10,109,619,741 $56,213,985,987
2009 $9,450,696,873 $54,467,289,898
2008 $9,451,435,490 $58,844,277,702
2007 $7,625,722,837 $51,587,401,416
2006 $6,547,419,820 $42,910,146,296
2005 $6,146,353,173 $37,672,280,120
2004 $5,451,688,538 $35,064,843,793
2003 $4,740,768,143 $29,667,268,248
2002 $3,622,350,063 $23,649,833,332
2001 $3,190,371,081 $21,387,533,703
2000 $2,968,370,088 $21,230,182,989
1999 $3,389,566,713 $21,899,317,599
1998 $2,804,902,367 $20,150,053,345
1997 $2,447,669,102 $19,563,836,265
1996 $2,586,550,595 $20,895,314,658
1995 $2,379,517,975 $20,853,093,870
1994 $1,895,290,637 $17,701,798,891
1993 $3,199,536,465 $15,925,521,222
1992 $3,356,692,505 $15,518,702,635
1991 $3,135,045,584 $13,834,219,728
1990 $3,101,300,779 $12,778,792,854
1989 $2,615,587,734 $10,037,674,038
1988 $2,616,040,479 $9,418,167,855
1987 $2,369,834,950 $8,320,902,215
1986 $2,036,303,358 $6,685,595,088
1985 $1,552,493,196 $4,577,211,767
1984 $1,459,880,132 $4,438,435,493
1983 $1,600,278,605 $4,524,217,751
1982 $1,754,450,096 $4,602,316,793
1981 $1,775,842,334 $5,053,665,797
1980 $1,928,719,888 $6,019,805,490
1979 $1,748,480,621 $5,516,982,664
1978 $1,475,583,645 $4,718,539,772
1977 $1,131,224,878 $3,789,321,328
1976 $976,547,188 $3,423,586,207
1975 $939,972,703 $3,123,333,333
1974 $751,133,430 $3,183,637,117
1973 $674,773,570 $2,609,875,802
1972 $578,595,522 $1,901,697,370
1971 $482,411,179 $1,518,773,421
1970 $458,404,269 $1,457,768,455
1969 $478,298,645 $1,245,432,991
1968 $460,442,689 $1,075,561,623
1967 $450,753,924 $983,052,315
1966 $433,889,766 $976,717,015
1965 $422,916,790 $929,477,285
1964 $410,321,645 $910,877,686
1963 $394,040,667 $797,902,154
1962 $379,567,099 $747,846,862
1961 $350,247,234 $710,163,719
1960 $330,442,816 $709,941,874

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

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

GDP per capita in Burkina Faso vs Luxembourg by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $137,782 $155,941
2023 $873 $2,759 $133,231 $150,508
2022 $827 $2,645 $123,720 $146,919
2021 $896 $2,486 $134,966 $136,772
2020 $825 $2,381 $116,860 $122,067
2019 $765 $2,232 $112,697 $121,372
2018 $777 $2,073 $116,927 $116,638
2017 $709 $2,042 $110,193 $114,986
2016 $664 $1,882 $106,899 $113,365
2015 $630 $1,692 $105,462 $107,860
2014 $765 $1,661 $123,679 $105,296
2013 $760 $1,643 $120,000 $100,925
2012 $731 $1,572 $112,585 $96,636
2011 $725 $1,531 $119,025 $94,475
2010 $625 $1,449 $110,886 $90,336
2009 $602 $1,360 $109,420 $86,919
2008 $619 $1,351 $120,422 $90,971
2007 $515 $1,290 $107,475 $85,126
2006 $456 $1,244 $90,789 $78,861
2005 $441 $1,172 $80,988 $68,788
2004 $404 $1,079 $76,545 $64,686
2003 $362 $1,038 $65,689 $60,192
2002 $285.7 $974 $53,006 $58,576
2001 $259.5 $948 $48,440 $56,136
2000 $248.9 $896 $48,660 $55,136
1999 $292.8 $886 $50,872 $49,845
1998 $249.5 $838 $47,445 $44,270
1997 $223.9 $794 $46,642 $42,488
1996 $242.7 $753 $50,444 $39,722
1995 $229.1 $684 $51,032 $38,345
1994 $187.2 $650 $43,933 $37,551
1993 $324 $644 $40,067 $35,899
1992 $349 $623 $39,571 $34,108
1991 $334 $623 $35,747 $33,191
1990 $339 $567 $33,465 $29,949
1989 $293.2 - $26,618 -
1988 $301 - $25,219 -
1987 $280.2 - $22,443 -
1986 $247.5 - $18,150 -
1985 $194.1 - $12,482 -
1984 $187.8 - $12,127 -
1983 $211.9 - $12,374 -
1982 $239 - $12,591 -
1981 $248.7 - $13,837 -
1980 $277.6 - $16,531 -
1979 $258.5 - $15,204 -
1978 $223.9 - $13,034 -
1977 $176 - $10,486 -
1976 $155.5 - $9,491 -
1975 $152.9 - $8,701 -
1974 $124.7 - $8,967 -
1973 $114.1 - $7,447 -
1972 $99.6 - $5,487 -
1971 $84.5 - $4,435 -
1970 $81.7 - $4,298 -
1969 $86.8 - $3,690 -
1968 $85 - $3,203 -
1967 $84.6 - $2,935 -
1966 $82.8 - $2,925 -
1965 $82.1 - $2,804 -
1964 $80.9 - $2,779 -
1963 $78.9 - $2,462 -
1962 $77.2 - $2,332 -
1961 $72.2 - $2,241 -
1960 $69.2 - $2,261 -

