Ivory Coast is strengthening its role as an economic engine in West Africa, as evidenced by its remarkable industrial performance in the first half of 2024. Despite uncertainties surrounding the global economy, the country has managed to capitalize on its natural resources to achieve a growth of 5.5% in its industrial sector compared to the same period last year. This dynamism is largely based on the strength of the extractive industries, which saw a growth of 21.8%.
The hydrocarbon sector stands out as the main driver of this progress, with an impressive increase of 46.8%, highlighted by a spectacular jump of 92.4% in crude oil production. This performance is attributed to the emergence of new fields as well as sustained investments in oil and gas infrastructure.
The mining industry also contributes to this momentum, with a growth of 13.8% in the production of metallic ores, including gold, which saw an increase of 20.5%. This development is part of a national strategy aimed at enhancing the mining sector's contribution to the economy while stimulating interest from international investors.
However, this dynamism does not mask certain difficulties. Support activities for the extractive sector recorded a marked decline of 54.7% in June 2024, likely due to external factors such as logistical disruptions or security uncertainties in certain regions. Despite this contraction, the extractive sector showed a 15% increase in volume for the month of June alone, confirming the strength of hydrocarbon production (+55.8%) and the resilience of the mining industry (+2.8%).
These results highlight Ivory Coast's ability to overcome external shocks and maximize the potential of its natural resources. By diversifying its growth drivers, the country is consolidating its position as a regional economic power while opening promising prospects for the entire West Africa region.
Source : Sika finance, Web Portal MEPD Editorial
