Cote d'Ivoire Introduction Key Economic Facts Risk Assessment (Provided by Coface) Cote d'Ivoire, also known as Ivory Coast, is a country in Income Level (by per capita Lower Middle Income Country rating: B - Political and economic uncertainties West Africa bordered by the Gulf of Guinea. Neighboring GNI): and an occasionally difficult business environment can countries include Liberia, Guinea, Mali, Burkina Faso, and Level of Development: Developing affect corporate payment behavior. Corporate default Ghana. Cote d'Ivoire is mostly flat with GDP, PPP (current international $139.98 billion (2019) mountains in the northwest and a forested $): probability is appreciable. interior. The government system is a GDP growth (annual %): 6.23% (2019) Business Climate rating: B - The business environment is public, multiparty presidential regime. The GDP per capita, PPP (current $5,443.22 (2019) mediocre. The availability and the reliability of corporate chief of state is the president, and the international $): financial information vary widely. Debt collection can head of government is the prime minister. Cote d'Ivoire has External debt stocks, total $19,182,287,178.20 (2019) sometimes be difficult. The institutional framework has a few a mostly traditional economic system in which the economy (DOD, current US$): is heavily dependent on agriculture and related activities. Manufacturing, value added (% 11.78% (2019) troublesome weaknesses. Intercompany transactions run Cote d'Ivoire is a member of the of GDP): appreciable risks in the unstable, largely inefficient Economic Community of West Current account balance (BoP, -$2.08 billion (2018) environments rated B. current US$): African States (ECOWAS). Strengths Inflation, consumer prices -1.11% (2019) (annual %): • Diverse resources: agricultural wealth (world's largest Labor force, total: 8,785,581 (2020) producer of cocoa, coffee, sugar, cashew nuts, Unemployment, total (% of 3.42% (2020) rubber), hydrocarbons, and ore (gold, copper, iron, total labor force) (modeled ILO estimate): manganese, bauxite) Location: Western Africa Imports of goods and services $13.24 billion (2019) • Infrastructure undergoing modernization Capital City: Yamoussoukro (0 GMT) (current US$): • Expanding middle class, although poverty still affects Chief of State: President Alassane Ouattara Exports of goods and services $13.92 billion (2019) 40% of the population and child labor has not been (current US$): Head of Govt.: Prime Minister Patrick Achi eradicated Currency: Communaute Financiere Africaine GDP Composition % franc (XAF) Agriculture Services Industry Manufacturing • Improving business climate and governance Major Languages: <p>French (official), 60 native dialects • Inflation kept in check through membership of the with Dioula the most widely WAEMU and its common currency spoken</p> 43 21 21 12 Weaknesses Primary Religions: <p>Muslim 42.9%, Catholic 17.2%, Evangelical 11.8%, Methodist 1.7%, *Although Manufacturing is included in the Industry figures, it is also separately • Vulnerable to climatic hazards and changes in the other Christian 3.2%, animist 3.6%, reported because it plays a critical role in economy. price of cocoa, the main export product; agriculture other religion 0.5%, none 19.1%</p> Rankings accounts for 22% of the value-added of GDP, but <p>note: the majority of foreign Index Rank employs 70% of the population and represents 40% migrant workers are Muslim (72.7%) Corruption Perceptions Index 106 / 180 and Christian (17.7%) (2014 est.)</p> of exports Global Competitiveness Index 118 / 141 Calling Code: 225 • Processing of agricultural products occupies a small Global Enabling Trade Index 105 / 136 Voltage: 220 Index of Economic Freedom 78 / 179 place: the manufacturing industry represents 13% of GDP and its products makeup 8% of exports Key Websites International Logistics Performance Index (LPI) 50 / 160 Inward FDI Potential Index 126 / 139 • Deficiencies remain in the management of public Main Government Page: gouv.ci KOF Index of Globalization 120 / 185 finances, infrastructure, access to banking services Commerce Ministry: commerce.gouv.ci Networked Readiness Index (NRI) 106 / 139 and the business environment, despite the progress Investment Promotion cepici.gouv.ci Open Budget Index 85 / 115 Agency: made • Low government revenues: 14% of GDP • Massive informal economy: 90% of employment and 70% of added value; illegal cocoa production undermines prices • Large wealth gap between Abidjan and the rest of the Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV Cote d'Ivoire country • Slow progress in national reconciliation U.S. Embassy U.S. Embassy Abidjan Cocody Riviéra Golf, 01 BP 1712 Abidjan 01 Abidjan, Côte d'Ivoire Tel: (+225) 22-49-40-00 https://ci.usembassy.gov Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV.