Public Management

Côte d'Ivoire's trade balance shifts to surplus in 2023 driven by key exports

Côte d'Ivoire's trade balance shifts to surplus in 2023 driven by key exports
Tuesday, 27 February 2024 16:00

Ivorian exports in 2023 were mainly dominated by key products including cocoa and its derivatives, petroleum products, raw gold, and natural rubber, which collectively accounted for 70.1% of total exports.

Côte d'Ivoire’s trade balance saw a significant upturn, recording a surplus of CFA850 billion ($1.4 billion), a report from the Ivorian customs authorities showed. This figure reflects a major improvement from the CFA866 billion deficit seen in 2022.

The report highlighted that exports surged to CFA12,301 billion in 2023, up from CFA9,204 billion the previous year. Improvement was also observed for imports, which grew from CFA10,070 billion to CFA11,451 billion during the same period.

Authorities reported that cocoa beans and their derivatives, along with petroleum products, raw gold, and natural rubber made up 70.1% (CFA 8,625 billion) of total Ivorian exports in 2023, significantly contributing to the surplus. Mali emerged as Côte d'Ivoire's top trading partner, buying CFA1,817.8 billion worth of goods from the country. The Netherlands and Switzerland followed closely with purchases worth CFA1,281.3 billion and CFA1,180.8 billion, respectively.

On the import side, Côte d'Ivoire mainly acquired crude oil, petroleum products, mechanical machinery, iron, and rice. Collectively, these products represented 41.3% of the total import value, which amounted to CFA4,734 billion over the period. China stood out as the country's main supplier, with exports valued at CFA1,695.2 billion in 2023. Nigeria and France also ranked as significant contributors, with respective values of CFA1,602.2 billion and CFA638.1 billion.

These positive trends have bolstered Côte d'Ivoire's position in the regional economic landscape. By the third quarter of 2023, Côte d'Ivoire's exports accounted for 55.6% of the total sales of the West African Economic and Monetary Union (WAEMU).

It is worth noting that from 2019 to 2023, Côte d'Ivoire's trade balance has remained in surplus, except for 2022, which was marked by a significant increase in the prices of imported goods, particularly crude oil, customs administration revealed.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Central African Republic seeks $12B for 2024-2028 development plan• 58 projects target agriculture, mining, energy, transport, and health• Goal:...
• S&P Global Ratings lowered Botswana's sovereign credit rating to BBB from BBB+, maintaining a negative outlook.• The downgrade stems from collapsing...
• Only six of Nigeria's 13 listed banks currently meet the Central Bank of Nigeria's (CBN) new recapitalization requirements.• The CBN significantly...
• Kenyan lender Equity Bank has initiated steps to enter the Ethiopian banking market, recently opened to foreign investment.• Ethiopia offers a market of...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...

In Nigerian, Bank Technology Failures Pushed OPay and PalmPay to Leadership in Daily Payments
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
05

• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...

WAEMU fintech industry strengthens with two new BCEAO regulatory approvals
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.