In-Depth Analysis
Côte d'Ivoire
Côte d'Ivoire’s economy is growing at a robust pace due to infrastructure investment and reconstruction after a long period of conflict. Its dependence on cocoa is declining as the economy diversifies, and its membership of the franc zone implies low currency risk.
Macroeconomic conditions have improved steadily in recent years as strong growth and an expanding industrial base cemented Côte d’Ivoire's position as one of the standout performers on the continent. Nevertheless, the unprecedented scale of the disruptions caused by the spread of the Covid-19 pandemic and recent oil price collapse will deal a heavy blow to the economy. We have consequently revised our forecast drastically lower and now see GDP growth dropping to 0.1% in 2020 as private consumption falls, investment expenditure stagnates, and weak international demand erodes export revenues. On the political front, the presidential election in October will be the key event in Ivoirian politics this year. Although we expect the ruling Houphouetist Rally for Democracy and Peace party to retain power, broader election-related violence remains a downside risk. (Source: Côte d'Ivoire Quarterly Update, published May 2020.)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-3.1 |
|
Consumer Price Index (% change y-o-y, avg) |
-0.9 |
|
Current Account Balance (as a % of GDP) |
-3.7 |
|
Real GDP (annual % change) |
7.0 |
|
GDP per Capita, US$ |
1,692.4 |
|
Import Cover (months) |
5.5 |
|
Population, million |
25.7 |
| Total External Debt (as a % of GDP) |
42.0 |