Cote d'Ivoire Economic Forecast

Cote d'Ivoire Economic Outlook

September 21, 2021

Following Q1’s faster economic growth, momentum likely carried over into the second quarter. Business confidence remained strong overall in April–June, which, coupled with more moderate Covid-19 restrictions in the period, should have supported activity. Turning to the current quarter, available data paints a mixed picture: Business confidence weakened somewhat in July, likely affecting investment at the start of the quarter. Conversely, a recent surge in global demand for cocoa beans should be supporting exports at the tail end of Q3. Lastly, in pandemic-related developments, after a relatively swift start to the vaccination campaign, the rollout seems to have hit a roadblock—with the percentage of people with at least one jab only rising marginally from 4.37% on 11 August to 4.41% on 10 September.

Cote d'Ivoire Economic Growth

Private and capital spending should help the economy to return to pre-pandemic growth rates this year, and it should gain further traction in 2022, with a recent discovery of oil and gas deposits potentially bolstering activity going forward. That said, the health crisis dampens the outlook, with new virus strains and a slow vaccination drive possibly capping momentum. FocusEconomics panelists project GDP to expand 6.2% in 2021 and 6.6% in 2022, which is up 0.1 percentage points from last month’s forecast.

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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