Economy of Ivory Coast
The economy of Ivory Coast is stable and currently growing, in the aftermath of political instability in recent decades. Ivory Coast's economy is largely market-based and depends heavily on the agricultural sector. Almost 70% of the Ivorian people are engaged in some form of agricultural activity. The economy grew 82% in the 1960s, reaching a peak growth of 360% in the 1970s, but this proved unsustainable and it shrank by 28% in the 1980s and a further 22% in the 1990s. This decline, coupled with high population growth, resulted in a steady fall in living standards. The gross national product per capita, now rising again, was about US$727 in 1996. It was substantially higher two decades before. Real GDP growth is expected to average 6.5% in 2024–25.
After several years of lagging performance, the Ivorian economy began a comeback in 1994, due to the devaluation of the CFA franc and improved prices for cocoa and coffee, growth in non-traditional primary exports such as pineapples and rubber, limited trade and banking liberalization, offshore oil and gas discoveries, and generous external financing and debt rescheduling by multilateral lenders and France. The 50% devaluation of franc zone currencies on 12 January 1994 caused a one-time jump in the inflation rate to 26% in 1994, but the rate fell sharply from 1996–1999. Moreover, government adherence to donor-mandated reforms led to a jump in growth to 5% annually in 1996–99. A majority of the population remains dependent on smallholder cash crop production.
Infrastructure
By developing-country standards, Ivory Coast has an outstanding infrastructure. There is a network of more than of paved roads; modern telecommunications services, including a public data communications network; cellular phones and Internet access; two active ports, one of which, Abidjan, is the most modern in West Africa; rail links-in the process of being upgraded-both within the country and to Burkina Faso; regular air service within the region and to and from Europe; and real estate developments for commercial, industrial, retail, and residential use. Ivory Coast's location and connections to neighboring countries makes it a preferred platform for foreigners to conduct West African business operations. The city of Abidjan is one of the most modern and liveable cities in the region.The government's public investment plan accords priority to investment in human capital, and to provide for significant spending on the economic infrastructure needed to sustain growth.
In the new environment of government disengagement from productive activities and in the wake of recent privatizations, anticipated investments in the petroleum, electricity, water, and telecommunications sectors, and in part of the transport sector, will be financed without any direct government intervention.
Mean wages were $1.05 per man-hour in 2009.
Agriculture
Ivory Coast produced, in 2018:- 7.2 million tonnes of yam
- 5 million tons of cassava
- 2.1 million tons of palm oil
- 2.1 million tons of rice
- 1.9 million tons of cocoa
- 1.9 million tons of sugar cane
- 1.8 million tons of plantain
- 1 million tons of maize
- 688 thousand tons of cashew nuts
- 461 thousand tons of natural rubber
- 397 thousand tons of banana
- 316 thousand tons of cotton
Ivory Coast is among the world's largest producers and exporters of cocoa beans and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and to weather conditions. Despite attempts by the government to diversify the economy, it is still largely dependent on agriculture and related activities. Forced labor by children bought and sold as slaves are endemic in cacao production.
Energy
Côte d'Ivoire's energy supply relies on several hydroelectric stations and gas-to-power plants that make use of the country's hydraulic and natural gas resources. Over recent years, the country has also sought to develop its solar industry and is setting up several solar PV plants to diversify its energy mix.Côte d'Ivoire also holds oil and natural gas resources offshore, though production has remained small compared to other African neighbours such as Ghana or Nigeria. For example, in 2021, it only produced about 25,000 barrels of oil per day.
Since 2021, the Italian energy company Eni has made multiple oil and gas discoveries in the offshore Baleine Field and begun their development. In December 2024, its production facilities there entered their second phase, generating 70m cubic feet of gas and 60,000 barrels of oil per day.
Mining
In 2019, the country was the 9th largest world producer of manganese.In the production of gold, in 2017 the country produced 20.3 tons.
Rubber
Ivory Coast has emerged as a significant player in the global rubber market. In 2022, the nation produced 1.55 million tonnes of natural rubber, surpassing Vietnam to become the world's third-largest producer. This significant increase from 815,000 tonnes in 2019 can be attributed to several factors, including a shift by Ivorian farmers from cacao to rubber cultivation. This shift is driven by the potential benefits of European sustainability regulations, which will take effect in 2025.Tourism
Ivory Coast has made progress in diversifying its economy, and since the 1970s, has steadily expanded the facilities offered to tourists. Resort lodgings in coastal areas have been developed. There are numerous hotels in Abidjan, including international chains such as Novotel and Sofitel.External trade and investment
Foreign direct investment plays a key role in the Ivorian economy, accounting for between 40% and 45% of total capital in Ivorian firms. France is overwhelmingly the most important foreign investor. In recent years, French investment has accounted for about one-quarter of the total capital in Ivorian enterprises, and between 55% and 60% of the total stock of foreign investment capital.The stock market capitalisation of listed companies in Ivory Coast was $2,327 million in 2005 by the World Bank.
