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World > Africa > Cote d'Ivoire > Economy (Facts)

Cote d'Ivoire - Economy (Facts)
Economy - overview: Cote d'Ivoire is among the world's largest producers and exporters of coffee, cocoa beans, and palm oil. Consequently, the economy is highly sensitive to weather conditions and to fluctuations in international prices for these products. Despite government attempts to diversify the economy, it is still heavily dependent on agriculture and related activities, engaging roughly 68% of the population. Growth was negative in 2000-03 because of the difficulty of meeting the conditions of international donors, continued low prices of key exports, foreign divestment and civil war. Political turmoil has continued to damage the economy since 2004, with a rising risk premium associated with doing business in the country, foreign investment shriveling, transportation costs increasing, French businesses fleeing, and criminal elements that traffic in weapons and diamonds gaining ground. The government will continue to survive financially off of the sale of cocoa, which represents 90% of foreign exchange earnings, but the government will probably lose between 10% and 20% of its cocoa harvest to northern rebels who smuggle the cocoa they control to neighboring countries where cocoa prices are higher. The government remains hopeful that ongoing exploration of Cote d'Ivoire's offshore oil reserves will result in significant production that could boost daily crude output from roughly 33,000 barrels per day (b/d) to more than 200,000 b/d by the end of the decade.
GDP - real growth rate: 1.2% (2006 est.)
GDP (purchasing power parity): $29.05 billion (2006 est.)
GDP (official exchange rate): $17.19 billion (2006 est.)
GDP - per capita (PPP): $1,600 (2006 est.)
GDP - composition by sector: agriculture: 27%
industry: 18.5%
services: 54.5% (2006 est.)
Population below poverty line: 37% (1995)
Household income or consumption by percentage share: lowest 10%: 3.1%
highest 10%: 28.8% (1995)
Inflation rate (consumer prices): 3.2% (2006 est.)
Labor force: 6.738 million (68% agricultural) (2006 est.)
Unemployment rate: 13% in urban areas (1998)
Budget: revenues: $2.837 billion
expenditures: $3.154 billion; including capital expenditures of $420 million (2006 est.)
Industries: foodstuffs, beverages; wood products, oil refining, truck and bus assembly, textiles, fertilizer, building materials, electricity, ship construction and repair
Industrial production growth rate: 15% (1998 est.)
Electricity - production: 4.625 billion kWh (2004)
Electricity - consumption: 3.202 billion kWh (2004)
Electricity - exports: 1.1 billion kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 32,900 bbl/day (2005 est.)
Oil - consumption: 23,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 220 million bbl (2006 est.)
Natural gas - production: 1.3 billion cu m (2004 est.)
Natural gas - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc (tapioca), sweet potatoes, sugar, cotton, rubber; timber
Exports: $7.832 billion f.o.b. (2006 est.)
Exports - commodities: cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish
Exports - partners: France 18.3%, Netherlands 9.7%, US 9.1%, Nigeria 7.2%, Germany 4.2% (2006)
Imports: $5.548 billion f.o.b. (2006 est.)
Imports - commodities: fuel, capital equipment, foodstuffs
Imports - partners: Nigeria 27.6%, France 25.4%, China 4.3% (2006)
Debt - external: $11.96 billion (2006 est.)
Economic aid - recipient: ODA, $1 billion (1996 est.)
Currency: CFA Franc BCEAO (XOF)

Current CFA Franc BCEAO Exchange Rates
Historical CFA Franc BCEAO Exchange Rates
Chart CFA Franc BCEAO Exchange Rates
Currency code: XOF
Exchange rates: Communaute Financiere Africaine francs (XOF) per US dollar - 522.89 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - CFA Franc BCEAO Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
CFA Franc BCEAO Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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