Cote d'Ivoire Economic Outlook
November 12, 2019Growth momentum appears to have softened in the third quarter, after booming activity in the industrial and services sectors propelled an acceleration in the second quarter. The industrial sector seems to have hit a speed bump in August after July’s robust outturn: Production of oil and natural gas dipped and manufacturing sector output fell in August, pointing to a downturn in private sector activity. This, together with lower prices for cocoa, the country’s largest export commodity, boded ill for the country’s external sector in August. Furthermore, a mild contraction in retail sector activity in the same month hinted at cooling household spending dynamics despite persistently low inflation. On a more positive note, cocoa prices rebounded in September and October, signaling healthier metrics towards the end of the year.
Cote d'Ivoire Economic GrowthGrowth is expected to stay robust next year, supported by buoyant private consumption amid low inflation and higher farmgate prices. Moreover, accelerating investment activity, supported by an improving business environment, will further buttress the economy. That said, volatile external conditions and the likelihood of political instability surrounding the 2020 election remain key risks to the outlook. FocusEconomics panelists expect GDP to grow 7.0% in 2020, which is unchanged from last month’s forecast. In 2021, growth is seen edging down to 6.8%.
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Cote d'Ivoire Facts
|Exchange Rate||597.0||-1.11 %||Sep 04|
|Stock Market||0.8||0.0 %||Sep 03|
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