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Burkina Faso vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Burkina Faso ranked 129th with $14.1B. By GDP 5-years average growth and GDP per capita, South Korea and Burkina Faso ranked 93rd vs 28th and 33rd vs 184th, respectively.

Gross Domestic Product & Income

StatBurkina FasoSouth Korea
GDP$14.1B$1.6T
GDP growth, 1 year6%2.7%
GDP growth, 5-years average5.3%3%
Population19.2M51.1M
GDP per capita$715$31k
GDP per capita growth3.81%2.33%
Purchasing Power Parity conversion factor200.22860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.360.78
GDP per capita, PPP adjusted$2k$41k
GNI, Atlas method$13.3B$1.6T
GNI per capita$670$31k
GNI, PPP adjusted$38.9B$2.1T
GNI per capita, PPP adjusted$2k$40k

Financial system and Human development

StatBurkina FasoSouth Korea
Income Tax Rate27.5%42%
Corporate Tax Rate28%25%
Inflation, consumer prices2%1.5%
Inflation, GDP deflator2.4%0.3%
Unemployment6.1%3.8%
Economic Freedom Index56.774
Personal Freedom Index7.638.84
Human Freedom Index6.848.15
Property Rights Index46.982.5
Judical Effectiveness Index42.661
Business Freedom Index47.690.5
Fiscal Health Index49.296.7
Labor Freedom Index52.156.2
Investment Freedom Index6570
Financial Freedom Index4070
Trade Freedom Index61.880
Monetary Freedom Index82.482.1
Government Spending Index7767.7
Tax Burden Index81.363.9
Government Integrity Index34.167.5
Corruption Perceptions Index4157
Life expectancy at birth, years60.882.6
Suicide mortality rate, per 100,000 people7.726.9
Mortality caused by road traffic injury, per 100,000 people30.59.8
Intentional homicides, per 100,000 people1.30.6
International tourism, number of arrivals144k15.3M

Government debt & reserves

StatBurkina FasoSouth Korea
Central government debt, % of GDP43%40.7%
External debt stocks, % of GNI23.4%N/A
External debt stocks$3.3BN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary income3.5%N/A
Adjusted net savings including particulate emission damage, % of GNI-9%20.1%
Gross savings, % of GDP19.1%34.7%
Gross capital formation, % of GDP24.7%30.2%
Total reserves including goldN/A$403.1B
Foreign direct investment net inflows$480M$14.5B

Exports, imports and economic structure

StatBurkina FasoSouth Korea
Exports of goods and services, % of GDP30.8%44%
Imports of goods and services, % of GDP37.2%39%
Current account balance (balance of payments)-$894.1M$76.4B
Revenue excluding grants, % of GDP18.9%27.8%
Grants excluding technical cooperation, BoP$720.7M$6.7M
Personal remittances received$455.7M$7.1B
Industry including construction value added, % of GDP19.5%35.1%
Agriculture, forestry and fishing value added, % of GDP28%2%
Charges for the use of intellectual property, payments BoP$438k$9.9B
Charges for the use of intellectual property, receipts BoP$725k$7.8B
Expense, % of GDP19.5%25.4%
Government Expenditure, % of GDP27.7%32.8%

Compare with countries close by GDP per capita

Burkina Faso vs

CountryGDP
per capita
Population
Kyrgyzstan
$1.3k
6.2M
Mauritania
$1.2k
3.54M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
26.2M
Benin
$902
10M
Mali
$900
18.5M
Guinea
$879
11.6M
Haiti
$868
10.3M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Guinea-Bissau
$778
1.52M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
11M
Gambia
$716
1.86M
Togo
$679
6.34M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
22.9M
Afghanistan
$521
34.9M
Mozambique
$499
25.8M
Central African Republic
$476
4.99M
Niger
$414
17.1M
Malawi
$389
18.6M
Somalia
$315
11M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k