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.
According to preliminary data, the Ivorian economy expanded by a remarkable 6.5% last year. Real GDP growth is projected to slow from last year as base effects from the slowdown in 2020 dissipate. That said, another robust showing is expected. The latest surge in Covid-19 infections, driven by the Omicron variant, had little impact on the country, suggesting that the pandemic has run its course in Côte d’Ivoire. On the price front, high inflation will weigh on Ivorians’ purchasing power, which will see real consumer spending growth slow. Overall, real GDP growth of 6.3% is forecast for 2022. (Source: Côte d'Ivoire Quarterly Update, published February 2022.)
Macroeconomic Data
(2021)
|
Fiscal Balance (as a % of GDP) |
-3.7 |
|
Consumer Price Index (% change y-o-y, avg) |
4.1 |
|
Current Account Balance (as a % of GDP) |
-2.4 |
|
Real GDP (annual % change) |
6.5 |
|
GDP per Capita, US$ |
2,559.5 |
|
Import Cover (months) |
3.6 |
|
Population, million |
27.1 |
| Total External Debt (as a % of GDP) |
41.0 |