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EconomyEconomy - overview
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly 68% of the population. 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. Cocoa, oil, and coffee are the country's top export revenue earners, but the country is also producing gold. 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 more than 2% in 2008 and around 4% per year in 2009-10. Per capita income has declined by 15% since 1999 but registered a slight improvement in 2009-10. Power cuts caused by a turbine failure in early 2010 slowed economic activity. Cote d'Ivoire in 2010 signed agreements to restructure its Paris Club bilateral, other bilateral, and London Club debt. Cote d'Ivoire's long term challenges include political instability and degrading infrastructure. In late 2011, Cote D'Ivoire's economy was recovering from a severe downturn of the first quarter of the year that was caused by widespread post-election fighting. Gdp (purchasing power parity) World Ranking: 103
$36.53 billion (2011 est.)
$38.34 billion (2010 est.) $37.45 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$24.1 billion (2011 est.)
Gdp - real growth rate World Ranking: 212
-4.7% (2011 est.)
2.4% (2010 est.) 3.8% (2009 est.) Gdp - per capita (ppp) World Ranking: 197
$1,600 (2011 est.)
$1,700 (2010 est.) $1,800 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 30%
Industry 21% Services 49% (2011 est.) Labor force World Ranking: 56
8.764 million (2011 est.)
Labor force - by occupation
Agriculture 68%
Industry and services NA (2007 est.) Unemployment rate
NA%
Population below poverty line
42% (2006 est.)
Household income or consumption by percentage share
Lowest 10% 2.2%
Highest 10% 31.8% (2008) Distribution of family income - gini index World Ranking: 53
41.5 (2008)
36.7 (1995) Investment (gross fixed) World Ranking: 146
11% of GDP (2011 est.)
Budget
Revenues $4.372 billion
Expenditures $6.261 billion (2011 est.) Taxes and other revenues World Ranking: 180
18.1% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 186
-7.8% of GDP (2011 est.)
Public debt World Ranking: 37
65.3% of GDP (2011 est.)
63.1% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 130
5.1% (2011 est.)
1.1% (2010 est.) Central bank discount rate World Ranking: 84
4.25% (31 December 2010 est.)
4.25% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 162
4.8% (31 December 2011 est.)
4.3% (31 December 2010 est.) Stock of narrow money World Ranking: 93
$6.198 billion (31 December 2011 est.) $5.575 billion (31 December 2010 est.) Stock of broad money World Ranking: 110
$9.065 billion (31 December 2011 est.) $8.458 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 109
$6.544 billion (31 December 2011 est.) $5.778 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 76
$6.288 billion (31 December 2011) $7.099 billion (31 December 2010) $6.141 billion (31 December 2009) Agriculture - products
Coffee, cocoa beans, bananas, palm kernels, corn, rice, cassava (manioc), sweet potatoes, sugar, cotton, rubber; timber Industries
Foodstuffs, beverages; wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity Industrial production growth rate World Ranking: 74
4.5% (2010 est.)
Electricity - production World Ranking: 111
5.548 billion kWh (2008 est.)
Electricity - consumption World Ranking: 124
3.584 billion kWh (2008 est.)
Electricity - exports
599 million kWh (2008 est.)
Electricity - imports
NA kWh (2008 est.)
Oil - production World Ranking: 64
44,880 bbl/day (2010 est.)
Oil - consumption World Ranking: 119
25,000 bbl/day (2010 est.)
Oil - exports World Ranking: 72
70,800 bbl/day (2009 est.)
Oil - imports World Ranking: 68
85,190 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 69
100 million bbl (1 January 2011 est.) Natural gas - production World Ranking: 59
1.6 billion cu m (2009 est.)
Natural gas - consumption World Ranking: 83
1.6 billion cu m (2009 est.)
Natural gas - exports World Ranking: 84
0 cu m (2009 est.)
Natural gas - imports World Ranking: 178
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 72
28.32 billion cu m (1 January 2011 est.) Current account balance World Ranking: 90
-$263.4 million (2011 est.)
$554.9 million (2010 est.) Exports World Ranking: 88
$11.41 billion (2011 est.)
$10.47 billion (2010 est.) Exports - commodities
Cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish Exports - partners
Netherlands 11.6%, US 11.5%, Germany 7.3%, Nigeria 6%, Canada 6%, France 5.9%, South Africa 5.4% (2011) Imports World Ranking: 107
$7.92 billion (2011 est.)
$7.014 billion (2010 est.) Imports - commodities
Fuel, capital equipment, foodstuffs Imports - partners
Nigeria 35.6%, France 9.9%, China 5.6%, Colombia 5.4% (2011) Reserves of foreign exchange and gold World Ranking: 94
$4.3 billion (31 December 2011 est.) $3.624 billion (31 December 2010 est.) Debt - external World Ranking: 90
$11.44 billion (31 December 2011 est.) $11.43 billion (31 December 2010 est.) Stock of direct foreign investment - at home
$NA
Stock of direct foreign investment - abroad
$NA
Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar - 471.87 (2011 est.)495.28 (2010 est.) 472.19 (2009) 447.81 (2008) 481.83 (2007) Fiscal year
Calendar year
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Cote D Ivoire (Yamoussoukro):
 
GPS points from Cote D Ivoire (Yamoussoukro)
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Close ties to France since independence in 1960, the development of cocoa production for export, and foreign investment made Cote d'Ivoire one of the most prosperous of the West African states but did not protect it from political turmoil. In December 1999, a military coup - the first ever in Cote d'Ivoire's history - overthrew the government. Junta leader Robert GUEI blatantly rigged elections held in late 2000 and declared himself the winner. Popular protest forced him to step aside and brought Laurent GBAGBO into power. Ivorian dissidents and disaffected members of the military launched a failed coup attempt in September 2002. Rebel forces claimed the northern half of the country, and in January 2003 were granted ministerial positions in a unity government under the auspices of the Linas-Marcoussis Peace Accord. President GBAGBO and rebel forces resumed implementation of the peace accord in December 2003 after a three-month stalemate, but issues that sparked the civil war, such as land reform and grounds for citizenship, remained unresolved. In March 2007 President GBAGBO and former New Forces rebel leader Guillaume SORO signed the Ouagadougou Political Agreement. As a result of the agreement, SORO joined GBAGBO's government as Prime Minister and the two agreed to reunite the country by dismantling the zone of confidence separating North from South, integrate rebel forces into the national armed forces, and hold elections. Disarmament, demobilization, and reintegration of rebel forces have been problematic as rebels seek to enter the armed forces. Citizen identification and voter registration pose election difficulties, and balloting planned for November 2009 was postponed to 2010. On 28 November 2010, Alassane Dramane OUATTARA won the presidential election, defeating then President Laurent GBAGBO. GBAGBO refused to hand over power, resulting in a five-month stand-off. In April 2011, after widespread fighting, GBAGBO was formally forced from office by armed OUATTARA supporters with the help of UN and French forces. Several thousand UN peacekeepers and several hundred French troops remain in Cote d'Ivoire to support the transition process.