Ivory Coast - Country Information

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Improving infrastructure

Also known as Ivory Coast, Côte d’Ivoire is embarking on massive upgrading of its infrastructure, with significant investments from the public and private sectors. The government itself plans to spend US$60 billion on infrastructure projects between 2016 and 2020. National and regional transport infrastructure as well as power supply reliability are expected to show great improvements over the coming decade. These improvements in infrastructure will also have positive spillovers for the greater economy, stimulating business activity and boosting household spending.

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Favourable economic conditions

Ivory Coast is expected to remain one of the world’s fastest growing economies, with continued investor confidence and strong foreign capital inflows. The government has also put in place ambitious plans to stimulate and enhance private investment to achieve emerging market status by 2020. The country's growth rate has been among the highest in the world for the last five years, and is expected to be around 7% in the coming years1.

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Political normalisation

Political stabilisation has been underway since the end of a long civil conflict in 2011. Current President Alassane Ouattara has focused on economic growth, driven by foreign investment, to normalise the political situation. He also revamped the nation’s agriculture and housing industries, which has played a part in bringing stability to the country. The completion of relatively peaceful presidential elections in 2015 and parliamentary elections in 2016 are testament to Ivory Coast's increased ability to manage its political process. In a sign of further stability, the United Nations’ peacekeeping mission formally left the country in June 2017.

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Venture to Ivory Coast

Ivory Coast is one of the fastest-growing economies in the world, with a GDP growth rate of 7.7% in 2016. With an estimated GDP of US$35.67 billion in 2016, Ivory Coast is currently the largest member of the West African Economic and Monetary Union (WAEMU). It aims to be the trading hub in West Africa and the gateway to the Economic Community of West African States (ECOWAS).

The government's National Development Plan aims to transform Ivory Coast into a middle-income economy by 2020. Ongoing and planned road, port and railway investments will boost national and regional trade. Improved security and political stability will encourage economic growth and the growth of consumer markets.

 

 

1: World Bank, 2017

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Geography: Ivory Coast is located in Western Africa, bordering Liberia, Guinea, Mali, Burkina Faso and Ghana. It has a total land area of 322,462 km2.

Population: 24.2 million (est. July 2017)

Ease of Doing Business Ranking: 139th (June 2017)

Economic Freedom Ranking: 75th (2017)

Trading Partner Ranking: 115 (2015) 

Bilateral Trade:  S$55.2 million (2016)

Currency used:  West Africa Franc (CFA)

Language: French (official), various local languages

Source: CIA World Factbook

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Yamoussoukro has been the official capital since 1983. However, Abidjan is still considered the primary economic and administrative centre, owing to the slow transfer of government functions. It is located about 274km northwest of Abidjan.

Geography: 3,500km2

Population: 259,000

Source: CIA World Factbook, 2014

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Ivory coast market page

Abidjan was the capital of colonial and then independent Ivory Coast until 1983, and remains the country’s largest city as well as its economic and administrative capital.

It has the largest port in the country, which is also the most modern port in West Africa, with an expansion of Terminal 3 underway. Centrally located and with a well-developed port, road and rail infrastructure, the port is the major transshipment port for land-locked countries such as Burkina Faso, Mali and Niger. Covering 2500 hectares of water surface and 50 hectares of land area, the Abidjan port is well furnished with warehouses, reefer storage and open storage areas.

Geography: 2,119km2

Population: 4.86 million

Source: CIA World Factbook, 2014

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