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 52% (World Bank, latest available data). Exports are primarily composed of industrial agriculture and exports (40.1%), mining products (17.8%), manufactured products (20%), and first-stage processed products (18.3%). In detail, exports are dominated by cocoa (processed and unprocessed, accounting for 30.2% of total sales), gold (11.9%), petroleum products and crude oil (18.5%), natural rubber (11.4%), and cashew nuts (6%). The main imported products are petroleum products (including crude oil), accounting for 26.8% of imports. Following that are imports of mechanical machinery (6.93%), and iron, steel, and related metal products (5.75%). Among food products, rice (4.65%) and fresh fish (4.23%) are the two main items (data French Ministry of Economy for 2022).
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 (Nigeria is the only country in the region that has is yet to sign the EPA, which is why the agreement is not yet applied). 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 partners in 2022 were Mali (8.9%), the Netherlands (8.7%), Switzerland (8.1%), the United States (5.3%), Burkina Faso (5.2%), and France (4.5%); whereas imports came chiefly from China (14.4%), Nigeria (12.1%), France (6.7%), India (5.2%), and the United States (4.7%).
The Ivory Coast has a structurally positive trade balance; however, the country’s recorded a deficit in 2022, when it exported USD 16.4 billion worth of goods while it imported for USD 17.9 billion (+7.2% and +28.1% y-o-y, respectively). The raise in imports was influenced by rising energy prices. Concerning services, exports stood at USD 958 million while imports totalled USD 9.8 billion. The World Bank estimated the trade deficit at 2.6% of GDP (from a surplus of 0.1% one year earlier). According to preliminary figures from the Ivorian Customs, exports saw a rapid growth, reaching XOF 12,301 billion in 2023, marking a clear rise compared to the XOF 9,204 billion of the previous year. Similarly, imports also rose, increasing from XOF 10,070 billion to XOF 11,451 billion during the same period. The primary drivers of export growth in 2023 were cocoa beans and their derivatives, petroleum products, crude gold, and natural rubber, collectively representing 70.1% of total exports.
Foreign Trade Values | 2018 | 2019 | 2020 | 2021 | 2022 |
Imports of Goods (million USD) | 10,970 | 10,483 | 10,527 | 14,007 | 17,948 |
Exports of Goods (million USD) | 11,912 | 12,718 | 12,454 | 15,333 | 16,436 |
Imports of Services (million USD) | 3,468 | 3,403 | 3,142 | 3,924 | 3,858 |
Exports of Services (million USD) | 1,167 | 1,162 | 732 | 910 | 958 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 46.0 | 44.5 | 41.1 | 45.1 | 52.3 |
Trade Balance (million USD) | 2,203 | 3,151 | 2,982 | 3,053 | n/a |
Trade Balance (Including Service) (million USD) | -99 | 910 | 572 | 40 | n/a |
Imports of Goods and Services (Annual % Change) | 4.4 | 2.7 | 6.1 | 13.4 | 6.8 |
Exports of Goods and Services (Annual % Change) | -3.7 | 9.0 | 10.7 | 10.6 | 10.2 |
Imports of Goods and Services (in % of GDP) | 23.3 | 21.5 | 20.1 | 22.5 | 27.5 |
Exports of Goods and Services (in % of GDP) | 22.7 | 23.0 | 21.0 | 22.6 | 24.8 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2023 | 2024 (e) | 2025 (e) | 2026 (e) | 2027 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 7.3 | 7.4 | 8.8 | 9.0 | 7.4 |
Volume of imports of goods and services (Annual % change) | 9.9 | 7.0 | 6.1 | 6.7 | 5.8 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Mali | 8.9% |
Netherlands | 8.7% |
Switzerland | 8.1% |
United States | 5.3% |
Burkina Faso | 5.2% |
See More Countries | 63.8% |
Main Suppliers (% of Imports) |
2022 |
China | 14.4% |
Nigeria | 12.1% |
France | 6.7% |
India | 5.2% |
United States | 4.7% |
See More Countries | 56.9% |
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%.
To go further, check out our service Import Export Flows.
Vols fer algun comentari sobre aquest contingut? Escriu-nos.
© eexpand, Tots els drets reservats.
Actualitzacions: March 2024