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Ivory Coast Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
26,260,582 (July 2018 est.)GDP (PPP)
$97.2 billion (2017 est.)Following the end of more than a decade of civil conflict in 2011, Cote d’Ivoire has experienced a boom in foreign investment and economic growth. Cocoa, oil, and coffee are the country's top export revenue earners. The economy is highly sensitive to fluctuations in international prices for these products and to climatic conditions.
GDP growth rate
7.8% (2017 est.)Very high and stable. For the last 5 years Cote d'Ivoire's growth rate has been among the highest in the world.
GDP (PPP) per capita
$3,900 (2017 est.)Very low
Local currency
West African CFA Franc (XOF)Pegged to the EUR (1€ = 655.957 XOF)
Financial stability (Public debt)
47.0% (2017 est.)Medium. In 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly Indebted Poor Countries Initiative.
Inflation
0.8% (2017 est.)Low and stable since 2014
Language
French (official)English is not widely spoken
Corruption perception index (Source: Transparency International)
Rank 105/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
18% standard VAT rate9% reduced VAT rate (milk, pasta products that contain 100% durum wheat semolina, and equipment for the production of solar energy)
Corporate Tax
25% standard rate, subject to a minimum tax30% rate for companies in the telecommunication, information technology, and communication sectors. Non-resident entities are subject to withholding tax (WHT) at 20%, when they do not have a permanent establishment
Duties
Customs duties rates range from 0% to 35%, depending on the classification of the imported goods according to the customs tariff.Goods are also subject to the statistical duty (1%), to community levy (0.5%, not apply to countries member of WAEMU), and to VAT (18%). African Union import tax applies on imports of items outside the African Union at the rate of 0.2%.
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