Economic Information

Note: 2013 data estimates in Canadian dollars ($CAD)
Source: IMF World Economic Outlook, World Bank Data, CIA World Factbook, Bank of Canada (Currency Conversion 17/06/2014)

Security

The Department of Foreign Affairs, Trade and Development Canada (DFATD) recommends that Canadians exercise a high degree of caution when traveling in Burkina Faso due to the threat of crime and armed banditry. While there is no national advisory in effect for Burkina Faso, DFATD advises against all non-essential travel north of the Djibo-Dori line up to the Mali and Niger borders due to the threat of banditry and kidnapping. For detailed and up-to-date information on travel security, please refer to the DFATD Travel Report for Burkina Faso.

Trade Information

Note: Data in thousands of Canadian dollars ($CAD). The large fluctuation in Burkina Faso exports to Canada has been driven by changes in export volumes of gold.
Source: Trade Data Online (Industry Canada), Trade Map (International Trade Centre), World Integrated Trade Solution (World Bank), United States Trade Representative

Excluding mineral products (HS2 Codes 26-27 and 71-80)
Source: International Trade Centre Trade Map

Excluding mineral products (HS2 Codes 26-27 and 71-80)
Source: Industry Canada Trade Data Online

Trade Opportunities

Trade is of high importance to the economic growth of Burkina Faso. The landlocked country has experienced a mining boom in recent years, leading to significant foreign private investment by Canadian companies. In 2009 gold outpaced cotton as Burkina Faso’s main export and now accounts for 20% of GDP. However, the global drop in gold prices of 2013 has tempered growth and exploration in the mining sector.

The value of trade between Canada and Burkina Faso expanded tremendously from 2009-2012, driven almost entirely by the importation of large quantities of gold which constituted 97-99% of Canadian imports during this period. However, lower prices drove down Canadian imports of gold from several million 2009-2012 to CAD $ 80,000 in 2013. Excluding gold, Canadian imports from Burkina Faso are modest but stable, consisting primarily of fresh produce, oils, and textile products.

1. Cotton & Textiles
The cotton manufacturing industry is one of Burkina Faso’s largest, and cotton based household textiles, clothing and apparel are already one of Canada’s main imports from the African country.  There remain great opportunities for Canadian businesses to expand their imports of high quality Burkinabe cotton products; most recently, Burkinabe cotton farmers have been shifting production towards organic cotton. Canadian businesses can also take advantage of an abundant supply of skilful and cheap labour by moving production to Burkina Faso.

2. Fresh & Processed Foods
Although the majority of Burkina Faso’s farmers are engaged in subsistence farming, there are a handful of import opportunities for agricultural products from Burkina Faso. These include tropical fruits such as guavas mangoes, which saw a surge in exports to Canada in 2013, as well as sugar, peanuts, shea nuts and sesame seeds. Of greater interest is the wealth of processed agricultural products that Burkinabe producers have to offer North American markets. The food processing industry is concentrated in Bobo-Dioulasso and specializes in products such as dried tropical fruits and vegetables, jams and marmalades, molasses, pulp, syrups, non-alcoholic beverages and concentrates.

3. Shea Butter & Pharmaceuticals
Some of Burkina Faso’s most popular exports are its shea butter based health and beauty products. These come in a variety of forms, including: soaps, lotions, creams, oils, body butters and lip balm. Recent innovations in the industry have allowed for the increased production of high quality products that meet North American safety and quality standards. There has been a shift across the country towards organic shea butter products, many of which are now certified by Ecocert Burkina Faso.

4. Jewellery, Handicrafts & Furniture
Burkina Faso has highly creative and talented artisans who can offer a number of arts and crafts products to Canadian importers. Handicrafts employ an estimated 960,000 people and account for 20% of the country’s GDP. Unique to Burkina Faso is an art form know as Calabash; artists must be extremely talented, dexterous, and steady handed in order to create these delicate and highly intricate pieces of decorative art.  Burkinabe jewellery is crafted out of gold, bronze, silver, amber, and a variety of other materials.  Designs created are becoming increasingly refined and elegant and Burkinabe crafted jewellery has been growing in popularity in North America. With the use of increasingly developed tools and technology, Burkinabe craftsmen also create a variety of useful and decorative pottery and ceramic products. In recent years, many Burkinabe craftsmen have begun putting their talents towards the design and creation of high quality and unique home furnishings.  These products offer Canadian businesses the opportunity to bring something unique to their North American customers.

Useful Links

Links to Cited Documents