Industrial output in Ivory Coast declined 3.3 percent year-on-year in December 2018, after an upwardly revised 10.7 percent jump in the previous month. It is the first decline in industrial activity since July 2017. Output fell for manufacturing (-5.4% vs 3.5%), mostly metallic products (-20.7% vs -54.8%); wood & furniture (-6.7% vs -3.5%) and food products & tobacco (-4.6% vs 13.3%). Also, the utilities sector posted a drop (-1.0% vs 4.1%), mainly due to a 3.7 percent decline in production and distribution of electricity. Meanwhile, output climbed for mining & quarrying (19% vs 8.6%), amid stronger gains in extraction of crude oil and natural gas (22.4% vs 12%). On a monthly basis, industrial production grew 9.4 percent, following an upwardly revised 11.2 percent surge in the prior month. Considering full year of 2018, industrial output grew 4.2 percent over a year ago. Industrial Production in Ivory Coast averaged 4.79 percent from 1998 until 2018, reaching an all time high of 109.74 percent in April of 2012 and a record low of -11.80 percent in May of 2011.
Industrial Production in Ivory Coast is expected to be 4.73 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Ivory Coast to stand at 4.41 in 12 months time. In the long-term, the Ivory Coast Industrial Production is projected to trend around 4.90 percent in 2020, according to our econometric models.