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Mali and Burkina Faso Lead Côte d'Ivoire's Trade Gains in 2023

Friday, 03 May 2024 16:43
Mali and Burkina Faso Lead Côte d'Ivoire's Trade Gains in 2023

(Ecofin Agency) - 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.




Public Management

ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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