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    Cote d'Ivoire Economy - 2002

      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 fluctuations in international prices for these products and to weather conditions. Despite government attempts to diversify the economy, it is still largely dependent on agriculture and related activities, which engage 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 in growth to 5% annually during 1996-99. Growth was negative in 2000 and 2001 because of the difficulty of meeting the conditions of international donors, continued low prices of key exports, and post-coup instability. Political instability continues to impede growth.

      GDP purchasing power parity - $25.5 billion (2001)

      GDP - real growth rate -1% (2001 est.)

      GDP - per capita purchasing power parity - $1,550 (2001 est.)

      GDP - composition by sector
      agriculture: 28%
      industry: 29%
      services: 43% (2000 est.)

      Population below poverty line NA%

      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) 2.5% (2000 est.)

      Labor force 68% agricultural (2000 est.)

      Unemployment rate 13% in urban areas (1998 est.)

      revenues: $1.72 billion
      expenditures: $2.4 billion, including capital expenditures of $420 million (2001 est.)

      Industries foodstuffs, beverages; wood products, oil refining, truck and bus assembly, textiles, fertilizer, building materials, electricity

      Industrial production growth rate 15% (1998 est.)

      Electricity - production 4.08 billion kWh (2000)

      Electricity - production by source
      fossil fuel: 75.37%
      hydro: 24.63%
      other: 0% (1999)
      nuclear: 0%

      Electricity - consumption 2.57 billion kWh (2000)

      Electricity - exports 1.2 billion kWh (2000)

      Electricity - imports 0 kWh (1999)

      Agriculture - products coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc (tapioca), sweet potatoes, sugar, cotton, rubber; timber

      Exports $3.6 billion (f.o.b., 2001 est.)

      Exports - commodities cocoa 33%, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, cotton, fish (1999)

      Exports - partners France 13%, US 8%, Netherlands 7%, Germany 7%, Italy 6% (1999)

      Imports $2.4 billion (f.o.b., 2001 est.)

      Imports - commodities food, consumer goods; capital goods, fuel, transport equipment, raw materials

      Imports - partners France 26%, Nigeria 10%, China 7%, Italy 5%, Germany 4% (1999)

      Debt - external $13.3 billion (2000 est.)

      Economic aid - recipient ODA, $1 billion (1996 est.)

      Currency Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States

      Currency code XOF

      Exchange rates Communaute Financiere Africaine francs (XOF) per US dollar - 742.79 (January 2002), 733.04 (2001), 711.98 (2000), 615.70 (1999), 589.95 (1998), 583.67 (1997); note - from 1 January 1999, the XOF is pegged to the euro at a rate of 655.957 XOF per euro

      Fiscal year calendar year

      NOTE: The information regarding Cote d'Ivoire on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cote d'Ivoire Economy 2002 information contained here. All suggestions for corrections of any errors about Cote d'Ivoire Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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