Cote d'Ivoire Economy Profile 2013

Economy - 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. In late 2011, Cote D'Ivoire's economy began to recover from a severe downturn of the first quarter of the year that was caused by widespread post-election fighting. 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. Cote d'Ivoire's long term challenges include political instability and degrading infrastructure.

GDP (purchasing power parity)

$39.64 billion (2012 est.)
$36.65 billion (2011 est.)
$38.47 billion (2010 est.)
note: data are in 2012 US dollars

GDP (official exchange rate)

$24.27 billion (2012 est.)

GDP - real growth rate

8.1% (2012 est.)
-4.7% (2011 est.)
2.4% (2010 est.)

GDP - per capita (PPP)

$1,700 (2012 est.)
$1,600 (2011 est.)
$1,700 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector

agriculture: 28.8%
industry: 21.8%
services: 49.4% (2012 est.)

Population below poverty line

42% (2006 est.)

Labor force

8.97 million (2012 est.)

Labor force - by occupation

agriculture: 68%
industry and services: (2007 est.) (2007 est.)

Unemployment rate

NA%

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)

Investment (gross fixed)

12.1% of GDP (2012 est.)

Budget

revenues: $4.391 billion
expenditures: $6.129 billion (2012 est.)

Taxes and other revenues

18.1% of GDP (2012 est.)

Budget surplus (+) or deficit (-)

-7.2% of GDP (2012 est.)

Public debt

60.8% of GDP (2012 est.)
65% of GDP (2011 est.)

Inflation rate (consumer prices)

1.4% (2012 est.)
5.1% (2011 est.)

Central bank discount rate

4.25% (31 December 2010 est.)
4.25% (31 December 2009 est.)

Commercial bank prime lending rate

4.3% (31 December 2012 est.)
4.3% (31 December 2011 est.)

Stock of narrow money

$7.239 billion (31 December 2012 est.)
$6.198 billion (31 December 2011 est.)

Stock of money

$4.242 billion (31 December 2008)
$4.451 billion (31 December 2007)

Stock of quasi money

$2.117 billion (31 December 2008)
$1.915 billion (31 December 2007)

Stock of broad money

$11.01 billion (31 December 2012 est.)
$9.065 billion (31 December 2011 est.)

Stock of domestic credit

$6.773 billion (31 December 2012 est.)
$5.671 billion (31 December 2011 est.)

Market value of publicly traded shares

$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

4.5% (2010 est.)

Current Account Balance

-$1.08 billion (2012 est.)
-$257.3 million (2011 est.)

Exports

$10.99 billion (2012 est.)
$11.4 billion (2011 est.)

Exports - commodities

cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil, fish

Exports - partners

Netherlands 11.3%, US 11.2%, Germany 7.2%, Nigeria 5.9%, Canada 5.8%, France 5.8%, South Africa 5.3% (2011)

Imports

$8.406 billion (2012 est.)
$7.911 billion (2011 est.)

Imports - commodities

fuel, capital equipment, foodstuffs

Imports - partners

Nigeria 35.1%, France 10%, China 5.6%, Colombia 4.8% (2011)

Reserves of foreign exchange and gold

$4.515 billion (31 December 2012 est.)
$4.316 billion (31 December 2011 est.)

Debt - external

$4.742 billion (31 December 2012 est.)
$8.539 billion (31 December 2011 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 -
513.1 (2012 est.)
471.87 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)

Fiscal year

calendar year