Cote d'Ivoire Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

one of West Africa’s most influential, stable, and rapidly developing economies; poverty declines in urban but increases in rural areas; strong construction sector and increasingly diverse economic portfolio; increasing but manageable public debt; large labor force in agriculture

Real GDP (purchasing power parity)

$146.323 billion (2021 est.)

$136.702 billion (2020 est.)

$134.049 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

7.04% (2021 est.)

1.98% (2020 est.)

6.23% (2019 est.)

Real GDP per capita

$5,300 (2021 est.)

$5,100 (2020 est.)

$5,100 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$42.498 billion (2018 est.)

Inflation rate (consumer prices)

4.09% (2021 est.)

2.43% (2020 est.)

-1.11% (2019 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

6.2% (2021 est.)

Labor force

8.876 million (2021 est.)

Labor force - by occupation

agriculture: 68% (2007 est.)

Unemployment rate

3.47% (2021 est.)

3.49% (2020 est.)

3.32% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 5.7%

male: 4.8%

female: 6.8% (2021 est.)

Population below poverty line

39.5% (2018 est.)

Gini Index coefficient - distribution of family income

37.2 (2018 est.)

Average household expenditures

on food: 39.6% of household expenditures (2018 est.)

on alcohol and tobacco: 3.1% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 2.2%

highest 10%: 31.8% (2008)

Budget

revenues: $8.804 billion (2019 est.)

expenditures: $10.145 billion (2019 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

12.11% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$1.974 billion (2020 est.)

-$1.349 billion (2019 est.)

-$2.285 billion (2018 est.)

Exports

$13.232 billion (2020 est.)

$13.791 billion (2019 est.)

$13.084 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 products, rubber, gold, cashews, crude petroleum, bananas (2021)

Imports

$12.66 billion (2020 est.) note: data are in current year dollars

$12.881 billion (2019 est.) note: data are in current year dollars

$13.183 billion (2018 est.)

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 -

554.531 (2021 est.)

575.586 (2020 est.)

585.911 (2019 est.)

555.446 (2018 est.)

580.657 (2017 est.)

NOTE: The information regarding Cote d'Ivoire on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Cote d'Ivoire 2023 information contained here. All suggestions for corrections of any errors about Cote d'Ivoire 2023 should be addressed to the CIA or the source cited on each page.