Cote d'Ivoire Economic Outlook
March 19, 2019Available data points to robust growth through the fourth quarter of last year. Higher farmgate prices for the late-year cocoa harvest and low inflation likely fueled private consumption in the quarter. Less encouragingly, however, despite a bounce in export growth at year-end, full-year exports contracted on headwinds linked to cocoa supply in the summer of 2018. Meanwhile, upbeat industrial output through last year reflected improving business conditions and the development of the country’s nascent agro-processing industries. More recently, El Niño-related weather effects at the outset of this year could hit crop yields and curb exports over the short-term.
Cote d'Ivoire Economic GrowthGrowth should remain broadly stable this year, supported by well-anchored domestic activity and a rebound in merchandise exports. Household spending and fixed investment should hold up, partly thanks to the low-inflation environment. On the downside, volatility in commodity markets and prospects of a slump in the British pound on a no-deal Brexit could hit cocoa prices, hampering export revenues in the process. Our panel sees growth at 6.9% in 2019, which is down 0.2 percentage points from last month’s forecast, and again at 6.9% in 2020.
Cote d'Ivoire Economy Data
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Cote d'Ivoire Facts
|Exchange Rate||574.7||-1.11 %||Mar 20|
|Stock Market||0.4||0.0 %||Mar 20|
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