Côte d'Ivoire remains the largest market in the UEMOA. It accounts for nearly 21% of the total population of the Union in 2023. Furthermore, it is the leading economic power, contributing on average nearly 40% of the nominal GDP of the UEMOA.

From 2015 to 2023, Côte d'Ivoire has the most dynamic economy in the UEMOA zone, with an average annual growth rate of 6.2%, which is higher than that of the Union (5.4%).

 

 

Source : World Bank

 

Source : Multilateral Surveillance Report UEMOA

 

Source: Multilateral Surveillance Report (RSM), June 2024

 

Source: Multilateral Surveillance Report (RSM), June 2024

 

 

Source: Multilateral Surveillance Report (RSM), June 2024

 

Source: Multilateral Surveillance Report (RSM), June 2024

Structure of the UEMOA Population in 2023 (in thousands)

Country

Population (millions)

Weight (%)

Benin

13.7

9.3

Burkina Faso

23.2

15.7

Côte d'Ivoire

31.0

21.0

Guinea-Bissau

2.1

1.4

Mali

23.3

15.8

Niger

27.2

18.5

Senegal

17.8

12.1

Togo

9.1

6.2

WAEMU

147.4

100.0

Source: World Bank

Nominal GDP (in billions of FCFA) 

States

2018

2019

2020

2021

2022

2023

Average 2018-2023

Weight (%)

Benin

7,922.0

8,432.2

9,008.8

9,809.7

10,854.5

11,934.9

9,660.4

9.7

Burkina Faso

8,826.1

9,393.8

10,202.3

10,892.7

11,752.8

12,344.5

10,568.7

10.6

Côte d'Ivoire

32,506.1

35,379.0

36,278.0

40,366.9

43,771.2

47,790.9

39,348.7

39.4

Guinea-Bissau

863.2

930.8

947.6

1,028.0

1,120.7

1,242.5

1,022.1

1.0

Mali

9,482.0

10,124.7

10,052.8

10,707.7

11,714.4

12,680.3

10,793.6

10.8

Niger

7,114.5

7,567.8

7,911.2

8,270.8

9,621.0

10,201.9

8,447.9

8.5

Senegal

12,840.1

13,712.7

14,119.4

15,261.1

17,227.9

18,711.7

15,312.1

15.4

Togo

3,904.4

4,097.1

4,259.5

4,626.0

5,095.8

5,563.0

4,591.0

4.6

WAEMU

83,458.3

89,638.1

92,779.7

100,962.9

111,158.3

120,469.6

99,744.5

100.0

 

Source: Multilateral Surveillance Report (RSM) 

 

Nominal GDP (as % of total Union)

States

2018

2019

2020

2021

2022

2023

Benin

9.5%

9.4%

9.7%

9.7%

9.8%

9.9%

Burkina Faso

10.6%

10.5%

11.0%

10.8%

10.6%

10.2%

Côte d'Ivoire

38.9%

39.5%

39.1%

40.0%

39.4%

39.7%

Guinea-Bissau

1.0%

1.0%

1.0%

1.0%

1.0%

1.0%

Mali

11.4%

11.3%

10.8%

10.6%

10.5%

10.5%

Niger

8.5%

8.4%

8.5%

8.2%

8.7%

8.5%

Senegal

15.4%

15.3%

15.2%

15.1%

15.5%

15.5%

Togo

4.7%

4.6%

4.6%

4.6%

4.6%

4.6%

WAEMU

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Source: Multilateral Surveillance Report (RSM)

 

Money Supply (in billions of FCFA)

States

2018

2019

2020

2021

2022

2023

Average 2018-2023

Weight (%)

