Costa d'Ivori: Visió econòmica i política
The Ivory Coast is the hub of commercial activities in West Africa. The share of foreign trade in the country's GDP is 46% (World Bank, latest available data). The country mainly exports foodstuffs, including cocoa, coconut, banana and fish, refined petroleum, gold, rubber and cotton. The main import commodities are crude petroleum, frozen fish, rice, medicine, vehicles, and machinery (Comtrade).
The Ivory Coast is a member of the UEMOA (West African Economic and Monetary Union), which enforces a Common External Tariff (CET). It also belongs to the Free Trade Zone. In 2008, the Ivory Coast signed a stepping stone economic partnership agreement (EPA) with the European Union (EU). This agreement entered into provisional application on 3 September 2016 and essentially aims at maintaining the preferential trade system that exists between the EU and the Ivory Coast. It will be replaced by the regional EU-West Africa EPA. Ivory Coast is also a signatory to the African Continental Free Trade Agreement. According to Comtrade, the country's main export partner is the Netherlands, which imports 10% of its products, followed by the USA (6.7%), Switzerland (6.5%), Vietnam (6.4%) and Belgium (5.4%). The Ivory Coast's three main suppliers are China (15%), Nigeria (13.1%) and France (10.8%), followed by India (5.1%) and the USA (4%).
The Ivory Coast has a structurally positive trade balance and this trend should continue in the upcoming years. In 2021, the country exported USD 14.99 billion worth of goods while it imported USD 14 billion of goods (WTO). Exports of services amounted to USD 871 million, while imports reached USD 3.65 billion (WTO). Port strikes negatively impacted exports in 2022 (Focus Economics).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 9,605 | 10,970 | 10,483 | 10,650 | 14,007 |
Exports of Goods (million USD) | 11,853 | 11,912 | 12,629 | 11,922 | 14,994 |
Imports of Services (million USD) | 3,180 | 3,385 | 3,331 | 3,119 | 3,648 |
Exports of Services (million USD) | 869 | 1,130 | 1,121 | 1,017 | 871 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 48.5 | 46.1 | 46.4 | 42.2 | 45.7 |
Trade Balance (million USD) | 3,374 | 2,203 | 3,151 | 2,982 | n/a |
Trade Balance (Including Service) (million USD) | 1,007 | -99 | 910 | 572 | n/a |
Imports of Goods and Services (Annual % Change) | 11.0 | 13.4 | 1.2 | 1.4 | 12.7 |
Exports of Goods and Services (Annual % Change) | 10.0 | -0.1 | 17.8 | -6.5 | 3.7 |
Imports of Goods and Services (in % of GDP) | 23.6 | 23.4 | 22.6 | 20.6 | 22.8 |
Exports of Goods and Services (in % of GDP) | 24.9 | 22.6 | 23.8 | 21.6 | 23.0 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 0.3 | 5.7 | 8.5 | 8.3 | 8.2 |
Volume of imports of goods and services (Annual % change) | 7.2 | 5.3 | 5.7 | 5.7 | 7.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2020 |
Netherlands | 10.0% |
United States | 6.7% |
Switzerland | 6.5% |
Vietnam | 6.4% |
Belgium | 5.4% |
Mali | 5.3% |
Malaysia | 5.3% |
France | 5.1% |
Germany | 4.4% |
South Africa | 4.3% |
Burkina Faso | 4.1% |
China | 3.7% |
United Kingdom | 3.2% |
Spain | 2.8% |
Türkiye | 2.2% |
India | 2.1% |
Ghana | 1.9% |
Canada | 1.8% |
Italy | 1.5% |
Australia | 1.2% |
See More Countries | 65.0% |
Main Suppliers (% of Imports) |
2020 |
China | 15.0% |
Nigeria | 13.1% |
France | 10.8% |
India | 5.1% |
United States | 4.0% |
Türkiye | 3.1% |
Germany | 3.0% |
Vietnam | 2.9% |
Netherlands | 2.7% |
Italy | 2.7% |
Spain | 2.5% |
Morocco | 2.4% |
Belgium | 2.0% |
Senegal | 2.0% |
Japan | 1.8% |
United Kingdom | 1.6% |
Ghana | 1.5% |
Mauritania | 1.2% |
Togo | 1.2% |
South Korea | 1.2% |
See More Countries | 52.0% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: November 2023
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