In-Depth Analysis
Côte d'Ivoire
Côte d'Ivoire’s recent robust economic growth arising from infrastructure investment and reconstruction after an extended period of conflict has been temporarily disrupted by the Covid-19 crisis. The country's dependence on cocoa is declining as the economy diversifies, and its membership of the franc zone implies low currency risk.
The Ivorian economy fought off the worst effects of the Covid-19 pandemic due to the country’s robust agricultural sector and government’s comprehensive health and economic response spending. Strong growth of 5.9% is forecast for 2021 as the primary sector maintains its momentum, while activity in the industrial and services sectors recovers. The projected rebound in key commodity prices this year means that the current account deficit is expected to narrow. Côte d’Ivoire’s fiscal deficit is also anticipated to contract as revenues recover while government reins in spending. Inflation is set to rise on the back of higher food prices. (Source: Côte d'Ivoire Quarterly Update, published May 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-5.9 |
|
Consumer Price Index (% change y-o-y, avg) |
2.4 |
|
Current Account Balance (as a % of GDP) |
-2.6 |
|
Real GDP (annual % change) |
1.2 |
|
GDP per Capita, US$ |
2,319.1 |
|
Import Cover (months) |
4.2 |
|
Population, million |
26.4 |
| Total External Debt (as a % of GDP) |
36.1 |