Cote d'Ivoire Economy - 2022

GEOGRAPHICAL NAMES 

Economic overview

For the last 5 years Cote d'Ivoire's growth rate has been among the highest in the world. Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and to climatic conditions. Cocoa, oil, and coffee are the country's top export revenue earners, but the country has targeted agricultural processing of cocoa, cashews, mangoes, and other commodities as a high priority. Mining gold and exporting electricity are growing industries outside agriculture.

 

Following the end of more than a decade of civil conflict in 2011, Cote d’Ivoire has experienced a boom in foreign investment and economic growth. In June 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly Indebted Poor Countries Initiative.

Real GDP (purchasing power parity)

$136.48 billion (2020 est.)

$134.05 billion (2019 est.)

$126.19 billion (2018 est.)

note: data are in 2017 dollars

Real GDP growth rate

7.8% (2017 est.)

8.3% (2016 est.)

8.8% (2015 est.)

Real GDP per capita

$5,200 (2020 est.)

$5,200 (2019 est.)

$5,000 (2018 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$42.498 billion (2018 est.)

Inflation rate (consumer prices)

-1.1% (2019 est.)

0.3% (2018 est.)

0.6% (2017 est.)

Credit ratings

Fitch rating: B+ (2015)

Moody's rating: Ba3 (2015)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 20.1% (2017 est.)

industry: 26.6% (2017 est.)

services: 53.3% (2017 est.)

GDP - composition, by end use

household consumption: 61.7% (2017 est.)

government consumption: 14.9% (2017 est.)

investment in fixed capital: 22.4% (2017 est.)

investment in inventories: 0.3% (2017 est.)

exports of goods and services: 30.8% (2017 est.)

imports of goods and services: -30.1% (2017 est.)

Agricultural products

yams, cassava, cocoa, oil palm fruit, sugar cane, rice, plantains, maize, cashew nuts, rubber

Industries

foodstuffs, beverages; wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity

Industrial production growth rate

4.2% (2017 est.)

Labor force

8.747 million (2017 est.)

Labor force - by occupation

agriculture: 68% (2007 est.)

Unemployment rate

9.4% (2013 est.)

Youth unemployment rate (ages 15-24)

total: 4.1%

male: 3.4%

female: 4.9% (2019 est.)

Population below poverty line

39.5% (2018 est.)

Gini Index coefficient - distribution of family income

41.5 (2015 est.)

36.7 (1995)

Household income or consumption by percentage share

lowest 10%: 2.2%

highest 10%: 31.8% (2008)

Budget

revenues: 7.749 billion (2017 est.)

expenditures: 9.464 billion (2017 est.)

Budget surplus (+) or deficit (-)

-4.2% (of GDP) (2017 est.)

Public debt

47% of GDP (2017 est.)

47% of GDP (2016 est.)

Taxes and other revenues

19.1% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$1.86 billion (2017 est.)

-$414 million (2016 est.)

Exports

$13.79 billion (2019 est.)

$13.08 billion (2018 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

Netherlands 10%, United States 6%, France 6%, Spain 5%, Malaysia 5%, Switzerland 5%, Germany 5%, Vietnam 5% (2019)

Exports - commodities

cocoa beans, gold, rubber, refined petroleum, crude petroleum (2019)

Imports

$12.88 billion (2019 est.) note: data are in current year dollars

$13.18 billion (2018 est.) note: data are in current year dollars

Imports - partners

China 18%, Nigeria 13%, France 11% (2019)

Imports - commodities

crude petroleum, rice, frozen fish, refined petroleum, packaged medicines (2019)

Reserves of foreign exchange and gold

$6.257 billion (31 December 2017 est.)

$4.935 billion (31 December 2016 est.)

Debt - external

$13.07 billion (31 December 2017 est.)

$11.02 billion (31 December 2016 est.)

Exchange rates

Communaute Financiere Africaine francs (XOF) per US dollar -

594.3 (2017 est.)

593.01 (2016 est.)

593.01 (2015 est.)

591.45 (2014 est.)

494.42 (2013 est.)

NOTE: The information regarding Cote d'Ivoire on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Cote d'Ivoire 2022 information contained here. All suggestions for corrections of any errors about Cote d'Ivoire 2022 should be addressed to the CIA or the source cited on each page.