One of the major objectives of Ivorian trade policy is to improve the trade balance through an increase in exports, specifically of processed products, and a strengthening of the local supply of substitute products for certain imports. Consequently, the Government has committed to revitalizing its trade exchanges by increasing competitiveness and diversifying its export products, as well as supporting and assisting exporting companies.
This dynamic is supported by the implementation of policies, strategies, reforms, and actions aimed at strengthening the trade regime based on economic liberalism. This includes: (i) the implementation of the ECOWAS Common External Tariff (CET); (ii) the promotion of bilateral, regional, and multilateral trade agreements; (iii) the diversification of trade partners and export products; (iv) the operationalization of trade facilitation tools.
Specifically, the external trade environment is characterized by the existence of:
- a National Committee for the African Continental Free Trade Area (CN-Zlecaf);
- a National Commission for Monitoring Economic Partnership Agreements with the European Union;
- a National Committee for Trade Facilitation (CNFE);
- a National AGOA Strategy (SNA) with an action plan estimated at 6 billion CFA francs for the period 2018-2022. This strategy allows companies to export more effectively to the American market without customs duties;
- a Single Window for Foreign Trade (GUCE) with one of its objectives being to accelerate customs clearance operations;
- a web portal for trade obstacles that allows importing and exporting companies to alert the relevant authorities about encountered obstacles (https://www.tradeobstacles.org/cotedivoire);
- a web portal for trade information (pwic.gouv.ci) that gathers information related to imports and exports to and from Côte d'Ivoire;
- an import/export hub (hubducommerce.ci) created in 2023;
- a National Trade Information Network (RNIC) aimed at increasing the competitiveness of companies operating in Côte d'Ivoire by providing them with reliable trade information;
- a Verification of Compliance (VOC) program for goods before shipment to the country. The objectives of this program are to (i) reduce the possibilities of fraud and counterfeiting in import operations, (ii) improve the safety and quality of imported goods in accordance with Ivorian standards and specifications; (iii) ensure traceability of foreign products placed on the Ivorian market, (iv) guarantee quality consumption for the population, (v) secure local industrial production, and (vi) combat unfair competition;
- the dematerialization of procedures related to trade exchanges;
- the production of harmonized statistical data on foreign trade in general and on opportunities in the African market in particular;
- the development and implementation of the National Export Strategy (SNE) since 2014;
- the implementation of the interim economic partnership agreement (APEi) between Côte d'Ivoire and the EU;
- the creation of the Côte d'Ivoire Export Agency by decree n°1246 of February 2, 2022.
In order to develop exports, the Ivorian government is working to improve the competitiveness of exporting companies and to promote compliance with technical specifications and other international sanitary and phytosanitary measures.
RECENT EVOLUTION OF EXTERNAL TRADE EXCLUDING EXCEPTIONAL GOODS
From 2014 to 2022, Côte d'Ivoire's external trade was marked by an increase in exports and imports in value of 6.0% and 9.2% on average annually, respectively. The trade balance remained in surplus until 2021.
Specifically, in 2022, the value of exports increased by 19.9% compared to 2021, reaching 10,208 billion CFA francs, despite a drop in cocoa bean sales (-16.2%). This positive trend is mainly due to the increase in the value of crude oil sales (+63.4%), other petroleum products (+115.2%), natural rubber (+35.9%), and raw gold (+25.4%). Imports amounted to 11,218.5 billion, an increase of 44.2% compared to 2021. This rise in the import bill for goods is driven, among other things, by purchases of crude oil (+95.7%), other petroleum products (+164.4%), "Iron, cast iron, steel, and products made from these metals" (+40.1%), and mechanical machines (+28.9%). These developments resulted in a trade deficit of 1,010.5 billion CFA francs.
EXPORTS: STRUCTURE AND MAIN CLIENTS
Since 2016, the value of Côte d'Ivoire's goods exports has been characterized by the predominance of primary products. In 2022, they represented 41.3% of total exports, followed by processed products (40.6%) and mining products (18.1%).
In terms of primary products, cocoa beans rank first (19.9%), followed in second place by natural rubber (11.6%). Among processed products, processed cocoa is the most exported product (10.9%).
Structure of Goods Exports (in %)