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

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

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while Luxembourg ranks 1st at $155,941.

Economic indicators

Burkina Faso Luxembourg
Gross domestic product
$23.1B
2024
$93.3B
2024
GDP rank
122/197
2024
74/197
2024
GDP growth
4.8%
2023-2024
0.36%
2023-2024
GDP per capita
$982
2024
$137,782
2024
GDP per capita rank
180/197
2024
3/197
2024
GDP per capita, PPP
$2,896
2024
$155,941
2024
GDP per capita PPP rank
181/197
2024
1/197
2024
Government debt
$13.2B
2024
$24.5B
2024
Debt-to-GDP ratio
57.2%
2024
26.3%
2024
Government debt per person
$562
2024
$36,221
2024
Government debt per person rank
162/185
2024
19/185
2024
Average annual personal income after taxes
$2,710
2026
$69,593
2026
Market capitalization of domestic companies n/a
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
30.2%
2021
25%
2023
Income share by poorest 10%
3%
2021
2.8%
2023
Government expenditure, % of GDP
27.8%
2024
46.9%
2024
Consumer prices inflation
4.19%
2023-2024
2.05%
2023-2024
Unemployment rate
3.44%
2024
6.42%
2024
Population
24756783
693885

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Burkina Faso Luxembourg
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 46.9% 26.3%
2023 29.4% 56.8% 46.4% 24.7%
2022 32.9% 59.2% 44.3% 24.9%
2021 27.8% 55.5% 42.4% 24.2%
2020 24.4% 43.6% 47% 24.5%
2019 23.3% 41.7% 43.1% 22.3%
2018 24.2% 38.1% 42.3% 20.9%
2017 26.3% 33.9% 41.3% 21.8%
2016 21.6% 32.9% 40% 19.6%
2015 20.4% 31.3% 40.4% 21.1%
2014 20.9% 26.1% 40.6% 21.9%
2013 25.3% 25.9% 41.2% 22.4%
2012 22.7% 25.2% 41.8% 20.8%
2011 20.4% 24.5% 41.5% 18.5%
2010 21.7% 23.7% 42% 19.1%
2009 21.5% 25.9% 42.7% 15.3%
2008 18.6% 24.9% 37.9% 14.6%
2007 22.8% 22.4% 37.4% 8.09%
2006 21.9% 20.1% 39.4% 8.21%
2005 20.2% 39.2% 43.4% 7.95%
2004 20.3% 40.7% 43.7% 7.83%
2003 17.6% 39.7% 43.3% 7.43%
2002 19.5% 43.3% 41.8% 7.45%
2001 19.7% 46.6% 38.1% 7.62%
2000 19.8% 47.5% 38% 7.49%
1999 21.4% 46.4% 41.7% 8.39%
1998 19.7% 47.7% 43.9% 9.51%
1997 20% 48.4% 44.2% 10.1%
1996 19.8% 45.8% 42.5% 10.2%
1995 19.4% 48.9% 42% 10.3%
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/luxembourg | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 26.3% in Luxembourg, ranking 89/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Luxembourg
1x
Year Deficit/surplus, % of GDP
Burkina Faso Luxembourg
2024 -5.84% 1.03%
2023 -6.91% -0.78%
2022 -10.9% 0.18%
2021 -7.45% 1%
2020 -5.16% -3.09%
2019 -3.39% 2.68%
2018 -4.43% 3.17%
2017 -6.92% 1.37%
2016 -3.08% 1.89%
2015 -2.09% 1.3%
2014 -1.74% 1.33%
2013 -3.55% 0.84%
2012 -2.76% 0.5%
2011 -2.04% 0.65%
2010 -4.06% -0.26%
2009 -4.16% -0.21%
2008 -3.63% 3.37%
2007 -5.01% 4.35%
2006 14.3% 1.9%
2005 -4.89% -0.21%
2004 -4.19% -1.39%
2003 -1.79% 0.28%
2002 -4.43% 2.03%
2001 -3.56% 5.62%
2000 -3.03% 5.55%
1999 -3.29% 3.24%
1998 -2.6% 2.98%
1997 -2.64% 2.65%
1996 -1.67% 2.37%
1995 -2.65% 2.71%
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/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 30 years, Burkina Faso recorded a fiscal deficit in 29 of those years, while Luxembourg ran a deficit in 6 years. On average, Burkina Faso posted an annual deficit equal to 3.45% of GDP, compared to surplus of 1.57% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Burkina Faso

