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Côte d’Ivoire, the world’s leading cocoa and cashew producer, is experiencing one of the fastest sustained economic growth rates in Sub-Saharan Africa in over a decade. With real GDP growth averaging 8.2% between 2012-2019, Côte d’Ivoire successfully contained the COVID-19 pandemic and maintained a 2% rate in 2020. In 2021, the country returned to its high-growth trajectory and continues to play a central role as a regional economic hub and host country for many nationals from the Economic Community of West African States (ECOWAS) and elsewhere.

Economic Overview

In 2023, Ivorian economic activity remained robust, helping to reduce poverty to some extent, although regional disparities widened. However, growth momentum slowed as global and regional political tensions persisted, and financial conditions tightened. Despite higher import prices, rising global and domestic interest rates, and falling external demand, economic growth remained solid at 6.9% in 2022 and 6.4% in 2023.

Growth was mainly driven by continued high levels of public investment, still higher than before the pandemic, and by the resilience of private investment. Domestic consumption slowed due to persistently high prices. The industrial and service sectors, albeit at a slower pace than in recent years, and a strong rebound in terms of trade also contributed to this economic performance over the year, despite a backdrop of rising energy and transport prices.

Overall, inflation eased somewhat from its decade-high level of 5.2% to 4.4%, driven by higher transport and energy prices. Nevertheless, the short- and medium-term economic outlook remains positive, albeit slightly below pre-Pandemic COVID-19 levels. This optimism is underpinned by a strong commitment to macroeconomic stability and ongoing structural reforms in line with the National Development Plan (NDP) 2021-2025.

Looking ahead, real GDP growth should average 6.5% in 2024-2026. Continued investment in network infrastructure, particularly in the digital and transport sectors, and the exploitation of recent oil discoveries, combined with prudent macroeconomic policies, should boost business confidence and productivity. Projects aimed at developing value chains can improve agricultural productivity and stimulate processing, supporting long-term growth prospects.

Political Context

The political landscape has remained peaceful and stable for nearly four consecutive years following the last presidential election in October 2020. Efforts towards national reconciliation recently received a boost with the release of 51 political prisoners, including former military commanders, who were jailed for their roles in the 2010-2011 post-electoral crisis. This move has been hailed by opposition parties as a positive stride towards the much-awaited national unity. All eyes are now on the next presidential election scheduled for October 2025.

On the security front, Cote d’Ivoire has effectively contained Jihadist incursions from armed groups conducting recurrent attacks on its Northern neighbors of Mali and Burkina Faso.

However, the country is facing a humanitarian challenge in its northern part, bordering Burkina Faso, due to the influx of refugees mainly fleeing jihadist violence in the neighboring country.

Last Updated: May 06, 2024

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Côte d’Ivoire: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments
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Additional Resources

Country Office Contacts

Main Office Contact
Banque Mondiale
01 BP. 1850
Abidjan 01, Côte d’Ivoire
(225) 22 400 400
For general information and inquiries
Enoh N'dri N’guessan
External Affairs Officer
For project-related issues and complaints