Cote d'Ivoire Economic Forecast

Cote d'Ivoire Economic Outlook

November 13, 2018

Cote d’Ivoire continued to show resilience in the second quarter, with economic growth ticking up to 7.6% year-on-year. Moreover, available data for the remainder of the year suggests another sterling outturn. Favorable weather conditions have put cocoa farmers on track for a record-breaking harvest which, combined with higher farmgate prices, should boost household spending. Confident of solid growth over the medium-term thanks to buoyant demand for cocoa and the government’s National Development Plan (NDP), Moody’s affirmed its stable outlook on Cote d’Ivoire’s Ba3 credit rating on 11 October. On 25 October, Cote d’Ivoire and Ghana announced they were close to an agreement aimed at cornering the cocoa market, with hopes of eventually lifting prices.

Cote d'Ivoire Economic Growth

Buoyant growth is expected to continue through to next year amid higher commodity prices and on the back of strong investment, which should benefit from the government’s NDP-related infrastructure spending. Political uncertainty in the run-up to the 2020 presidential election is a short-term downside risk. Met the why particular panelists see growth at 7.2% in 2019, unchanged from last month’s forecast, and 6.8% in 2020.

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 Rate573.7-1.11 %Dec 11
Stock Market0.40.0 %Dec 11

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