CdI Economic Outlook
West Africa’s growth engine:
Côte d'Ivoire is one of the fastest-growing economies in Africa, with annual GDP growth averaging above 6% over the past decade. The country is the largest economy in the West African Economic and Monetary Union (WAEMU) and a key driver of regional trade. Its growth has been supported by strong public investment, a diversified agricultural base, and infrastructure development. However, economic inequality and political uncertainty remain key risks.
Agricultural powerhouse:Côte d'Ivoire is the world’s largest producer of cocoa, accounting for around 40% of global supply, and is a major exporter of coffee, cashews, and palm oil. Agriculture contributes over 20% of GDP and employs a large portion of the population. While the government has pushed for local processing of raw commodities to increase value-added exports, progress has been gradual. The country has also been investing in improving logistics and transport infrastructure to enhance trade efficiency.
Industrialization and infrastructure boom:The government has prioritized industrialization, aiming to diversify the economy beyond agriculture. Investments in manufacturing, energy, and construction have driven recent growth. Major infrastructure projects, such as roads, bridges, and power plants, have improved business conditions and urban development. Abidjan, the commercial capital, is emerging as a regional financial and logistics hub, attracting foreign investment in various sectors, including banking and telecoms.
Côte d'Ivoire’s economic outlook:Economic growth in Côte d'Ivoire’s is expected to be strong in the coming years, supported by continued investment in infrastructure and industrial expansion. However, challenges include political stability, the need for economic diversification, and social inequality. Cocoa price fluctuations, environmental concerns, and climate change also pose risks to long-term sustainability. Strengthening governance, reducing corruption, and improving education will be key to sustaining growth momentum.
CdI's Macroeconomic Analysis:
Nominal GDP of USD 86.4 billion in 2024.
Nominal GDP of USD 86.4 billion in 2024.
GDP per capita of USD 2,702 compared to the global average of USD 10,589.
GDP per capita of USD 2,702 compared to the global average of USD 10,589.
Average real GDP growth of 6.4% over the last decade.
Average real GDP growth of 6.4% over the last decade.
Sector Analysis
In 2022, services accounted for 54.3% of overall GDP, manufacturing 14.9%, other industrial activity 16.4%, and agriculture 14.4%. Looking at GDP by expenditure, private consumption accounted for 67.7% of GDP in 2023, government consumption 10.3%, fixed investment 25.8%, and net exports -3.8%.International trade
In 2022, manufactured products made up 10.0% of total merchandise exports, mineral fuels 18.5%, food 44.6%, ores and metals 1.1% and agricultural raw materials 14.1%, with other categories accounting for 11.7% of the total. In the same period, manufactured products made up 53.7% of total merchandise imports, mineral fuels 26.9%, food 18.0%, ores and metals 1.0% and agricultural raw materials 0.5%, with other goods accounting for -0.1% of the total. Total exports were worth USD 20.50 billion in 2024, while total imports were USD 15.10 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 6.4% in the decade to 2024. To read more about GDP growth in CdI, go to our dedicated page.
Fiscal policy
CdI's fiscal deficit averaged 3.5% of GDP in the decade to 2023. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 2.8% in the decade to 2023. For more information on CdI's unemployment click here.
Inflation
Inflation averaged 2.0% in the decade to 2024. Go to our CdI inflation page for extra insight.
Monetary Policy
CdI's monetary policy rate ended 2024 at 3.50%, up from 2.50% a decade earlier. See our CdI monetary policy page for additional details.
Exchange Rate
From end-2014 to end-2024 the West African CFA franc weakened by 13.7% vs the U.S. dollar. For more info on the West African CFA franc, click here.
Economic situation in CdI
The economy expanded 6.1% overall in 2024, according to early reports from the Central Bank of West African States. The reading was slightly below 2023’s 6.5% increase, and was the softest rise since the 2020 pandemic-induced slowdown. A detailed breakdown is not yet available. Shifting to 2025, the political landscape shifted significantly on 10 March, when 15 opposition parties united to form the Coalition for Peaceful Change ahead of the presidential elections on 25 October; the group calls for electoral reform and better transparency regarding the voting process. The stability of the coalition is uncertain, however, due to its large membership of politically diverse viewpoints. In other news, in March, Côte d’Ivoire and Ghana agreed to manage their shared coastal border and regulate offshore oil exploration. Further cooperation in key sectors such as energy and cocoa is likely.CdI Economic Forecasts
Projections out to 2034.40 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 13 expert analysts.
Want to get insight on the economic outlook for CdI in the coming years? FocusEconomics collects projections out to 2034 on 40 economic indicators for CdI from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the CdI economy. To download a sample report on the CdI's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.