Luxembourg
1x
Year Consumer prices inflation
Burkina Faso Luxembourg
2024 4.19% 2.05%
2023 0.74% 3.74%
2022 14.3% 6.34%
2021 3.65% 2.53%
2020 1.88% 0.82%
2019 -3.23% 1.74%
2018 1.96% 1.53%
2017 1.48% 1.73%
2016 0.44% 0.29%
2015 0.72% 0.47%
2014 -0.26% 0.63%
2013 0.53% 1.73%
2012 3.82% 2.66%
2011 2.76% 3.41%
2010 -0.76% 2.27%
2009 2.61% 0.37%
2008 10.7% 3.4%
2007 -0.23% 2.31%
2006 2.33% 2.67%
2005 6.42% 2.49%
2004 -0.4% 2.23%
2003 2.03% 2.05%
2002 2.18% 2.07%
2001 5.01% 2.66%
2000 -0.3% 3.15%
1999 -1.07% 1.03%
1998 5.08% 0.96%
1997 2.32% 1.37%

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

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

Over the past 28 years, Burkina Faso has recorded an average annual inflation rate of 2.46%, compared with 2.1% in Luxembourg. In 2024, inflation was 4.19% in Burkina Faso and 2.05% in Luxembourg.

Top exports between countries

Burkina Faso
Export category Export value
Luxembourg
Export category Export value
Machinery & equipment $19.8M
Raw materials & minerals $1.25M
Chemicals & pharma $221K
Metals $72K
Wood & paper products $50K
Textiles & consumer goods $31K
Miscellaneous $3K
Processed food, beverages & tobacco $1K

Balance of trade

Burkina Faso Luxembourg
Current account balance
-$1.02B
2023
$4.1B
2024
Current account balance ranking
122/190
2023
35/190
2024
Current account balance, % of GDP
-5.06%
2023
+4.4%
2024
Goods imports
$5.38B
2023
$29.4B
2024
Goods exports
$5.29B
2023
$31.3B
2024
Service imports
$1.45B
2023
$117B
2024
Service exports
$621M
2023
$150B
2024
Imports of goods and services, % of GDP
31.9%
2024
159.7%
2024
Exports of goods and services, % of GDP
28.6%
2024
191.5%
2024

Economic freedom indices

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

Burkina Faso Luxembourg
Economic freedom 49.1 79.7
Economic freedom ranking 167/197 7/197
Property rights 17.6 96.6
Government integrity 40.2 88.7
Judicial effectiveness 26.1 99.1
Tax burden 80.8 62.3
Government spending 72.9 36.9
Fiscal health 13.4 98.6
Business freedom 37.8 89.5
Labor freedom 62.1 56.7
Monetary freedom 71.9 74.1
Trade freedom 61 79.4
Investment freedom 65 95
Financial freedom 40 80

Economic freedom comparison by year

Burkina Faso
Luxembourg
1x
Year Economic freedom index
Burkina Faso Luxembourg
2026 49.1 79.7
2025 51 79.5
2024 51.9 79.2
2023 56.2 78.4
2022 58.3 80.6
2021 56.5 76
2020 56.7 75.8
2019 59.4 75.9
2018 60 76.4
2017 59.6 75.9
2016 59.1 73.9
2015 58.6 73.2
2014 58.9 74.2
2013 59.9 74.2
2012 60.6 74.5
2011 60.6 76.2
2010 59.4 75.4
2009 59.5 75.2
2008 55.7 74.7
2007 55.1 74.6
2006 55.8 75.3
2005 56.6 76.3
2004 58 78.9
2003 58.9 79.9
2002 58.8 79.4
2001 56.7 80.1
2000 55.7 76.4
1999 55 72.4
1998 54.5 72.7
1997 54 72.8
1996 49.4 72.5

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

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

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Luxembourg
Services, % of GDP
43.9%
2024
81.2%
2024
Industry, % of GDP
26.5%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
0.21%
2024
GNI, Atlas method
$20.1B
2024
$57.3B
2024
GNI per capita, PPP
$2,720
2024
$110,650
2024
Total reserves including gold n/a
$2.79B
2024
Total reserves ranking n/a
119/177
2024
Net foreign direct investment
-$64.3M
2023
$21.4B
2024
Net inflows of foreign direct investment
$82.9M
2024
$106B
2024
Net outflows of foreign direct investment
$2.73M
2024
$109B
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
n/a
Poverty at national poverty lines
43.2%
2021
17.3%
2021
Gross capital formation, % of GDP
21.9%
2024
15.8%
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/luxembourg | CC BY

Compare countries by 7 more topics

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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 (2023–2024, 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.