Cote d'Ivoire is among the world's largest producers and exportersof coffee, cocoa beans, and palm oil. Consequently, the economy is
highly sensitive to fluctuations in international prices for these
products and weather conditions. Despite government attempts to
diversify the economy, it is still heavily dependent on agriculture
and related activities, engaging roughly 68% of the population.
After several years of lagging performance, the Ivorian economy
began a comeback in 1994, due to the 50% devaluation of the CFA
franc and improved prices for cocoa and coffee, growth in
nontraditional primary exports such as pineapples and rubber,
limited trade and banking liberalization, offshore oil and gas
discoveries, and generous external financing and debt rescheduling
by multilateral lenders and France. Moreover, government adherence
to donor-mandated reforms led to a jump to 5% annual growth during
1996–99. Growth was negative in 2000–03 because of the difficulty of
meeting the conditions of international donors, continued low prices
of key exports, and severe civil war. In November 2004 the situation
deteriorated when President GBAGBO's troops attacked and killed nine
French peacekeeping forces, and the UN imposed an arms embargo.
Political uncertainty has clouded the economic outlook for 2005,
with fear among Ivorians spreading, foreign investment shriveling,
businessmen fleeing, travel within the country falling, and criminal
elements that traffic in weapons and diamonds gaining ground.
GDP (purchasing power parity):
$24.78 billion (2004 est.)
GDP - real growth rate:
−1% (2004 est.)
GDP - per capita:
purchasing power parity - $1,500 (2004 est.)
GDP - composition by sector: agriculture: 27.8% industry: 19.4% services: 52.8% (2004 est.)
Labor force:
6.7 million (68% agricultural) (2004 est.)
Unemployment rate:
13% in urban areas (1998)
Population below poverty line:
37% (1995)
Household income or consumption by percentage share: lowest 10%: 3.1% highest 10%: 28.8% (1995)
Distribution of family income - Gini index:
36.7 (1995)
Inflation rate (consumer prices):
1.4% (2004 est.)
Investment (gross fixed):
11.3% of GDP (2004 est.)
Budget:
revenues: $2.412 billion
expenditures: $2.767 billion, including capital expenditures of $420
million (2004 est.)
Public debt:
74.8% of GDP (2004 est.)
Agriculture - products:
coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc
(tapioca), sweet potatoes, sugar, cotton, rubber; timber
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:
4.759 billion kWh (2002)
Electricity - production by source: fossil fuel: 61.9% hydro: 38.1% nuclear: 0% other: 0% (2001)
Electricity - consumption:
2.976 billion kWh (2002)
Electricity - exports:
1.45 billion kWh (2002)
Electricity - imports:
0 kWh (2002)
Oil - production:
29,300 bbl/day (2004 est.)
Oil - consumption:
32,000 bbl/day (2001 est.)
Oil - exports:
NA
Oil - imports:
NA
Oil - proved reserves:
220 million bbl (2004 est.)
Natural gas - production:
1.35 billion cu m (2001 est.)
Natural gas - consumption:
1.35 billion cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
0 cu m (2001 est.)
Natural gas - proved reserves:
14.87 billion cu m (2004)
Current account balance:
$-421.5 million (2004 est.)
Exports:
$5.124 billion f.o.b. (2004 est.)
Exports - commodities:
cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm
oil, fish
Exports
