- Cote d’Ivoire has had a turbulent, and often violent, past, but after the conflict that followed the 2010-11 political crisis, President Ouattara has overseen a period of greater stability. The next presidential election in 2020, in which Ouattara cannot stand because of term limits, will be a key test of the country’s political maturity.
- Cote d’Ivoire’s economy is mainly based on primary products. It is the world’s largest cocoa producer, consistently producing 40% of global output, while oil has also emerged as a significant export, with production running at c60,000 barrels per day. Economic recovery after the political crisis and debt relief helped the country grow by an average of 8.9% over 2012-17, the fourth-fastest rate in the world (on WEO figures). But it still ranks low on the Doing Business survey (139th in 2018 out of 190).
- Cote d’Ivoire’s long history of sovereign default, on both its official and commercial debt, seemingly looks behind it. This included most recently 2010-11 when it missed coupon payments on its restructured London Club debt. It is now a post-HIPC country, after reaching completion point in 2012, and returned to the international capital markets soon after, with gross bond issuance over 2014-18 of US$5.8bn. It has remained current on is external debt ever since. Sovereign eurobonds now account for 60% of public external debt, while total public debt has increased from 34% in 2012 to 46% of GDP in 2017.
Real GDP growth
Inflation (annual average)
Current account (% of GDP)
Reserves (US$bn, end-period)**
Overall fiscal balance (% of GDP)#
Member of the CFA Franc Zone (XOF)
The CFA franc is pegged against the euro at a rate of CFAF655.957 per euro. The CFA franc floats freely against other currencies.
Cocoa and oil historically two main exports, but relative shares have shifted since 2012, with decline in oil and increase in cocoa. Oil was main export over most of 2006-12; cocoa has replaced it since then. Five products (cocoa, petroleum, cashew nuts, gold, rubber) make up three-quarters of goods’ exports (2016 data): cocoa (43%), petroleum (13.5%), cashews (8%), gold (7.5%) and rubber (5%). Goods’ exports in 2016 were US$11bn.
Source: IMF WEO Database, IMF country reports, Haver, Bloomberg, OEC, Exotix. *10-year average to 2016 unless otherwise stated. **WAEMU gross official reserves from IMF reports. ~Latest figure, April 2018. ***Months of WAEMU imports of GNFS from IMF reports. #General government net lending (IMF WEO).