Economy Cote d'Ivoire
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 heavily 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 2000-03 because of the
difficulty of meeting the conditions of international donors,
continued low prices of key exports, and severe civil war. Political
uncertainty will continue to cloud the economic outlook in 2004, but
rising world prices for cocoa will help both the current account and
the government balances.
GDP:
purchasing power parity - $24.51 billion (2003 est.)
GDP - real growth rate:
-1.9% (2003 est.)
GDP - per capita:
purchasing power parity - $1,400 (2003 est.)
GDP - composition by sector: agriculture: 36.6% industry: 19.9% services: 43.5% (2003 est.)
Investment (gross fixed):
8.7% of GDP (2003)
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)