2014 Index of Economic Freedom

Côte d'Ivoire

overall score57.7
world rank107
Rule of Law

Property Rights30.0

Freedom From Corruption22.1

Limited Government

Government Spending79.8

Fiscal Freedom79.1

Regulatory Efficiency

Business Freedom55.1

Labor Freedom59.0

Monetary Freedom80.6

Open Markets

Trade Freedom71.4

Investment Freedom50.0

Financial Freedom50.0

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Quick Facts
  • Population:
    • 23.4 million
  • GDP (PPP):
    • $40.3 billion
    • 9.8% growth
    • 2.6% 5-year compound annual growth
    • $1,727 per capita
  • Unemployment:
  • Inflation (CPI):
    • 1.3%
  • FDI Inflow:
    • $478.4 million
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Côte d’Ivoire’s economic freedom score is 57.7, making its economy the 107th freest in the 2014 Index. Its score is 3.6 points better than last year, with improvements in all of the 10 economic freedoms except for financial freedom. Registering one of the 10 biggest score increases of the year, Côte d’Ivoire has advanced to 16th out of 46 countries in the Sub-Saharan Africa region, and its overall score is now slightly above the regional average.

Over the 20-year history of the Index, Côte d’Ivoire’s economic freedom has grown only modestly. The country has recorded notable advancements in trade freedom and fiscal freedom, the scores for which have improved by 20 points or more. However, those gains have been largely offset by substantial score declines in the area of the rule of law measured by property rights and freedom from corruption. Business freedom has also declined.

Côte d’Ivoire continues to be ranked as one of the “mostly unfree” economies in the Index. The overall business and investment climate, hampered by political instability and regulatory inefficiency, remains unfavorable to private investment, retarding much-needed economic growth.

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Background

In 2002, civil war split Côte d’Ivoire between a rebel-controlled North and a government-controlled South. Laurent Gbagbo, ousted from the presidency in April 2011 by French-backed forces, is currently jailed in The Hague, charged with four counts of crimes against humanity for his role in presidential election violence in 2010. Current President Alassane Ouattara gained a parliamentary majority in elections held in December 2011. In June 2012, militias and supporters of ex-President Gbagbo were caught in an attempt to overthrow the government. The largely market-based economy relies heavily on cash-crop agriculture and is highly sensitive to international prices for coffee and palm oil, its top revenue earners. The International Monetary Fund and World Bank have provided $4.4 billion in debt relief under the Heavily Indebted Poor Countries Initiative.

Rule of LawView Methodology

Property Rights 30.0 Create a Graph using this measurement

Freedom From Corruption 22.1 Create a Graph using this measurement

While the law provides criminal penalties for corruption by officials, they frequently engage in corrupt practices with impunity. Tender offers are irregularly publicized. Contract terms are not transparent, and bribes are regularly solicited. Protection of property rights is fragile. Despite the pervasiveness of corruption, the government appears to be making some progress in putting in place mechanisms to address the challenges.

Limited GovernmentView Methodology

The individual income tax rate is 36 percent, and the corporate tax rate is 25 percent. Other taxes include a value-added tax (VAT) and a tax on interest. The overall tax burden is just over 13 percent of GDP. Government expenditures are around 26 percent of GDP. The Paris Club of rich nations has agreed to cancel nearly all of Côte d’Ivoire’s outstanding debt by 2014.

Regulatory EfficiencyView Methodology

The process for establishing a company is now more streamlined, but paid-in minimum capital required to launch a business equals almost twice the level of average annual income. The formal labor market is not fully developed, and cumbersome labor codes hinder job growth. Although the government regulates many prices, it recently abandoned price setting for cocoa and will allow its price to fluctuate in response to world market conditions.

Open MarketsView Methodology

The average tariff rate for Côte d’Ivoire is 6.8 percent. The government screens investment from outside the West Africa Economic and Monetary Union, and foreign investors may find it difficult to enforce contracts. The financial sector remains vulnerable to government influence. The state owns or holds shares in several domestic financial institutions and continues to influence the allocation of credit.

Country's Score Over Time

Bar Graph of Côte d'Ivoire  Economic Freedom Scores Over a Time Period

Country Comparisons

Bar Graphs comparing Côte d'Ivoire  to other economic country groups

Regional Ranking

rank country overall change
1Mauritius76.5-0.4
2Botswana721.4
3Cape Verde66.12.4
4Rwanda64.70.6
5Ghana64.22.9
6South Africa62.50.7
7Madagascar61.7-0.3
8Swaziland61.24.0
9Zambia60.41.7
10Uganda59.9-1.2
11The Gambia59.50.7
12Namibia59.4-0.9
13Burkina Faso58.9-1.0
14Gabon57.80.0
15Tanzania57.8-0.1
16Côte d'Ivoire 57.73.6
17Kenya57.11.2
18Benin57.1-0.5
19Seychelles56.21.3
20Djibouti55.92.0
21Mali55.5-0.9
22Malawi55.40.1
23Senegal55.4-0.1
24Niger55.11.2
25Mozambique 550.0
26Nigeria54.3-0.8
27Guinea53.52.3
28Mauritania53.20.9
29Cameroon52.60.3
30Liberia52.43.1
31Burundi51.42.4
32Comoros51.43.9
33Guinea-Bissau51.30.2
34Sierra Leone50.52.2
35Ethiopia500.6
36Togo49.91.1
37Lesotho49.51.6
38São Tomé and Príncipe 48.80.8
39Angola47.70.4
40Central African Republic46.7-3.7
41Chad44.5-0.7
42Equatorial Guinea44.42.1
43Republic of Congo 43.70.2
44Democratic Republic of Congo40.61.0
45Eritrea38.52.2
46Zimbabwe35.56.9
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