In 2023, Côte d'Ivoire's most significant commercial gain was achieved collectively with Mali and Burkina Faso, despite being the 3rd and 6th individual clients. Official data shows that they purchased CFA1,444.6 billion worth of Ivorian products, solidifying their pivotal role in the country's trade relations.
Unlike major clients like the Netherlands and Switzerland, which mainly purchase raw Ivorian materials like cocoa, palm oil, rubber, and cashew nuts, Mali and Burkina Faso engage in a broader range of trade, contributing to a substantial CFA1,429.51 billion surplus for Côte d'Ivoire in 2023.
These figures, less known to the public, challenge the common perception that France, despite ranking 9th in clients, wields significant control over the Ivorian market through the common currency, the FCFA. Data reveals a surge in trade between Côte d'Ivoire and its Malian and Burkinabe partners since 2019, with sales doubling from CFA705.5 billion to CFA1,444.6 billion in 2023.
This trade dynamic highlights the resilience of historical trade routes connecting Abidjan to Bamako in Mali and Bobo-Dioulasso/Ouagadougou in Burkina Faso, despite regional differences. However, it's crucial to note that while Mali and Burkina Faso hold a privileged client status, this relationship has minimal impact on Côte d'Ivoire's balance of payments due to the common use of the FCFA in these countries.
This is a fact that should weigh in the balance when the leaders of Burkina Faso and Mali, in particular, consider the direction they want to take with this currency, inherited from colonization and now denounced by a section of public opinion. The stakes are also high for Côte d'Ivoire, which could see its economic expansion slow down if it loses these two brand-name customers.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...