Burundi's largest industry is agriculture, which accounted for just over 30% of the GDP. Subsistence agriculture accounts for 90% of agriculture. The nation's largest source of revenue is coffee, which makes up 93% of Burundi's exports. Other agricultural products include cotton, tea, maize, sorghum, sweet potatoes, bananas, manioc (tapioca); beef, milk, and hides.
Burundi’s economic policy is driven by its Cadre stratégique de croissance et de lutte contre la pauvreté, CSLP II, adopted in February 2012. Its goal is to promote rapid and sustained growth.
The Burundian government is focusing on mobilizing domestic revenue by pursuing taxation reforms, including simplifying procedures, introducing a flexible tax system, broadening the tax base, decentralizing and modernizing collection structures, and harmonizing the tax system with the regulations of the East African Community (EAC).
Burundi is ranked 140th out of 189 economies in World Bank’s Doing Business 2014.
Burundi’s economic freedom score is 53.7, making its economy the 132nd (out of 186) freest in the Heritage Foundation’s 2015 Index of Economic Freedom. Burundi is ranked 27th out of 46 countries in the Sub-Saharan Africa region.
Heritage Foundation’s 2015 Index of Economic Freedom notes that despite the improvements in its economic freedom score the landlocked country remains in the ranks of the “mostly unfree.” The lack of capable public institutions and the weak rule of law continue to undermine the implementation of critical reforms. Tariff and non-tariff barriers coupled with burdensome investment regulations, still hamper development of a more dynamic private sector and interfere with diversification of the economic base.
United Nations Conference on Trade and Development STATS.
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Published on July 03, 2017
On June 22, Burundi’s National Assembly adopted draft law on the ratification of the East African Community Protocol on Sanitary and Phytosanitary (SPS) Measures (EAC SPS Protocol) pursuant to Section 8 of the Treaty Making and Ratification Act, 2012, essentially signaling the country’s approval of EAC SPS Protocol. This follows a high-level awareness raising meeting convened by the Hub in March 2017, in partnership with the Burundi Bureau of Standards and Quality Control (BBN). The meeting specifically aimed at raising awareness on EAC SPS Protocol and the need to support and fast track its ratification in the country. (Please also refer to this link: http://www.assemblee.bi/Analyse-et-adoption-du-Projet-de,1525 – note that it is in French)
The protocol harmonizes regional measures that align the EAC Partner States with each other and with global markets, ensuring easier trade. The measures seek to protect human and animal life from risks arising from additives, contaminants, toxins or disease causing organisms in their food. The measures, which also take into account plant life, seek to mitigate damage to a country from the entry, establishment or spread of pests, diseases or disease causing elements. The EAC SPS Protocol is expected to promote trade in food and agricultural commodities and strengthen the application of a harmonized approach for implementation of SPS measures and activities.
With the Parliaments ratification, the next stage will be to forward the protocol’s instruments of operation to the Ministry responsible for EAC affairs, and then to the EAC Secretariat. Burundi now joins Kenya, Rwanda and Uganda as the EAC Partner States that have ratified the SPS Protocol. Next steps for the Hub include supporting Tanzania to ratify the EAC Protocol on SPS.
Published on March 22, 2017
Burundi Members of Parliament agreed to push for ratification of the East African Community (EAC) Sanitary and Phytosanitary (SPS) Protocol following a Hub-supported awareness workshop. Burundi and Tanzania are the only remaining EAC countries that have yet to ratify the Protocol. Ratification of the EAC SPS Protocol by all the EAC partner states will pave the way for domestication of the Protocol, including the drafting of harmonized regulations based on the EAC SPS Bill covering plant health, animal health and food safety. Harmonized SPS regulations among the EAC Partner States will contribute to greater intra-EAC and international trade.
The Hub conducted the SPS Protocol awareness-raising workshop in collaboration with the Burundi Bureau of Standards and Quality Control. High-ranking government officials, including two Cabinet Ministers, four members of Parliament (including the President of the Committee on agriculture and livestock) and Senate, representatives of competent authorities responsible for plant health, animal health and food safety, private sector and the academia attended. Workshop facilitators outlined what participants have to gain by ratifying the SPS Protocol, including:
Better food safety measures
Improved plant protection and animal health.
