Cote d'Ivoire Economic Forecast

Cote d'Ivoire Economic Outlook

May 22, 2018

Available data suggests the economy maintained its brisk pace at the outset of the year, on the heels of an upward revision to growth in the fourth quarter last year (to +7.8% year-on-year). Higher cocoa prices so far this year bode well for the country’s key export commodity—the farmgate price was left unchanged at XOF 700 in April—and a solid mid-crop harvest is expected to buoy consumer spending. Moreover, the success of the government’s massive EUR 1.7 billion eurobond offer in March filled the public coffers and signaled international investors’ faith in the economy. In a further bid to bring state finances under control, the army retired more than 2,000 soldiers in May after last year’s mutinies eroded investor confidence and forced costly salary hikes.

Cote d'Ivoire Economic Growth

One of the fastest-growing economies in Africa, upbeat growth should persist this year as the recovery in cocoa prices supports household spending and bolsters the external sector. Further government spending and capital outlays, as set out in the National Development Plan, will lend additional support. Met the why particular analysts expect growth of 7.1% in 2018, unchanged from last month’s forecast, and 6.9% in 2019.

Cote d'Ivoire Economy Data

20132014201520162017
Population (million)22.523.123.724.325.0
GDP per capita (USD)1,3621,5301,3531,471-  
GDP (USD bn)30.735.332.135.8-  
Economic Growth (GDP, annual variation in %)9.28.59.28.8-  
Consumption (annual variation in %)7.49.815.68.0-  
Investment (annual variation in %)20.816.026.516.7-  
Industrial Production (annual variation in %)-  -  -  -  -  
Unemployment Rate9.49.49.39.3-  
Fiscal Balance (% of GDP)-2.2-2.2-2.9-  -  
Public Debt (% of GDP)43.444.847.8-  -  
Money (annual variation in %)11.615.919.111.0-  
Inflation Rate (CPI, annual variation in %)2.60.51.20.7-  
Exchange Rate (vs USD)477.8541.8613.9628.9-  
Policy Interest Rate (%)3.503.503.504.50-  
Exchange Rate (vs USD, aop)495.3497.2595.2598.4-  
Current Account (% of GDP)-1.41.4-1.0-2.2-  
Current Account Balance (USD bn)-0.40.5-0.3-0.8-  
Trade Balance (USD billion)1.11.92.02.3-  
Exports (USD billion)13.712.611.911.7-  
Imports (USD billion)12.611.79.98.4-  
Exports (annual variation in %)26.0-7.7-5.7-11.5-  
Imports (annual variation in %)29.2-15.1-7.8-15.2-  
International Reserves (USD)4.24.54.7-  -  
External Debt (% of GDP)31.727.231.3-  -  

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Cote d'Ivoire Facts

ValueChangeDate
Exchange Rate572.7-1.11 %May 21
Stock Market0.40.0 %May 21

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