Cote d'Ivoire Economic Outlook
February 25, 2020Economic growth seems to have lost some traction in the final quarter of 2019, after the industrial sector powered an acceleration in the third quarter. The business climate indicator produced by the Central Bank of West African States deteriorated in Q4 compared to Q3, suggesting that private sector activity lost steam in Q4 2019. However, the external sector likely softened the downturn thanks to higher global prices for cocoa—Cote D’Ivoire’s key export commodity. Turning to 2020, growth momentum likely improved somewhat: Global cocoa prices rose in January, signaling stronger exports in the first month of the year, while ample rains in mid-February bode well for crop harvest ahead. In politics, tensions continued to build ahead of the October elections as the country’s former rebel leader Guillaume Soro refused to drop out of the presidential race despite the arrest warrant issued against him.
Cote d'Ivoire Economic GrowthRobust growth is expected to carry over into this year. Higher farmgate prices and still-low inflation are seen supporting household spending, while an improving business environment bodes well for investment activity growth. A volatile external environment, adverse weather conditions and election-related uncertainty are major downside risks to the outlook, however. FocusEconomics panelists project GDP to grow 7.0% in 2020, which is up 0.1 percentage points from last month’s forecast. In 2021, growth is seen ticking down to 6.9%.
Cote d'Ivoire Economy Data
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Cote d'Ivoire Facts
|Exchange Rate||585.3||-1.11 %||Jan 01|
|Stock Market||0.7||0.0 %||Jan 07|
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