Benin

2,213.0

2,346.0

2,751.9

3,210.5

3,628.3

3,613.9

2,960.6

8.0

Burkina Faso

3,718.3

4,056.4

4,779.2

5,585.1

5,716.9

5,552.0

4,901.3

13.2

Côte d'Ivoire

9,723.7

10,770.1

13,042.6

15,487.4

16,878.6

17,440.1

13,890.4

37.5

Guinea-Bissau

365.0

366.0

399.2

482.6

499.5

494.0

434.4

1.2

Mali

2,744.4

2,991.8

3,657.1

4,320.0

4,783.1

4,729.1

3,870.9

10.4

Niger

1,126.2

1,295.8

1,516.2

1,663.8

1,862.1

1,844.9

1,551.5

4.2

Senegal

5,323.9

5,692.0

6,394.3

7,375.2

8,966.0

9,827.6

7,263.2

19.6

Togo

1,726.0

1,804.3

2,013.3

2,260.5

2,607.8

2,781.5

2,198.9

5.9

WAEMU

26,940.5

29,322.2

34,553.8

40,385.1

44,942.3

46,283.1

37,071.2

100

Source: Multilateral Surveillance Report (RSM)

 

Money Supply (as % of total Union)

States

2018

2019

2020

2021

2022

2023

Benin

8.2%

8.0%

8.0%

7.9%

8.1%

7.8%

Burkina Faso

13.8%

13.8%

13.8%

13.8%

12.7%

12.0%

Côte d'Ivoire

36.1%

36.7%

37.7%

38.3%

37.6%

37.7%

Guinea-Bissau

1.4%

1.2%

1.2%

1.2%

1.1%

1.1%

Mali

10.2%

10.2%

10.6%

10.7%

10.6%

10.2%

Niger

4.2%

4.4%

4.4%

4.1%

4.1%

4.0%

Senegal

19.8%

19.4%

18.5%

18.3%

20.0%

21.2%

Togo

6.4%

6.2%

5.8%

5.6%

5.8%

6.0%

WAEMU

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

 Source: Multilateral Surveillance Report (RSM)

 

FOB Exports (in billions of FCFA)

States

2018

2019

2020

2021

2022

2023

Average 2018-2023

Weight (%)

Benin

1,857.6

1,790.9

1,720.5

2,019.9

2,225.9

2,188.3

1,967.2

9.6

Burkina Faso

2,196.4

2,301.3

2,843.3

3,148.8

3,223.7

3,102.5

2,802.6

13.7

Côte d'Ivoire

6,619.6

7,399.2

7,194.8

8,495.5

10,138.6

10,959.9

8,467.9

41.4

Guinea-Bissau

188.6

145.7

123.1

166.3

152.9

138.1

152.4

0.7

Mali

1,991.4

2,153.4

2,759.4

2,693.8

3,147.5

3,273.2

2,669.8

13.1

Niger

668.2

659.7

642.3

671.9

642.1

597.9

647.0

3.2

Senegal

2,147.4

2,594.4

2,410.9

3,044.7

3,795.0

3,952.6

2,990.8

14.6

Togo

600.4

618.2

695.0

720.8

899.2

896.8

738.4

3.6

WAEMU

16,269.7

17,662.9

18,389.2

20,961.8

24,224.9

25,109.3

20,436.3

100

Source: Multilateral Surveillance Report (RSM)

 

Exports (as % of total Union)

States

2018

2019

2020

2021

2022

2023

Benin

11.4%

10.1%

9.4%

9.6%

9.2%

8.7%

Burkina Faso

13.5%

13.0%

15.5%

15.0%

13.3%

12.4%

Côte d'Ivoire

40.7%

41.9%

39.1%

40.5%

41.9%

43.6%

Guinea-Bissau

1.2%

0.8%

0.7%

0.8%

0.6%

0.5%

Mali

12.2%

12.2%

15.0%

12.9%

13.0%

13.0%

Niger

4.1%

3.7%

3.5%

3.2%

2.7%

2.4%

Senegal

13.2%

14.7%

13.1%

14.5%

15.7%

15.7%

Togo

3.7%

3.5%

3.8%

3.4%

3.7%

3.6%

WAEMU

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Source: Multilateral Surveillance Report (RSM)

 

FOB Imports (in billions of FCFA)

States

2018

2019

2020

2021

2022

2023

Average 2018-2023

Weight (%)

