Exports are forecast to rise from an estimated US$7.3bn in 2010 to US$9.7bn in 2011, on the back of both elevated oil prices and a boost to output from a major new well coming on stream, which has reversed hitherto waning production, as well as a strong recovery in mining and forestry output. Exports will fall back to US$8.4bn in 2012 as oil and manganese prices retreat, despite output rising further. Imports should rise from an estimated US$2.5bn to US$3.1bn over the same period, owing to higher import prices and robust demand for capital goods to service the investment programme. A strengthening CFA franc in 2011 could further boost non-capital goods imports. The services deficit will rise, being largely determined by import-associated transport costs and technical services. The income deficit typically reflects fluctuations in export receipts, being mainly driven by the repatriation of profits by foreign oil and mining companies. We envisage a current-account surplus of 17.4% of GDP in 2011, driven by higher oil prices and output, as well as by iron output possibly coming on stream, narrowing to 9% of GDP in 2012 on lower commodity export prices.