Côte d'Ivoire:
Economy

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Other pages in this profile of Côte d'Ivoire:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products, and, to a lesser extent, in climatic conditions. Despite government attempts to diversify the economy, it is still heavily dependent on agriculture and related activities, engaging roughly 68% of the population. Since 2006, oil and gas production have become more important engines of economic activity than cocoa. According to IMF statistics, earnings from oil and refined products were $1.3 billion in 2006, while cocoa-related revenues were $1 billion during the same period. Cote d'Ivoire's offshore oil and gas production has resulted in substantial crude oil exports and provides sufficient natural gas to fuel electricity exports to Ghana, Togo, Benin, Mali and Burkina Faso. Oil exploration by a number of consortiums of private companies continues offshore, and President GBAGBO has expressed hope that daily crude output could reach 200,000 barrels per day (b/d) by the end of the decade. Since the end of the civil war in 2003, political turmoil has continued to damage the economy, resulting in the loss of foreign investment and slow economic growth. GDP grew by 1.8% in 2006 and 1.7% in 2007. Per capita income has declined by 15% since 1999.
GDP (purchasing power parity)	Definition - World rank and map $32.18 billion (2007 est.)
GDP (official exchange rate)	Definition $19.6 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 1.6% (2007 est.)
GDP - per capita	Definition - World rank and map $1,700 (2007 est.)
GDP - composition by sector	Definition agriculture: 27.5% industry: 22.2% services: 50.2% (2007 est.)
Labor force	Definition 6.907 million (68% agricultural) (2007 est.)
Labor force - by occupation	Definition agriculture: 68% industry and services: NA (2007 est.)
Unemployment rate	Definition - World rank and map unemployment may have climbed to 40-50% as a result of the civil war
Population below poverty line	Definition 42% (2006 est.)
Household income or consumption by percentage share	Definition lowest 10%: 2% highest 10%: 34% (2002)
Distribution of family income - Gini index	Definition - World rank and map 44.6 (2002)
Inflation rate (consumer prices)	Definition - World rank and map 2.1% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 9.6% of GDP (2007 est.)
Budget	Definition revenues: $3.213 billion expenditures: $3.826 billion (2007 est.)
Public debt	Definition - World rank and map 81.1% of GDP (2007 est.)
Agriculture - products	Definition coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc (tapioca), sweet potatoes, sugar, cotton, rubber; timber
Industries	Definition foodstuffs, beverages; wood products, oil refining, truck and bus assembly, textiles, fertilizer, building materials, electricity, ship construction and repair
Industrial production growth rate	Definition - World rank and map 1.5% (2007 est.)
Electricity - production	Definition - World rank and map 5.305 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 2.9 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 157.9 kWh (2005)
Electricity - exports	Definition 1.397 billion kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 57,700 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 27,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 1.5 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 85,780 bbl/day (2004)
Oil - imports	Definition - World rank and map 76,730 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 250 million bbl (2007 est.)
Natural gas - production	Definition - World rank and map 1.247 billion cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 1.247 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 68 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 27.16 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $265 million (2007 est.)
Exports	Definition - World rank and map $18.5 billion f.o.b. (2007 est.)
Exports - commodities	Definition cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish
Exports - partners	Definition Germany 9.7%, Nigeria 9.1%, Netherlands 8.4%, France 7.3%, US 7%, Burkina Faso 4.4% (2006)
Imports	Definition - World rank and map $6.137 billion f.o.b. (2007 est.)
Imports - commodities	Definition fuel, capital equipment, foodstuffs
Imports - partners	Definition Nigeria 30.5%, France 16.4%, China 6.7% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $2.519 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $13.99 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $NA
Stock of direct foreign investment - abroad	Definition $NA
Market value of publicly traded shares	Definition $4.155 billion (2006)
Economic aid - recipient	Definition ODA, $60 million (2007 est.)
Currency (code)	Definition Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Exchange rates	Definition Communaute Financiere Africaine francs (CFA) per US dollar - 481.83 (2007), 522.89 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003) note: since 1 January 1999, the XOF franc has been pegged to the euro at a rate of 655.957 XOF francs per euro
Fiscal year	Definition calendar year

Côte d'Ivoire: Economy

Côte d'Ivoire:
Economy