Cote d'Ivoire: Economy#
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds 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 in climatic conditions. Cocoa, oil, and coffee are the country's top export revenue earners, but the country is also mining gold.Following the end of more than a decade of civil conflict in 2011, Cote d’Ivoire has experienced a boom in foreign investment and economic growth. In June 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly Indebted Poor Countries Initiative.
Economic Facts#
| GDP (purchasing power parity) | $87.12 billion (2016 est.) $80.68 billion (2015 est.) $74.33 billion (2014 est.) note: data are in 2016 dollars |
|---|---|
| GDP (official exchange rate) | $34.65 billion (2015 est.) |
| GDP - real growth rate | 8% (2016 est.) 8.5% (2015 est.) 7.9% (2014 est.) |
| GDP - per capita (PPP) | $3,600 (2016 est.) $3,400 (2015 est.) $3,200 (2014 est.) note: data are in 2016 dollars |
| Gross national saving | 18.4% of GDP (2016 est.) 16.8% of GDP (2015 est.) 19.3% of GDP (2014 est.) |
| GDP - composition, by end use | household consumption: 66% government consumption: 15.2% investment in fixed capital: 16.9% investment in inventories: 0.8% exports of goods and services: 43.3% imports of goods and services: -42.2% (2016 est.) |
| GDP - composition, by sector of origin | agriculture: 17.6% industry: 19.5% services: 62.8% (2016 est.) |
| Agriculture - products | coffee, cocoa beans, bananas, palm kernels, corn, rice, cassava (manioc, tapioca), 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 | 8.5% (2016 est.) |
| Labor force | 8.543 million (2016 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 | 41.5 (2008) 36.7 (1995) |
| Budget | revenues: $6.839 billion expenditures: $8.17 billion (2016 est.) |
| Taxes and other revenues | 19.7% of GDP (2016 est.) |
| Budget surplus (+) or deficit (-) | -3.8% of GDP (2016 est.) |
| Public debt | 50.9% of GDP (2016 est.) 49.1% of GDP (2015 est.) |
| Fiscal year | calendar year |
| Inflation rate (consumer prices) | 1.2% (2016 est.) 1.3% (2015 est.) |
| Central bank discount rate | 4.25% (31 December 2010) 4.25% (31 December 2009) |
| Commercial bank prime lending rate | 2.5% (31 December 2016 est.) 2.5% (31 December 2015 est.) |
| Stock of narrow money | $9.416 billion (31 December 2016 est.) $8.516 billion (31 December 2015 est.) |
| Stock of broad money | $13.92 billion (31 December 2016 est.) $12.55 billion (31 December 2015 est.) |
| Stock of domestic credit | $11.19 billion (31 December 2016 est.) $9.812 billion (31 December 2015 est.) |
| Market value of publicly traded shares | $12.49 billion (31 December 2015 est.) $11.71 billion (31 December 2014 est.) $11.82 billion (31 December 2013 est.) |
| Current account balance | -$609 million (2016 est.) -$567 million (2015 est.) |
| Exports | $11.73 billion (2016 est.) $11.98 billion (2015 est.) |
| Exports - commodities | cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish |
| Exports - partners | US 8.5%, Netherlands 6.2%, France 5.6%, Germany 5.6%, Nigeria 5.5%, Burkina Faso 5.5%, Belgium 5.3%, India 4.6%, Ghana 4.4%, Switzerland 4.1% (2015) |
| Imports | $8.966 billion (2016 est.) $8.609 billion (2015 est.) |
| Imports - commodities | fuel, capital equipment, foodstuffs |
| Imports - partners | Nigeria 21.9%, China 14.4%, France 11.4%, Bahamas, The 5% (2015) |
| Reserves of foreign exchange and gold | $4.952 billion (31 December 2016 est.) $4.716 billion (31 December 2015 est.) |
| Debt - external | $12.84 billion (31 December 2016 est.) $11.71 billion (31 December 2015 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 - 604.4 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.29 (2012 est.) |