At the end of the third quarter of 2025, the West African Economic and Monetary Union (WAEMU) recorded a global balance of payments surplus exceeding 2,100 billion CFA francs, after several years of deficits, marking a significant improvement in the region’s external credibility and the stability of its foreign exchange reserves. (Sika Finance)

The surplus contrasts sharply with the deficit of over 2,181 billion CFA francs recorded a year earlier. This improvement of nearly 4,570 billion CFA francs is mainly due to faster growth of exports compared to imports during the first nine months of 2025. Exports, driven by agricultural, mining, and energy products, enabled WAEMU to achieve a positive trade balance. (Sika Finance)

The improvement in the balance of payments is seen by analysts as a sign of macroeconomic strength and financial reliability across the eight member states. It also contributes to strengthening the region’s foreign exchange reserves, which provides better import coverage and increased protection against external shocks. (BCEAO)

Several factors explain this trend:

• Improved terms of trade for the region’s main export products.

• Growth in strategic sectors such as energy and hydrocarbons in certain member countries.

• The gradual return of several member states to international capital markets, boosting inflows. (Ecofin Agency)

Experts believe this balance of payments surplus could support the BCEAO’s monetary policy, provide more room to finance regional development projects, and strengthen international investor confidence in WAEMU.