Enhanced risk mitigation arising from pest, pests, diseases and food safety concerns e.g. aflatoxins
Improved competitiveness of the produce originating from the EAC region to external markets, such as the European Union
Stronger coordination of institutional frameworks for enforcing of SPS measures within the EAC region.
Published on March 22, 2017
Panelists for the East Africa Postharvest Technologies Competition 2017 have selected 46 innovators, from over 200 applicants, to undergo accelerator training on how to package and pitch their technologies to investors. The training will help the innovators expand their opportunities for scaling up and disseminating their technologies to a wider market. The training will take place in Tanzania on April 4-6, 2017.
Applicants are competing for the best technological solutions to address post-harvest losses. They hail from Kenya, Uganda, Tanzania, Rwanda and Burundi.
The Inter Region Economic Network (IREN) is conducting the inaugural East Africa Postharvest Technologies Competition 2017 through a grant from the Hub. The objective is to spur the development of innovative technologies that reduce food loss and waste in Africa.
Published on July 01, 2016
The monthly 'Common Market Implementation Update' tracks legal and regulatory developments that have a bearing on Kenya’s compliance with commitments made towards the East African Community' Common Market Protocol (CMP).
This issue covers key milestones taken by the Republic of Kenya to advance implementation of the Protocol. On June 29 2016, Kenya approved the ratification of the EAC Protocol on Sanitary and Phytosanitary Measures.
Download the report.
Published on May 05, 2016
The January 2016 edition of Global Economic Prospects discusses current global and regional economic developments and prospects, analyzing key challenges and opportunities confronting developing countries. It also highlights spillovers from large emerging markets and macroeconomic vulnerabilities during resource development.
Biannually (January and June), it examines global economic developments and prospects, with a special focus on developing countries, as well as analysis of topical policy challenges faced by developing countries through in-depth research detailed in this edition.
Visit the knowledge center for this report and more.
Published on April 29, 2016
The WTO World Trade Report focuses on the benefits of the WTO Trade Facilitation Agreement (TFA), which was agreed by WTO members at the Ministerial Conference in Bali in December 2013. The 2015 World Trade Report is the first detailed study of the potential impacts of the TFA based on a full analysis of the final agreement text.
The WTO has also published a companion app (on iTunes, Android, and Amazon app stores) to the report. The app includes the full text of the Report plus the underlying data for all charts and tables in the Report. It also contains a video and photos of the launch event.
Go to our knowledge center for this report and more.
Published on April 29, 2016
The WTO Trade Facilitation Agreement (TFA), which was agreed by WTO members at the Ministerial Conference in Bali in December 2013, is the first multilateral trade agreement concluded since the establishment of the WTO in 1995. The 2015 World Trade Report is the first detailed study of the potential impacts of the TFA based on a full analysis of the final agreement text.The WTO Trade Facilitation Agreement (TFA), which was agreed by WTO members at the Ministerial Conference in Bali in December 2013, is the first multilateral trade agreement concluded since the establishment of the WTO in 1995. The 2015 World Trade Report is the first detailed study of the potential impacts of the TFA based on a full analysis of the final agreement text.Download here
Get the companion app from the iTunes, Android, Amazon app stores.
The Report’s findings are consistent with existing studies on the scale of potential benefits from trade facilitation, but it goes further by identifying and examining in detail a range of other benefits from the TFA. These include diversification of exports from developing countries and least-developed countries to include new products and partners, increased involvement of these countries in global value chains, expanded participation of small and medium-sized enterprises in international trade, increased foreign direct investment, greater revenue collection and reduced incidence of corruption.The Report also looks into the challenges of implementing the Trade Facilitation Agreement and examines how a new facility, launched in 2014 by WTO Director-General Roberto Azevêdo, will provide support to help developing countries implement the Agreement.
Published on April 21, 2016
Holders of East African Community (EAC) passports who previously were limited to travelling to only five countries will from next year be able to cover other parts of the world.Speaking after a sensitisation seminar for Members of Parliament (MPs) of the Standing Order Committees on the integration process, the chairman of Tanzanian MPs in the EA Legislative Assembly (EALA), Mr Makongoro Nyerere, said that this comes after presidents of member states signed an agreement. Read more. Source: AllAfrica.