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Library Burkina Faso : The Challenge of Export Diversification for a Landlocked Country

Burkina Faso : The Challenge of Export Diversification for a Landlocked Country

Burkina Faso : The Challenge of Export Diversification for a Landlocked Country

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Date of publication
June 2012
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ISBN / Resource ID

The objective of the Diagnostic Trade
Integration Study (DTIS) is to build the foundation for
accelerated growth by enhancing the integration of its
economy into regional and global markets. Burkina Faso is
one of the best economic performers in West Africa, yet its
integration into the world economy, as measured by its trade
and foreign investment performance, is among the lowest.
Economic growth has been strong, higher than all other
countries in the sub-region. This has been achieved in spite
of droughts and cricket invasions, and the turmoil in Cote
d'Ivoire, and without significant oil or mining
exports. Macroeconomic management has been consistently
strong, and inflation low. At the same time, its export to
gross domestic product (GDP) ratio is only one-third that of
Senegal or Mali, while foreign directs investment inflows
are far below the average for sub-Saharan Africa. At a time
when globalization is determining the fate of nations,
Burkina Faso seems to be on the sidelines and doing fairly
well. If the country is to raise economic growth rates to
the levels necessary to make major inroads on poverty, and
reduce its aid dependence, it will need to improve its
performance on exports and foreign investment.
Implementation of a weighing program to fight against
overloading of merchandise, coordinated along all the
corridors.The challenge for Burkina Faso is to step up
efforts to consolidate this sound performance in order to
accelerate growth and deepen the fight against poverty.
These efforts will be deployed on three fronts. The first
consists in maintaining macroeconomic stability to improve
the international competitiveness of the economy; the
second, diversifying exports to expand trade and stimulate
growth; and the third, strengthening social sectors and
small operators in order to make growth inclusive and to
maximize its impact on poverty reduction. This study focuses
on the second challenge, taking into account the importance
of participation by small operators.

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