Cote d'Ivoire Economic Forecast

Cote d'Ivoire Economic Outlook

July 17, 2018

First-quarter growth proved resilient as last year’s momentum persisted despite weak cocoa prices at the outset of the year. Consumer spending was likely instead bolstered by stronger volumes of the commodity as improved growing techniques in recent years have increasingly delivered gains. Investor confidence, furthermore, continues to rebound, most recently ticking up on glowing IMF loan reviews. Meanwhile, government efforts to boost cocoa prices have contributed to their strong recovery in recent months, pointing to further consumer-driven gains in the second quarter. Higher tax revenues, in turn, would go some way to narrowing the fiscal deficit, which appears increasingly on track to meet next year’s regional target.

Cote d'Ivoire Economic Growth

Buoyant growth is again expected this year in one of Africa’s fastest-growing economies as the recovery in cocoa prices supports household spending and backstops the external sector. Heavy government spending will lend additional support. FDI inflows, particularly in the agro-industrial sector, should accelerate over the medium term. Met the why particular analysts expect growth of 7.5% in 2018, up 0.3 percentage points from last month’s forecast, and 7.1% in 2019.

Cote d'Ivoire Economy Data

20132014201520162017
Population (million)22.523.123.724.325.0
GDP per capita (USD)1,3851,5201,3891,4811,611
GDP (USD bn)31.235.132.936.011.2
Economic Growth (GDP, annual variation in %)9.28.88.88.38.1
Consumption (annual variation in %)4.211.27.79.6-  
Investment (annual variation in %)50.018.917.617.1-  
Unemployment Rate2.82.72.72.62.6
Fiscal Balance (% of GDP)-2.2-2.2-2.8-3.9-  
Public Debt (% of GDP)43.444.847.347.0-  
Money (annual variation in %)11.615.919.111.08.3
Inflation Rate (CPI, annual variation in %)2.60.51.20.70.7
Exchange Rate (vs USD)477.8541.8613.9628.9573.5
Policy Interest Rate (%)3.503.503.504.504.50
Exchange Rate (vs USD, aop)495.3497.2595.2598.4586.7
Current Account (% of GDP)-1.41.5-0.6-1.1-  
Current Account Balance (USD bn)-0.40.5-0.2-0.4-  
Trade Balance (USD billion)1.11.82.12.33.0
Exports (USD billion)13.612.512.511.612.4
Imports (USD billion)12.611.711.48.39.5
Exports (annual variation in %)26.0-8.2-0.4-15.117.5
Imports (annual variation in %)29.0-14.7-3.4-19.914.1
International Reserves (USD)4.24.54.84.3-  
External Debt (% of GDP)32.126.834.430.7-  

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Cote d'Ivoire Facts

ValueChangeDate
Exchange Rate559.2-1.11 %Jul 17
Stock Market0.70.0 %Jul 17

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