Côte d'Ivoire

Economic growth slowed down to 7.2% y-o-y in Q1 2019, compared with 7.3% y-o-y in Q4 2018 and 7.5% y-o-y in Q1 2018. Slower growth may be attributed to lower industrial production activity (which dropped by 24% q-o-q in Q1 2019, according to the Harmonised Index of Industrial Production). The decline in industrial production may be explained by setbacks in trade partners, such as the eurozone and China, as well as volatile commodity prices – specifically the slump in global rubber prices. In this light and considering the substantial downside risk presented, we have revised our outlook for growth this year downwards from 7.4% to 7.2%. Nevertheless, Côte d’Ivoire’s medium-term growth prospects still look upbeat (growth is forecast to average 6.2% p.a. over the medium term), especially as it pursues the second phase of its ambitious National Development Plan (NDP) (2016–20). The first phase, which started laying the foundations for the country to become an emerging economy by 2020, ran over the 2012-15 period and enabled the country to achieve average growth rates at 8.7% p.a. (Source: Côte d'Ivoire Quarterly Update, published August 2019.)

Macroeconomic Data

(2018)