Ivory Coast flag Ivory Coast: Economic and Political Overview

Foreign trade figures of the Ivory Coast

Foreign Trade in Figures

The Ivory Coast is the hub of commercial activities in West Africa. The share of foreign trade in the country's GDP is 53% (World Bank, latest available data). Exports are mainly composed of primary products, including industrial and export-oriented agricultural goods (37.8% of total exports) and extractive products (17.2%), along with manufactured goods (22.3%) and semi-processed products (19.6%). Specifically, exports are dominated by cocoa (both processed and unprocessed, accounting for 31.6% of total sales), petroleum products and crude oil (14.8%), gold (12.8%), natural rubber (11.2%), and cashew nuts (6.8%). The largest category of imports consists of intermediate goods (31.5% of total imports), followed by non-food consumer goods (26.5%), capital goods (20%), and food products (17.2%). Specifically, the main imported products are petroleum products and crude oil (25.5%), machinery (10.8%), transport equipment (9.5%), and cereals (5.3% - data French Ministry of Economy for 2023).

The Ivory Coast is a member of the UEMOA (West African Economic and Monetary Union), which enforces a Common External Tariff (CET). It also belongs to the Free Trade Zone. In 2008, the Ivory Coast signed a stepping stone economic partnership agreement (EPA) with the European Union (EU). This agreement entered into provisional application on 3 September 2016 and essentially aims at maintaining the preferential trade system that exists between the EU and the Ivory Coast (Nigeria is the only country in the region that has is yet to sign the EPA, which is why the agreement is not yet applied). It will be replaced by the regional EU-West Africa EPA. Ivory Coast is also a signatory to the African Continental Free Trade Agreement. Data from the French Ministry of Economy show that, after losing the top spot in 2022, the Netherlands regained its position as Ivory Coast's largest export partner in 2023, with its share rising significantly to 11.5% (up from 8.7% in 2022). Switzerland ranked second, also seeing an increase in its share to 10.6% (from 8.1% in 2022). Mali followed with a share of 8.7%, while Malaysia and Vietnam each hold 5%. China remained Ivory Coast's largest supplier (since 2016), with a 14.8% market share in 2023, an increase of 0.4 percentage points from the previous year. Nigeria followed with a 14% share (up from 12.1% in 2022). France, India, and the United States completed the top five, with respective shares of 5.6%, 5.2%, and 3.9%.

According to the WTO, Colombia exported USD 20.2 billion worth of goods while it imported USD 18.8 billion in 2023 (+23.3% and +18.5% y-o-y, respectively). The increase in exports was mainly driven by higher sales of processed cocoa, gold, and cashew nuts. Including services, the World Bank estimated the trade deficit at 4.8% of GDP (from 7.6% one year earlier). Preliminary government figures show that, in the last quarter of 2024, the Customs Directorate achieved 96.5% of its annual target, with customs revenue amounting to XOF 2,728.67 billion, reflecting a growth rate of 9.56% compared to the previous year. For 2025, the target set is XOF 3,325 billion.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 10,48310,52713,96617,88918,887
Exports of Goods (million USD) 12,71812,45415,33416,42920,263
Imports of Services (million USD) 3,4033,1423,9243,858n/a
Exports of Services (million USD) 1,162732910958n/a

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20192020202120222023
Foreign Trade (in % of GDP) 44.741.945.153.452.6
Trade Balance (million USD) 3,1512,9823,0531,075n/a
Trade Balance (Including Service) (million USD) 91057240-2,738n/a
Imports of Goods and Services (Annual % Change) 3.97.015.958.410.5
Exports of Goods and Services (Annual % Change) 9.8-8.217.349.48.6
Imports of Goods and Services (in % of GDP) 22.020.922.828.928.1
Exports of Goods and Services (in % of GDP) 22.721.022.324.524.5

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20242025 (e)2026 (e)2027 (e)2028 (e)
Volume of exports of goods and services (Annual % change) 0.16.78.310.36.8
Volume of imports of goods and services (Annual % change) 7.18.57.07.77.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Côte d'Ivoire is a member of the Economic Commmunity of West African States (ECOWAS), and of the West African Economic and Monetary Union (UEMOA).
 

Main Partner Countries

Main Customers
(% of Exports)
2023
Netherlands 11.5%
Switzerland 10.6%
Mali 8.7%
Malaysia 5.0%
Vietnam 5.0%
See More Countries 59.3%
Main Suppliers
(% of Imports)
2023
China 14.8%
Nigeria 14.0%
France 5.6%
India 5.2%
United States 3.9%
See More Countries 56.4%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

18.4 bn USD of products exported in 2023
Cocoa beans, whole or broken, raw or roastedCocoa beans, whole or broken, raw or roasted 18.1%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 12.8%
Natural rubber, balata, gutta-percha, guayule,...Natural rubber, balata, gutta-percha, guayule, chicle and similar natural gums, in primary forms or in plates, sheets or strip 11.2%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 11.0%
Coconuts, Brazil nuts and cashew nuts, fresh or...Coconuts, Brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled 6.8%
See More Products 40.0%
18.8 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 15.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 7.8%
Light-vessels, fire-floats, dredgers, floating...Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability of which is subsidiary to their main function; floating docks, floating or submersible drilling or production platforms (excl. fishing vessels and warships) 4.9%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 4.4%
RiceRice 3.8%
See More Products 63.6%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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Latest Update: May 2025