Ivory Coast flag Ivory Coast: Economic and Political Overview

Foreign trade figures of the Ivory Coast

Foreign Trade in Figures

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 20182019202020212022
Imports of Goods (million USD) 10,97010,48310,52714,00717,948
Exports of Goods (million USD) 11,91212,71812,45415,33316,436
Imports of Services (million USD) 3,4683,4033,1423,9243,858
Exports of Services (million USD) 1,1671,162732910958

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 46.044.541.145.152.3
Trade Balance (million USD) 2,2033,1512,9823,053n/a
Trade Balance (Including Service) (million USD) -9991057240n/a
Imports of Goods and Services (Annual % Change) 4.42.76.113.46.8
Exports of Goods and Services (Annual % Change) -3.79.010.710.610.2
Imports of Goods and Services (in % of GDP) 23.321.520.122.527.5
Exports of Goods and Services (in % of GDP) 22.723.021.022.624.8

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 7.37.48.89.07.4
Volume of imports of goods and services (Annual % change) 9.97.06.16.75.8

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Côte d'Ivoire is a member of the Economic Commmunity of West African States (ECOWAS), and of the West African Economic and Monetary Union (UEMOA).
 

Main Partner Countries

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%.

 
 

Main Products

16.4 bn USD of products exported in 2022
Cocoa beans, whole or broken, raw or roastedCocoa beans, whole or broken, raw or roasted 19.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 12.4%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 11.7%
Natural rubber, balata, gutta-percha, guayule,...Natural rubber, balata, gutta-percha, guayule, chicle and similar natural gums, in primary forms or in plates, sheets or strip 11.4%
Coconuts, Brazil nuts and cashew nuts, fresh or...Coconuts, Brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled 6.1%
See More Products 39.0%
17.9 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 13.4%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 10.7%
RiceRice 4.5%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 4.1%
Light-vessels, fire-floats, dredgers, floating...Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability of which is subsidiary to their main function; floating docks, floating or submersible drilling or production platforms (excl. fishing vessels and warships) 3.6%
See More Products 63.7%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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Latest Update: December 2023