UEMOA: GDP / inhabitant up 9% annually

GDP at current price per capita in WAEMU increased from 675,000 FCFA to 735,000 FCFA (about 1,355 USD) between 2019 and 2020, according to estimates by the Central Bank of West African States (BCEAO). This represents an annual increase of around 9%.

With a GDP / capita estimated at 463,600 FCFA in 2020 against 448,800 in 2019, Burkina Faso records the largest increase in the West African region with the CFA Franc in common (around +3.2), ahead of Benin (+1, 5) and Niger (+0.32). Those are the three economies that ended the year in positive territory out of the eight.

Côte d’Ivoire, the locomotive of the region with a GDP / capita estimated at 1.32 million FCFA in 2020, is experiencing a slight annual decline of around -0.19%, against -0.74% for Senegal, second largest GDP per capita in the WAEMU (907,000 FCFA in 2020).

For its part, the indicator fell by -21% in Guinea Bissau (plus the sharp drop), and by -5.8 in Mali. Togo and Niger register, respectively, slight declines of -0.72% and -0.32% in the value of GDP divided by the number of inhabitants.

As a reminder, WAEMU’s GDP growth rate is estimated at + 0.9% in 2020 after + 5.7% in 2019. A decline attributed to the decline in economic activity, particularly in the manufacturing sectors, tourism, hotels and restaurants due to the Covid-19 pandemic.

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