Homepage

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

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

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.

Most Read
01

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
02

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
03

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
04

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
05

Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...

“Private Investors Are Not Philanthropists: Risk Must Be Shared” — Tarek Toko Chabi, BOAD
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.