In March 2025, Côte d'Ivoire was scheduled to carry out its first bond issue in CFA Francs on the international market.
Economic data
Main indicators
The following table shows the main economic indicators in 1980–2023.| Year | GDP | GDP per capita | GDP | GDP growth | Inflation | Government debt |
| 1980 | 20.7 | 2,585 | 13.9 | 5.2% | 8.8% | ... |
| 1985 | 27.4 | 2,874 | 9.5 | 3.6% | 1.8% | ... |
| 1990 | 34.3 | 3,051 | 14.9 | −1.0% | −0.7% | ... |
| 1995 | 40.8 | 2,882 | 15.2 | 5.6% | 14.1% | ... |
| 2000 | 52.9 | 3,279 | 14.9 | −2.1% | 2.5% | 74% |
| 2005 | 59.3 | 3,235 | 23.6 | 1.7% | 3.9% | 58% |
| 2006 | 62.1 | 3,300 | 24.6 | 1.5% | 2.5% | 57% |
| 2007 | 64.9 | 3,361 | 28.2 | 1.8% | 1.9% | 53% |
| 2008 | 67.8 | 3,424 | 33.6 | 2.5% | 6.3% | 51% |
| 2009 | 70.5 | 3,468 | 33.7 | 3.3% | 1.0% | 46% |
| 2010 | 72.8 | 3,489 | 34.4 | 2.0% | 1.4% | 46% |
| 2011 | 70.7 | 3,303 | 35.5 | −4.2% | 4.9% | 50% |
| 2012 | 78.2 | 3,563 | 37.0 | 10.1% | 1.3% | 25% |
| 2013 | 86.4 | 3,834 | 43.2 | 9.3% | 2.6% | 25% |
| 2014 | 97.9 | 4,237 | 48.9 | 8.8% | 0.4% | 27% |
| 2015 | 108.1 | 4,558 | 45.8 | 8.8% | 1.2% | 29% |
| 2016 | 113.7 | 4,672 | 48.4 | 7.2% | 0.6% | 31% |
| 2017 | 120.2 | 4,814 | 52.5 | 7.4% | 0.6% | 33% |
| 2018 | 129.0 | 5,038 | 58.5 | 4.8% | 0.6% | 35% |
| 2019 | 139.9 | 5,324 | 59.9 | 6.5% | 0.8% | 38% |
| 2020 | 144.2 | 5,348 | 63.1 | 1.7% | 2.4% | 46% |
| 2021 | 161.2 | 5,828 | 71.8 | 7.0% | 4.2% | 51% |
| 2022 | 184.0 | 6,486 | 70.2 | 6.7% | 5.2% | 57% |
| 2023 | 202.6 | 6,960 | 79.4 | 6.2% | 4.3% | 57% |
Other data
GDP – composition by sector:agriculture: 17.4%
industry: 28.8%
services: 53.8%
Labor force:
8.747 million
Unemployment rate:
9.4%
Population below poverty line:
46.3%
Household income or consumption by percentage share:
lowest 10%: 2.2%
highest 10%: 31.8%
Distribution of family income – Gini index:
41.5
Investment :
8.7% of GDP
Budget:
revenues: $7.121 billion, expenditures: $8.886 billion
Agriculture – products:
coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc, sweet potatoes, sugar, cotton, rubber; timber
Industries:
foodstuffs, beverages; wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity
Industrial production growth rate:
7%
Electricity – production:
8.262 billion kWh
Electricity – consumption:
5.669 billion kWh
Electricity – exports:
872 million kWh
Electricity – imports:
23 million kWh
Oil – production:
30,000 bbl/day
Oil – consumption:
Oil – exports:
34,720 bbl/day
Oil – imports:
65,540 bbl/day
Oil – proved reserves:
100 million bbl
Natural gas – production:
2.063 billion cu m
Natural gas – consumption:
2.063 billion cu m
Natural gas – exports:
0 cu m
Natural gas – imports:
0 cu m
Natural gas – proved reserves:
28.32 billion cu m
Current account balance:
$-$490 million
Exports:
$11.08 billion
Exports – commodities:
cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish
Exports – partners:
Netherlands 11.8%, US 7.9%, France 6.4%, Belgium 6.4%, Germany 5.8%, Burkina Faso 4.5%, India 4.4%, Mali 4.2%
Imports:
$8.789 billion
Imports – commodities:
fuel, capital equipment, foodstuffs
Imports – partners:
Nigeria 15%, France 13.4%, China 11.3%, US 4.3%
Reserves of foreign exchange and gold:
$4.688 billion
Debt – external:
$12.38 billion
Economic aid – recipient:
ODA, $1 billion
Currency :
Communaute Financiere Africaine franc ; note – responsible authority is the Central Bank of the West African States
Exchange rates:
Communaute Financiere Africaine francs per US dollar – 594.3 593.01 593.01 591.45 494.42
Fiscal year:
calendar year