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Economy of Ivory Coast vs Morocco compared: GDP & Debt

Updated on by Georank team

Ivory Coast has a GDP of $86.5B compared to $154B for Morocco, ranking 76/197 and 60/197 by economy size, respectively.

Ivory Coast has $51.3B in government debt (58.1% of GDP), compared to $108B (68.9% of GDP) in Morocco.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Ivory Coast
GDP, current $

GDP, constant 2015 $
Morocco
GDP, current $

GDP, constant 2015 $
Year GDP
Ivory Coast Morocco
Current $ Constant $ Current $ Constant $
1960 $546,203,559 $5,492,745,890 $2,037,154,742 -
1961 $618,245,634 $6,038,315,905 $2,025,693,540 -
1962 $645,284,474 $6,112,405,708 $2,379,611,125 -
1963 $761,047,198 $6,998,115,047 $2,657,252,578 -
1964 $921,063,327 $8,230,699,197 $2,798,345,299 -
1965 $919,771,229 $7,974,752,908 $2,948,331,090 -
1966 $1,024,102,880 $8,898,018,736 $2,876,401,297 $11,518,527,478
1967 $1,082,922,725 $9,307,163,144 $3,046,345,314 $12,673,702,326
1968 $1,281,281,277 $10,475,049,116 $3,271,422,333 $13,927,351,921
1969 $1,361,360,293 $11,474,286,968 $3,651,622,669 $15,091,980,118
1970 $1,455,482,795 $12,664,747,894 $3,956,336,244 $15,803,334,621
1971 $1,584,128,509 $13,862,407,214 $4,356,669,034 $16,687,830,454
1972 $1,849,400,402 $14,449,705,425 $5,074,117,545 $17,094,552,490
1973 $2,508,421,426 $15,307,901,973 $6,242,145,880 $17,703,000,749
1974 $3,070,152,309 $15,970,333,193 $7,675,466,449 $18,693,669,512
1975 $3,893,839,190 $17,288,346,644 $8,984,853,005 $20,106,578,472
1976 $4,662,053,825 $19,521,378,207 $9,584,297,284 $22,280,658,838
1977 $6,265,068,189 $20,949,261,442 $11,049,783,872 $23,630,681,317
1978 $7,900,526,298 $23,234,711,410 $13,236,946,234 $24,158,274,887
1979 $9,142,933,967 $23,791,045,073 $15,911,994,817 $25,316,371,178
1980 $10,175,617,609 $21,184,094,378 $21,728,516,153 $26,238,435,141
1981 $8,432,589,942 $21,925,643,371 $17,788,185,479 $25,780,985,097
1982 $7,567,110,849 $21,969,674,962 $17,692,276,734 $28,090,283,844
1983 $6,838,184,773 $21,112,804,815 $16,251,408,128 $28,479,775,174
1984 $6,841,639,247 $20,542,492,760 $14,824,667,954 $30,307,717,168
1985 $6,977,650,644 $21,467,156,206 $14,991,283,216 $32,128,499,366
1986 $9,158,302,100 $22,166,845,697 $19,462,085,540 $35,107,166,524
1987 $10,087,654,465 $22,089,489,410 $21,765,195,948 $34,993,066,802
1988 $10,255,169,806 $22,340,532,915 $25,705,296,184 $39,148,576,061
1989 $9,757,410,645 $22,999,132,930 $26,314,313,191 $40,262,823,844
1990 $10,795,850,583 $22,747,083,497 $30,179,954,775 $41,636,515,790
1991 $10,492,628,581 $22,756,392,780 $32,285,573,574 $44,641,043,474
1992 $11,152,971,274 $22,700,739,607 $33,711,069,431 $43,704,591,005
1993 $11,045,760,288 $22,657,044,066 $31,655,473,664 $43,380,918,431
1994 $8,313,557,510 $22,840,839,521 $35,604,137,423 $47,974,090,255
1995 $11,000,146,267 $24,468,419,439 $39,030,285,468 $45,380,875,814
1996 $18,071,152,831 $26,359,663,692 $43,161,571,528 $50,995,795,429
1997 $18,047,558,038 $28,903,065,479 $39,147,844,526 $50,199,902,853
1998 $19,619,654,756 $30,135,465,006 $46,497,608,725 $53,833,649,265
1999 $18,870,992,456 $30,487,103,687 $46,266,428,648 $54,747,239,389
2000 $16,577,533,892 $30,406,072,178 $43,017,455,402 $56,160,912,156
2001 $16,810,537,044 $29,751,121,586 $43,831,480,208 $60,497,559,621
2002 $18,054,383,321 $28,938,759,334 $47,077,192,188 $62,754,238,002
2003 $21,251,754,340 $27,571,152,176 $58,029,363,354 $66,626,866,132
2004 $23,510,575,681 $28,449,303,912 $66,114,145,451 $69,672,633,475
2005 $24,036,918,703 $28,732,677,632 $68,852,658,069 $71,896,757,929
2006 $25,281,413,263 $29,541,668,753 $75,883,823,301 $77,498,104,933
2007 $28,760,090,953 $29,867,049,486 $86,947,913,287 $80,164,867,241
2008 $34,078,240,293 $31,295,490,701 $101,822,906,949 $84,721,870,675
2009 $33,886,813,250 $32,423,167,867 $101,154,952,241 $87,895,356,583
2010 $34,936,307,980 $34,643,522,419 $100,865,329,473 $90,971,304,769
2011 $36,693,710,801 $32,783,010,325 $110,080,631,332 $95,997,146,622
2012 $36,302,302,877 $35,281,210,701 $106,937,392,311 $98,936,909,179
2013 $42,760,235,485 $39,077,544,168 $115,739,287,305 $103,015,299,181
2014 $48,843,005,614 $42,739,891,584 $119,130,841,412 $105,816,536,606
2015 $45,815,005,169 $45,815,005,169 $110,413,823,842 $110,413,823,842
2016 $48,407,761,037 $49,101,205,369 $111,572,947,005 $110,989,284,688
2017 $52,512,343,997 $52,739,979,047 $118,540,573,368 $116,603,009,678
2018 $58,522,477,787 $55,294,253,264 $127,341,147,582 $120,177,639,735
2019 $60,382,894,697 $59,010,785,541 $128,920,266,409 $123,651,944,969
2020 $63,027,852,805 $59,423,700,881 $121,353,645,057 $114,775,951,852
2021 $72,794,636,649 $63,620,992,438 $142,022,058,447 $124,135,631,044
2022 $70,922,824,824 $67,692,661,917 $130,951,926,351 $126,031,434,845
2023 $79,618,056,324 $72,059,148,622 $144,417,103,250 $130,320,714,719
2024 $86,538,413,923 $76,346,667,965 $154,430,996,473 $134,538,562,551

