Strong growth recorded during the period 2012-2019 (average of 8.1%).
Good recovery starting in 2021 after a slowdown in 2020 (0.7%) due to COVID-19.
Growth mainly driven by final consumption and investment, with respective contributions of 3.2 and 2.3 percentage points in 2023.
Demand dominated by final consumption, accounting for 78.0% of GDP in 2023, projected to average around 75.7% during the period 2024-2025.
Investment rate has been increasing since 2020 (20.3%), expected to reach 25.6% in 2023 and projected to average 26.6% during the period 2024-2025.
Sources: MEPD/DGE, ANStat
Investment Rate Evolution (in %)
Demand Structure
The structure of demand in the Ivorian economy is dominated by final consumption, which decreased from 78.4% in 2018 to 78.0% in 2023. However, there is noted dynamism in investments, increasing its weight in the economy from 22.5% in 2018 to 25.6% in 2023. During the period 2024-2025, demand is expected to consist of approximately 75.7% on average from final consumption compared to 26.5% on average for investment.
Sources: MEPD/DGE, ANStat
Demand Evolution
In 2023, growth was driven by the dynamism of investments (+9.3% after +13.9% in 2022) and the strengthening of final consumption (+4.5% compared to +5.3% in 2022).
Investments were supported by the initiation and continuation of several projects related to (i) roads and interchanges as part of the Abidjan urban transport project, (ii) the Yamoussoukro-Bouaké highway section Tiébissou-Bouaké, (iii) the bypass highway of the city of Yamoussoukro, (iv) the Gribo Popoli hydroelectric dam, (v) the San-Pédro coal power plant, (vi) the Aboisso biomass power plant, and (vii) the solar power plants in Boundiali, Laboa, and Touba. Investments also benefited from the strengthening of the road network and production tools in the industrial and construction sectors.
Thus, the overall investment rate stood at 25.6% of GDP compared to 25.2% in 2022. The public investment rate was set at 6.8% after 7.2% in 2022.
The increase in final consumption is linked to the consolidation of public consumption (+3.5% after +11.1% in 2022) and household consumption (+4.7% after +4.4% in 2022), which benefited from rising incomes and job creation.
In terms of external trade, imports of goods and services increased by 8.4% after 58.3% in 2022, driven by the dynamism of the economy.
Exports of goods and services rose by 2.5% after an increase of 47.9% in 2022, due to the good performance of petroleum products.
In 2024, growth is expected to be 6.1%, driven by the dynamism of investments (+8.1%) and the strengthening of final consumption (+3.3%).
The overall investment rate is expected to be 26.2% of GDP compared to 25.6% in 2023. The public investment rate would be set at 7.0% after 6.8% in 2023.
In terms of external trade, imports of goods and services are expected to rise by 5.2% after 8.4% in 2023, driven by the dynamism of the economy.
Exports of goods and services would see an increase of 6.2% after 2.5% in 2023, due to the good performance of mining and processed products.
Real GDP Growth: Demand Perspective (in %)
| Designation | 2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 (prov.) |
2023 (est.) |
2024 (prev.) |
2025 (prev.) |
| Final Consumption | 6.2 |
6.4 |
5.9 |
5.8 |
1.4 |
5.4 |
5.3 |
4.5 |
3.4 |
3.7 |
| Investment | 9.3 |
1.2 |
6.9 |
11.4 |
3.8 |
14.9 |
13.9 |
9.3 |
8.1 |
8.1 |
| Exports | -2.2 |
22.0 |
-13.1 |
6.5 |
-1.3 |
16.6 |
46.6 |
3.0 |
5.9 |
7.5 |
| Imports | -3.7 |
3.0 |
5.6 |
6.3 |
14.5 |
16.2 |
58.8 |
9.1 |
7.2 |
5.6 |
| Real GDP | 7.2 |
7.4 |
4.8 |
6.7 |
0.7 |
7.1 |
6.2 |
6.5 |
6.1 |
6.3 |
Sources: MEPD/DGE, ANStat