Cote d'Ivoire Economic Forecast

Cote d'Ivoire Economic Outlook

August 24, 2021

After GDP growth gained steam in Q1, momentum seemingly carried over into the second quarter. Business confidence remained strong overall in April–June, likely bolstering investment. Moreover, after acquiring 1 million AstraZeneca jabs from Europe in early July, the country’s vaccination campaign has continued at a brisk pace through August, boding well for activity. That said, new Covid-19 cases have been steadily rising since early August as the Delta variant has spread throughout much of western Africa, which could hamper the recovery. In politics, in a bid to ease lingering tensions from last October’s elections, President Alassane Ouattara recently held meetings with former president and opposition leader Laurent Gbagbo, urging reconciliation in the country.

Cote d'Ivoire Economic Growth

Economic growth should accelerate notably this year, on the back of robust expansions in household and capital spending. Moreover, the gradual lifting of Covid-19 restrictions abroad should bolster exports. That said, risks are tilted to the downside amid lingering uncertainty over the course of the pandemic, new virus strains and the speed of the vaccination drive. FocusEconomics panelists project GDP to expand 6.2% in 2021, which is unchanged from last month’s forecast, and 6.5% in 2022.

Cote d'Ivoire Economy Data

2015 2016 2017 2018 2019
Population (million)23.724.325.025.626.3
GDP per capita (USD)1,3971,4511,5251,6791,686
GDP (USD bn)33.135.338.143.044.3
Economic Growth (GDP, annual variation in %)8.88.07.77.47.5
Consumption (annual variation in %)-  -  -  -  -  
Investment (annual variation in %)14.62.911.914.4-  
Industrial Production (annual variation in %)-  -  -  -  -  
Unemployment Rate3.12.63.33.23.3
Fiscal Balance (% of GDP)-2.0-3.0-3.3-4.0-  
Public Debt (% of GDP)47.348.449.853.2-  
Money (annual variation in %)18.211.09.213.410.8
Inflation Rate (CPI, annual variation in %)1.20.70.70.40.8
Policy Interest Rate (%)3.504.504.504.504.50
Exchange Rate (vs USD)603.9621.9546.3573.8584.4
Exchange Rate (vs USD, aop)591.4593.1581.7556.0586.0
Current Account (% of GDP)-0.6-1.2-2.8-4.8-4.9
Current Account Balance (USD bn)-0.2-0.4-1.0-2.1-2.2
Trade Balance (USD billion)3.23.13.42.52.3
Exports (USD billion)11.710.911.911.911.7
Imports (USD billion)8.67.88.59.59.4
Exports (annual variation in %)-9.5-7.39.10.4-1.7
Imports (annual variation in %)-5.8-8.88.811.3-0.3
International Reserves (USD)4.74.65.75.76.7
External Debt (% of GDP)34.432.435.336.4-  

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Cote d'Ivoire Facts

Value Change Date
Exchange Rate585.3-1.11 %Jan 01
Stock Market0.70.0 %Jan 07

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