Economic indicators

Ivory Coast Morocco
Gross domestic product
$86.5B
2024
$154B
2024
GDP rank
76/197
2024
60/197
2024
GDP growth
8.69%
2023-2024
6.93%
2023-2024
GDP per capita
$2,710
2024
$4,055
2024
GDP per capita rank
142/197
2024
128/197
2024
GDP per capita, PPP
$7,653
2024
$10,305
2024
Government debt
$51.3B
2024
$108B
2024
Debt-to-GDP ratio
58.1%
2025
68.9%
2025
Government debt per person
$1,606
2024
$2,840
2024
Government debt per person rank
125/185
2024
105/185
2024
Average annual personal income after taxes
$2,373
2025
$5,043
2025
Market capitalization of domestic companies
$7.33B
2020
$74.5B
2024
Number of billionaires n/a
3
2025
Income share by richest 10%
27.8%
2021
31.9%
2013
Income share by poorest 10%
3.1%
2021
2.7%
2013
Government expenditure, % of GDP
20.4%
2025
34.3%
2025
Consumer prices inflation
3.47%
2023-2024
0.99%
2023-2024
Central bank interest rate n/a
2.25%
2025
Unemployment rate
2.31%
2022
11.8%
2022
Population
33340347
38697192

GDP per capita in Ivory Coast vs Morocco

Ivory Coast's GDP per capita is $2,710, ranking 142/197, compared to $4,055 in Morocco, ranking 128/197. Adjusted for purchasing power (GDP per capita PPP), Ivory Coast ranks 144th at $7,653, while Morocco ranks 132nd at $10,305.

