United Arab Emirates Consolidates its⁢ Position as ⁣a Key Destination for Burkinabe Gold

For the second ⁤consecutive quarter⁣ of 2024, the United Arab Emirates has solidified its position as one of​ the⁣ top three​ customers of Burkina Faso, with a ‌significant portion of its export revenue coming ‍from the purchase of non-financial gold.

Key Statistics

• Switzerland remains ‍the main destination for Burkinabe‌ gold exports.
• The United Arab⁤ Emirates is⁣ the second-largest destination for Burkinabe gold exports, accounting for 25.6% of export earnings.
• Gold export revenue experienced a quarterly increase of 68.4⁣ billion FCFA, an increase‍ of 11.4%.

Strengthening​ Relationship between Burkina Faso and the United Arab Emirates

The fact that the United Arab⁢ Emirates has maintained its⁣ position as a key destination for ⁢Burkinabe gold exports for two consecutive quarters indicates a‌ strengthening relationship between⁣ the ⁣two countries. This is further reinforced by​ diplomatic exchanges ⁣between the governments of Burkina Faso and ​the United Arab Emirates, including a delegation visit‌ to ​Abu Dhabi in July 2023.

Drop in Exports to ECOWAS and UEMOA

Exports to ECOWAS ‍countries decreased by ​42.2% compared to the⁤ previous quarter, with the main products exported being fruit, vegetables,⁣ and manufactured ⁣building‌ materials. Ghana was the largest recipient of Burkinabe exports to ECOWAS, accounting for 30.7% of export revenue.

Exports to UEMOA countries also decreased by 57.5% compared to ‌the previous quarter, with Mali being the​ largest recipient of Burkinabe exports to UEMOA, accounting for ⁢32.4% of export ‌revenue.

Import⁤ Statistics

Ivory Coast‍ was the main supplier to​ Burkina Faso in the second quarter of 2024, ​accounting for ‍15.4% of total imports. The main products imported from Ivory Coast were refined petroleum products, manufactured fertilizers, and food products.