Côte d'Ivoire is among Sub-Saharan Africa's fastest-growing economies, supporting our view that thecountry's food, beverage and retail sectors have a very positive medium-term outlook. Over our five-yearforecast period, an advantageous domestic demographic picture and the highly underdeveloped nature of thelocal market will leave tremendous room for growth. We still expect to see average annual real GDP growthof close to 9% between 2014 and 2018. By our forecasts, this places Côte d'Ivoire as the fourth fastestgrowingSub-Saharan African country to 2018, behind Sierra Leone, Mozambique and South Sudan. As aresult, we believe that incomes will rise by almost 50%, driving a nominal increase in per capita foodconsumption of 46.3% between 2013 and 2018.
2014 total food consumption growth (local currency terms): +10.4%; compound annual growth rate(CAGR) to 2018: +10.1%.
2014 per capita food consumption growth (local currency terms): +7.8%; CAGR to 2018: +7.6%
2014 beer volume sales growth: +6.5%; CAGR to 2018: +5.9%.
2014 mass grocery retail sales growth (in local currency terms): +13.1%; CAGR to 2018: +16.1%.