Ivory Coast
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
Year Current $
Ivory Coast Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $148.7 - $175.2 -
1961 $162.3 - $169.8 -
1962 $163.1 - $194.2 -
1963 $185.1 - $211.3 -
1964 $215.5 - $216.9 -
1965 $207 - $222.7 -
1966 $221.8 - $211.5 -
1967 $225.6 - $218.1 -
1968 $256.8 - $228 -
1969 $262.2 - $247.8 -
1970 $269 - $261.5 -
1971 $280.3 - $280.6 -
1972 $313 - $319 -
1973 $406 - $382 -
1974 $474 - $459 -
1975 $575 - $524 -
1976 $661 - $545 -
1977 $856 - $613 -
1978 $1,039 - $716 -
1979 $1,157 - $839 -
1980 $1,238 - $1,117 -
1981 $986 - $890 -
1982 $849 - $862 -
1983 $737 - $772 -
1984 $709 - $687 -
1985 $695 - $678 -
1986 $877 - $861 -
1987 $930 - $944 -
1988 $910 - $1,094 -
1989 $833 - $1,099 -
1990 $886 $2,693 $1,238 $2,777
1991 $827 $2,677 $1,302 $3,025
1992 $845 $2,625 $1,337 $2,979
1993 $804 $2,577 $1,236 $2,979
1994 $582 $2,551 $1,369 $3,315
1995 $740 $2,683 $1,478 $3,152
1996 $1,170 $2,832 $1,610 $3,551
1997 $1,125 $3,040 $1,439 $3,502
1998 $1,177 $3,086 $1,683 $3,740
1999 $1,096 $3,065 $1,651 $3,801
2000 $937 $3,041 $1,513 $3,930
2001 $925 $2,962 $1,521 $4,269
2002 $968 $2,851 $1,612 $4,436
2003 $1,111 $2,702 $1,962 $4,741
2004 $1,200 $2,794 $2,207 $5,025
2005 $1,198 $2,842 $2,268 $5,275
2006 $1,230 $2,942 $2,466 $5,781
2007 $1,368 $2,985 $2,788 $6,058
2008 $1,584 $3,116 $3,222 $6,437
2009 $1,540 $3,177 $3,158 $6,629
2010 $1,554 $3,361 $3,107 $6,849
2011 $1,597 $3,176 $3,345 $7,274
2012 $1,547 $3,291 $3,206 $7,308
2013 $1,786 $3,619 $3,425 $7,542
2014 $1,991 $4,074 $3,483 $7,237
2015 $1,815 $4,404 $3,190 $7,799
2016 $1,863 $4,531 $3,186 $7,853
2017 $1,964 $4,690 $3,344 $8,115
2018 $2,131 $4,946 $3,553 $7,801
2019 $2,142 $5,516 $3,560 $8,046
2020 $2,180 $5,544 $3,317 $7,705
2021 $2,456 $6,045 $3,843 $8,623
2022 $2,333 $6,719 $3,508 $9,284
2023 $2,555 $7,227 $3,829 $9,843
2024 $2,710 $7,653 $4,055 $10,305

Spending and national debt comparison

In 2024, Ivory Coast's government spending was $17.6B, accounting for 20.4% of its GDP, while Morocco's spent $52.8B, or 34.3% of GDP.

Debt-to-GDP ratio is 58.1% in Ivory Coast and 68.9% in Morocco, ranking 90/185 and 58/185, respectively.

