Burundi
February 1, 2011 Leave a Comment
Failed States Index
Burundi
Low Per Capita Income
Burundi currently holds the world’s lowest GDP per capita value. Burundi’s GDP per capita clocks in at $162. The country is landlocked, it is found deep within the African continent. Much of Burundi’s low GDP per capita is attributed to landlocked geography. Burundi is a resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural with more than 90% of the population dependent on subsistence agriculture. Economic growth depends on coffee and tea exports, which account for 90% of foreign exchange earnings. The ability to pay for imports, therefore, rests primarily on weather conditions and international coffee and tea prices.
High Population Growth
Burundi also ranks fairly high in birth rates per 1,000 people. Burundi ranks #13 in the world in terms of birth rates. Their birth rate per 1,000 people stands at 45.44.
High Unemployment and High Underemployment
Most people in Burundi survive on subsistence farming.
Over Dependence on Primary Sector
Burundi is fully dependent on their agricultural exports to survive. Lack of access to financial services is a severe problem for the majority of the population, particularly in the densely populated rural areas: only 2 percent of the total population holds bank accounts, and less than 0.5 percent use bank lending services. Burundi also lacks any manufacturing industries.