Benin

2,166.2

2,051.4

1,810.2

2,215.4

2,469.7

2,556.9

2,211.6

9.9

Burkina Faso

2,035.2

2,087.0

2,225.1

2,450.6

2,780.7

2,622.5

2,366.9

10.6

Côte d'Ivoire

5,255.9

5,552.8

5,478.3

6,802.4

9,385.1

9,416.3

6,981.8

31.3

Guinea-Bissau

157.9

196.4

176.9

194.0

249.9

246.5

203.6

0.9

Mali

2,204.0

2,527.0

2,469.3

2,863.1

3,302.2

3,288.7

2,775.7

12.4

Niger

1,267.7

1,362.9

1,419.9

1,565.2

1,822.4

1,636.8

1,512.5

6.8

Senegal

4,033.8

4,282.1

4,020.5

4,707.2

6,702.1

6,043.4

4,964.9

22.2

Togo

1,035.1

1,061.7

1,123.2

1,275.4

1,648.2

1,684.2

1,304.6

5.8

WAEMU

18,155.9

19,121.2

18,723.4

22,073.2

28,360.4

27,495.3

22,321.6

100

Source: Multilateral Surveillance Report (RSM) 

 

FOB Imports (as % of total Union)

States

2018

2019

2020

2021

2022

2023

Benin

11.9%

10.7%

9.7%

10.0%

8.7%

9.3%

Burkina Faso

11.2%

10.9%

11.9%

11.1%

9.8%

9.5%

Côte d'Ivoire

28.9%

29.0%

29.3%

30.8%

33.1%

34.2%

Guinea-Bissau

0.9%

1.0%

0.9%

0.9%

0.9%

0.9%

Mali

12.1%

13.2%

13.2%

13.0%

11.6%

12.0%

Niger

7.0%

7.1%

7.6%

7.1%

6.4%

6.0%

Senegal

22.2%

22.4%

21.5%

21.3%

23.6%

22.0%

Togo

5.7%

5.6%

6.0%

5.8%

5.8%

6.1%

WAEMU

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Source: Multilateral Surveillance Report (RSM)

 

Investments (in billions of FCFA)

States

2018

2019

2020

2021

2022

2023

Average 2018-2023

Weight (%)

Benin

2,090.34

2,161.17

2,309.30

2,830.16

3,964.70

4,830.18

3,031.0

11.8

Burkina Faso

1,918.71

2,117.22

1,741.15

2,174.51

2,102.08

2,353.95

2,067.9

8.1

Côte d'Ivoire

7,303.00

7,845.88

7,380.66

8,500.12

11,027.00

12,173.69

9,038.4

35.2

Guinea-Bissau

165.46

210.76

217.94

179.66

243.07

297.23

219.0

0.9

Mali

1,939.82

2,281.26

1,742.76

2,332.45

2,209.50

2,549.36

2,175.9

8.5

Niger

2,062.01

2,316.41

2,253.89

2,279.47

2,628.54

2,502.60

2,340.5

9.1

Senegal

4,192.03

4,383.34

5,031.17

6,005.43

7,496.60

7,810.83

5,819.9

22.7

Togo

747.14

762.13

908.58

918.91

1,091.47

1,279.58

951.3

3.7

WAEMU

20,418.49

22,078.17

21,585.46

25,220.71

30,762.94

33,797.40

25,643.9

100

Source: Multilateral Surveillance Report (RSM)

 

Investments (as % of total Union)

States

2018

2019

2020

2021

2022

2023

Benin

10.2%

9.8%

10.7%

11.2%

12.9%

14.3%

Burkina Faso

9.4%

9.6%

8.1%

8.6%

6.8%

7.0%

Côte d'Ivoire

35.8%

35.5%

34.2%

33.7%

35.8%

36.0%

Guinea-Bissau

0.8%

1.0%

1.0%

0.7%

0.8%

0.9%

Mali

9.5%

10.3%

8.1%

9.2%

7.2%

7.5%

Niger

10.1%

10.5%

10.4%

9.0%

8.5%

7.4%

Senegal

20.5%

19.9%

23.3%

23.8%

24.4%

23.1%

Togo

3.7%

3.5%

4.2%

3.6%

3.5%

3.8%

WAEMU

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Source: Multilateral Surveillance Report (RSM)