Ivory Coast
Government spending

Government debt
Morocco
Government spending

Government debt
Year % of GDP
Ivory Coast Morocco
Government spending Government debt Government spending Government debt
1990 - - 22.6% 70.5%
1991 - - 20.8% 59.1%
1992 - - 22.3% 67%
1993 - - 23.1% 74.7%
1994 - - 21.7% 69.3%
1995 - - 21.3% 72.2%
1996 - - 17.6% 65.3%
1997 15.2% 84.2% 18.6% 68%
1998 14.6% 75.2% 18.7% 64.5%
1999 13.7% 78% 18.4% 63.4%
2000 12.9% 74% 22.8% 64.9%
2001 11.4% 71.2% 23.7% 60.4%
2002 13.1% 63% 25.8% 59.4%
2003 12.7% 56.4% 24.1% 56.9%
2004 13.5% 56.7% 24.5% 54.4%
2005 13.6% 58.2% 28.6% 54.8%
2006 14.5% 57.5% 26% 50.6%
2007 14.8% 53.5% 26.4% 47.1%
2008 14.6% 51.2% 28.3% 42%
2009 14.4% 46.5% 28.1% 42.6%
2010 14.5% 45.6% 28.7% 45.3%
2011 13.2% 50% 31.2% 48.6%
2012 16.1% 24.7% 32.5% 52.3%
2013 15.9% 24.6% 30.4% 57.1%
2014 15.2% 26.7% 30.7% 58.6%
2015 16.5% 29.2% 28.5% 58.4%
2016 17.6% 31.1% 28.6% 60.1%
2017 18.1% 32.6% 27.9% 60.3%
2018 17.6% 35.3% 27.8% 60.5%
2019 17.2% 37.2% 27.7% 60.3%
2020 20.4% 46.3% 34.1% 72.2%
2021 20.5% 50.2% 31% 69.4%
2022 21.9% 56% 33.8% 71.5%
2023 21.3% 57.5% 32.3% 69.5%
2024 20.4% 59.3% 34.2% 70%
2025 20.4% 58.1% 34.3% 68.9%

Government deficit by year

In 2024, Ivory Coast's government deficit, the difference between spending and revenue, was -$3.43B, equivalent to -3.97% of GDP. This compares to Morocco's deficit of -$6.26B, or -4.06% of GDP.

Over the past 28 years, Ivory Coast recorded a fiscal deficit in 27 of those years, while Morocco ran a deficit in 24 years. On average, Ivory Coast posted an annual deficit equal to -2.1% of GDP, compared to deficit of -3.29% of GDP for Morocco.

Deficit/surplus
Ivory Coast

Morocco
Year Deficit/surplus, % of GDP
Ivory Coast Morocco
1990 - -1.32%
1991 - -0.9%
1992 - -1.84%
1993 - -2%
1994 - -2.51%
1995 - -2.54%
1996 - 0.87%
1997 -0.75% 1.5%
1998 -0.7% 1.47%
1999 -1.27% 3.21%
2000 -0.83% -1.97%
2001 0.7% -3.79%
2002 -0.64% -4.37%
2003 -1.26% -3.74%
2004 -1.04% -3.31%
2005 -1.03% -5.46%
2006 -1.03% -1.8%
2007 -0.39% -0.12%
2008 -0.21% 0.63%
2009 -1% -1.63%
2010 -1.34% -3.93%
2011 -2.89% -6.08%
2012 -2.28% -6.63%
2013 -1.62% -4.7%
2014 -1.57% -4.78%
2015 -2.04% -4.59%
2016 -2.98% -4.49%
2017 -3.27% -3.3%
2018 -2.9% -3.52%
2019 -2.22% -3.88%
2020 -5.42% -7.15%
2021 -4.86% -5.92%
2022 -6.74% -5.38%
2023 -5.19% -4.46%
2024 -3.97% -4.06%
2025 -3.02% -3.89%

Inflation comparison by year

Over the past 29 years, Ivory Coast has recorded an average annual inflation rate of 2.56%, compared with 1.86% in Morocco. In 2024, inflation was 3.47% in Ivory Coast and 0.99% in Morocco.

Inflation
Ivory Coast

Morocco
Year Inflation
Ivory Coast Morocco Ivory Coast Morocco
1996 2.48% 2.99%
1997 4.02% 1.04%
1998 4.61% 2.75%
1999 0.7% 0.68%
2000 2.53% 1.89%
2001 4.36% 0.62%
2002 3.08% 2.8%
2003 3.3% 1.17%
2004 1.46% 1.49%
2005 3.89% 0.98%
2006 2.47% 3.28%
2007 1.89% 2.04%
2008 6.31% 3.71%
2009 1.02% 0.97%
2010 1.23% 0.99%
2011 4.91% 0.91%
2012 1.3% 1.29%
2013 2.58% 1.88%
2014 0.45% 0.44%
2015 1.25% 1.56%
2016 0.72% 1.64%
2017 0.69% 0.75%
2018 0.36% 1.8%
2019 -1.11% 0.3%
2020 2.43% 0.71%
2021 4.09% 1.4%
2022 5.28% 6.66%
2023 4.39% 6.09%
2024 3.47% 0.99%

