Cote d'Ivoire Economic Outlook
June 21, 2022GDP expanded 6.3% in Q1 2022 according to the regional central bank, an identical pace to Q4 2021, notwithstanding a surge in Covid-19 cases at the outset of the year. Q1’s reading was chiefly driven by expanding retail sales, industrial production output and improving construction activity. It was also among the strongest growth rates in the West African Economic and Monetary Union. Turning to Q2, the war in Ukraine driving up food and fuel prices is likely capping consumer spending. Furthermore, the volume of cocoa production has been marginally weaker through to early June this year, while cocoa prices have followed a declining trend as high inflation abroad weighs on demand. That said, recent rains bode well for upcoming cocoa output.
Cote d'Ivoire Economic GrowthGDP growth should remain among the fastest in Sub-Saharan Africa this year, thanks to robust industrial production and investment. Reforms under the government’s 2021–2025 National Development Plan (NDP) are an upside risk. However, external price pressures, a widening current account deficit requiring external financing, and rising debt costs remain downside risks. FocusEconomics panelists project GDP to expand 6.3% in 2022, which is down 0.2 percentage points from last month’s forecast, and 6.6% in 2023.
Cote d'Ivoire Economy Data
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Cote d'Ivoire Facts
|Exchange Rate||585.3||-1.11 %||Jan 01|
|Stock Market||0.7||0.0 %||Jan 07|
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