Burkina Faso's terms of trade, which measure how much its exports can buy in imports, improved 50.2% in the second quarter of 2026 from a year earlier, statistics agency INSD said in its quarterly trade report. Export prices rose 37.1% while import prices fell 8.8%, lifting the index to 238.2, more than twice its 2022 base, the agency said.
Analysis: Gold accounts for 93.5% of exports, making its 33.6% annual price increase the main driver of the improvement. Import prices fell 8.8%, adding to the gain in purchasing power. Momentum may be slowing, however: the terms-of-trade index increased just 0.8% from the first quarter, following an 8.2% rise in the preceding quarter, by our calculation. Such concentration exposes the country to any reversal in gold prices, particularly when paying for imported fuel and equipment. The third-quarter trade report, expected early in 2027, may indicate whether the improvement has stalled.
Source: INSD, INSD, Note trimestrielle sur les statistiques du commerce extérieur, deuxième trimestre 2026, Q2 2026; INSD, https://www.insd.bf/sites/default/files/2026-10/SCE_2T2026.pdf, Q2 2026