Top exports between countries

Ivory Coast
Export category Export value
Processed food, beverages & tobacco $37M
Machinery & equipment $22.4M
Wood & paper products $7.73M
Raw agricultural goods $4.59M
Raw materials & minerals $885K
Textiles & consumer goods $476K
Chemicals & pharma $254K
Metals $165K
Precious metals & jewellery $8K
Animal & marine products $7K
Morocco
Export category Export value
Raw materials & minerals $260M
Animal & marine products $77.1M
Machinery & equipment $30.1M
Processed food, beverages & tobacco $22.8M
Chemicals & pharma $22.7M
Metals $22.3M
Wood & paper products $17.1M
Textiles & consumer goods $15.8M
Raw agricultural goods $2.13M
Miscellaneous $8K

Balance of trade

Ivory Coast Morocco
Current account balance
-$9.21B
2023
-$1.87B
2024
Current account balance ranking
175/189
2023
139/189
2024
Current account balance, % of GDP
-11.6%
2023
-1.21%
2024
Goods imports
$15.4B
2023
$66.5B
2024
Goods exports
$17.1B
2023
$39.3B
2024
Service imports
$8.78B
2023
$14.3B
2024
Service exports
$1.5B
2023
$28.2B
2024
Imports of goods and services, % of GDP
27.1%
2024
52.5%
2024
Exports of goods and services, % of GDP
27.6%
2024
43.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Ivory Coast Morocco
Economic freedom 57.8 60.3
Economic freedom ranking 112/197 94/197
Property rights 46.3 58.6
Government integrity 36.6 36.9
Judicial effectiveness 31.1 32.7
Tax burden 82.2 71.4
Government spending 86.3 67.9
Fiscal health 42.4 46.2
Business freedom 65.2 68.9
Labor freedom 56.8 48.5
Monetary freedom 66.5 74.7
Trade freedom 70 67.2
Investment freedom 60 75
Financial freedom 50 75

Economic freedom by year comparison

The Economic Freedom Index for Ivory Coast is 57.8, ranking 112/197, compared to 60.3 for Morocco, ranking 94/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Ivory Coast
Morocco
Year Economic freedom index
Ivory Coast Morocco
1995 53.4 62.8
1996 49.9 64.3
1997 50.5 64.7
1998 51.3 61.1
1999 51.7 63.8
2000 50.2 63.2
2001 54.8 63.9
2002 57.3 59
2003 56.7 57.8
2004 57.8 56.7
2005 56.6 52.2
2006 56.2 51.5
2007 54.9 56.4
2008 53.9 55.6
2009 55 57.7
2010 54.1 59.2
2011 55.4 59.6
2012 54.3 60.2
2013 54.1 59.6
2014 57.7 58.3
2015 58.5 60.1
2016 60 61.3
2017 63 61.5
2018 62 61.9
2019 62.4 62.9
2020 59.7 63.3
2021 61.7 63.3
2022 61.6 59.2
2023 60.4 58.4
2024 58.4 56.8
2025 57.8 60.3

More economic indicators

Ivory Coast Morocco
Services, % of GDP
53.9%
2024
54.1%
2024
Industry, % of GDP
22.1%
2024
24.1%
2024
Agriculture, forestry, and fishing, % of GDP
17.9%
2024
10.1%
2024
GNI, Atlas method
$80.2B
2024
$145B
2024
GNI per capita, PPP
$7,350
2024
$10,150
2024
Total reserves including gold n/a
$37.1B
2024
Total reserves ranking n/a
52/177
2024
Net foreign direct investment
-$2B
2023
-$948M
2024
Net inflows of foreign direct investment
$3.8B
2024
$1.64B
2024
Net outflows of foreign direct investment
$563M
2024
$691M
2024
Servicing debt to the IMF, % of GNI
4.64%
2023
4.07%
2023
Poverty at national poverty lines
37.5%
2021
3.9%
2022
Gross capital formation, % of GDP
24.5%
2024
29.9%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.