In 2023, mining sector exports generated revenue of 2,349 billion FCFA. Revenue paid into the State budget will amount to 529 billion FCFA, compared with 468 billion FCFA in 2022. These figures were released by the Directorate General for the Economy and Planning (DGEP) during a press conference it organised on Saturday 6 January 2024 on its productions.
These revenues will come from the production of 56.8 tonnes of gold in 2023, compared with 57.6 tonnes in 2022. According to Brahim Keré, Director of Forecasting and Macroeconomic Analysis, gold production will be 0.8 tonnes lower in 2023 than in 2022. This fall in gold production is due partly to the security situation, which has led to the closure of certain sites, and partly to difficulties in supplying certain mines with fuel and other materials. This gold was sold at an average price of 1921.3 dollars/ounce in 2023, compared with 1861.2 dollars/ounce in 2022. To date, Burkina Faso has 12 mines in production and 9 under development, according to the DGEP.
“In Burkina Faso, economic activity in 2023 is expected to grow at a faster rate than in 2022. Indeed, the growth rate of real Gross Domestic Product (GDP) is expected to rise from 1.8% in 2022 to 3.6% in 2023”, said Larba Issa Kobyagda, Director General of the Economy and Planning.
The mining sector accounts for 13.2% of this growth rate, or 166 billion FCFA, including 12.2% for gold.
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