Ivory Coast's trade surplus expanded by 27.6% year-on-year from January to April, driven by strong export growth in cocoa and gold. Imports saw a modest rise, contributing to a surplus equivalent to 10.2% of GDP.
The substantial growth in Ivory Coast's trade surplus, driven by key commodity exports like cocoa and gold, signals a strengthening external economic position and potential for increased foreign exchange reserves.
Ivory Coast recorded a significant increase in its trade surplus during the first four months of the year, with a year-on-year expansion of 27.6%. This positive development was primarily fueled by an 11.0% rise in exports. Detailed data shows that cocoa exports, encompassing both beans and products, grew by 16.6% to XOF 2.6 billion, while gold exports surged by 43.9% year-on-year, driven by higher production and prices. Imports saw a more modest increase of 1.4% year-on-year, with a notable drop in oil and petroleum product imports. The cumulative 12-month trade surplus now accounts for approximately 10.2% of the nation's Gross Domestic Product (GDP), indicating a strengthening external position. The primary export markets for Ivory Coast are Switzerland and the Netherlands, which together represent almost 30% of the country's total exports.
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