COUNTRY PROFILE / BRAZIL

Continent: America

Official Name: Federative Republic of Brazil

Type of Government: Presidential

Head of State: Luiz Inácio Lula da Silva

Area: 8,514,876 km²

Currency: Brazilian Real (BRL)

Population: Over 210 million inhabitants

Capital: Brasília

Major Cities: São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Salvador, Fortaleza, Curitiba, Recife, Belém, Goiânia

Official Language: Portuguese

Agreements and Conventions

Several cooperation agreements exist between Côte d'Ivoire and Brazil, including:

• A Debt Restructuring Contract for the remaining balance of bilateral debt towards Brazil, amounting to 1.263 million USD, signed on March 8, 2018, by the Ivorian Ambassador to Brazil and the representative of the Brazilian Ministry of Finance.

• An Agreement on Air Services between the Government of the Republic of Côte d'Ivoire and the Government of the Federative Republic of Brazil, signed on October 13, 2017, in Abidjan.

• A Technical Cooperation Agreement on sustainable development of aquaculture and fishing, signed on July 21, 2014.

• Financing of 430 million CFA francs for the sustainable development project of fishing and aquaculture by the Brazilian Government, signed on April 23, 2014.

• A Memorandum of Understanding between the Government of the Republic of Côte d'Ivoire and the Government of the Federative Republic of Brazil for the reactivation of the Joint Commission for Economic, Technical, Cultural, Commercial, Scientific, and Technological Cooperation, signed on February 4, 2014, in Brasília.

• A Memorandum of Understanding between the Government of the Republic of Côte d'Ivoire and the Government of the Federative Republic of Brazil on the establishment of a Consultation Mechanism, signed on February 4, 2014, in Brasília.

• A Memorandum of Understanding between the Brazilian Institute of Geography and Statistics (IBGE), the Brazilian Cooperation Agency (ABC), and the National Institute of Statistics of Côte d'Ivoire (INS) for the General Population Census of Côte d'Ivoire (RGPH), signed on February 4, 2014, in Brasília.

• The Cancellation of Côte d'Ivoire's Debt contracted with Brazil, on November 30, 2013.

• An Additional Protocol to the Technical and Scientific Cooperation Agreement between the Government of the Republic of Côte d'Ivoire and the Government of the Federative Republic of Brazil, signed in May 1987.

• Three Cooperation Agreements in the fields of sports, public administration, women's promotion, and social affairs, signed on March 19, 1983.

 

A. Main Exports from Côte d'Ivoire to Brazil:

Cocoa beans, Processed cocoa, Cashew nuts, Rubber

B. Main Imports by Côte d'Ivoire from Brazil:

Edible meats and offal, Sugar, Beverages, Tobacco, Plastics, Iron, cast iron, steel, and steel products, Chemicals and inelastic equipment (mechanical and electrical machinery)

Trade Flows Côte d'Ivoire-Brazil (Value in millions CFA)
Years	2019	2020	2021	2022	2023
Exports	76,715	37,364	50,507	82,900	65,500
Imports	43,641	46,791	88,700	121,400	97,800
Trade Balance	33,074	-9,427	-38,174	-38,500	-32,300
Total Bilateral Trade	120,356	84,155	139,188	204,300	163,300

Sources : DGE-DPPSE

 

Sources : DGE-DPPSE

 

• Exports from Côte d'Ivoire to Brazil have experienced significant fluctuations. They dropped sharply in 2020 due to the impact of the COVID-19 pandemic. In 2021, exports rebounded, increasing by 35% compared to the previous year. In 2022, they continued to grow substantially, reaching their highest level during the period, before decreasing again in 2023, although remaining well above 2020 levels. For the period 2019-2023, the average value of Ivorian exports is estimated at 62.20 billion CFA francs per year;

 

• Imports from Brazil have shown an upward trend, peaking in 2022. In 2023, imports slightly decreased compared to 2022 but remained well above previous years' levels, indicating strong demand for Brazilian products. For the period 2019-2023, the average value of Ivorian imports is estimated at 79.27 billion CFA francs per year;

 

• The trade balance shows that Côte d'Ivoire had a trade surplus in 2019 but switched to a deficit starting in 2020. The deficit widened in 2021 and 2022, indicating that Côte d'Ivoire imported more compared to its exports to Brazil. In 2023, the trade deficit decreased, although still negative, signaling a relative improvement.

 

• Total bilateral trade shows a general upward trend with a decrease in 2020, likely due to the pandemic. The recovery in 2021 and the substantial increase in 2022 indicate strengthening trade relations between the two countries. In 2023, although total trade decreased compared to 2022, it remains high.

 

These trends reflect a dynamic and evolving trade relationship, with challenges to address in terms of the trade balance for Côte d'Ivoire.