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Flag description:

three equal vertical bands of orange (hoist side), white, and green

note: similar to the flag of Ireland, which is longer and has the colors reversed - green (hoist side), white, and orange; also similar to the flag of Italy, which is green (hoist side), white, and red; design was based on the flag of France

Economy ::Cote d'Ivoire

Economy - overview:

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. Despite government attempts to diversify the economy, it is still heavily dependent on agriculture and related activities, engaging roughly 68% of the population. Since 2006, oil and gas production have become more important engines of economic activity than cocoa. According to IMF statistics, earnings from oil and refined products were $1.3 billion in 2006, while cocoa-related revenues were $1 billion during the same period. Cote d'Ivoire's offshore oil and gas production has resulted in substantial crude oil exports and provides sufficient natural gas to fuel electricity exports to Ghana, Togo, Benin, Mali and Burkina Faso. Oil exploration by a number of consortiums of private companies continues offshore, and President GBAGBO has expressed hope that daily crude output could reach 200,000 barrels per day (b/d) by the end of the decade. 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 nearly 2% in 2007 and 3% in 2008. Per capita income has declined by 15% since 1999.

GDP (purchasing power parity):

$34.12 billion (2008 est.) country comparison to the world: 101 $33.36 billion (2007 est.)

$32.79 billion (2006 est.)

note: data are in 2008 US dollars

GDP (official exchange rate):

$23.51 billion (2008 est.)

GDP - real growth rate:

2.3% (2008 est.) country comparison to the world: 151 1.7% (2007 est.)

0.7% (2006 est.)

GDP - per capita (PPP):

$1,700 (2008 est.) country comparison to the world: 191 $1,700 (2007 est.)

$1,700 (2006 est.)

note: data are in 2008 US dollars

GDP - composition by sector:

agriculture: 28%

industry: 21.6%

services: 50.4% (2008 est.)

Labor force:

7.346 million (68% agricultural) (2008 est.) country comparison to the world: 60

Labor force - by occupation:

agriculture: 68%

industry and services: NA (2007 est.)

Unemployment rate:

note: unemployment may have climbed to 40–50% as a result of the civil war

Population below poverty line:

42% (2006 est.)

Household income or consumption by percentage share:

lowest 10%: 2%

highest 10%: 34% (2002)

Distribution of family income - Gini index:

44.6 (2002) country comparison to the world: 46 36.7 (1995)

Investment (gross fixed):

9.5% of GDP (2008 est.) country comparison to the world: 146

Budget:

revenues: $4.823 billion

expenditures: $4.915 billion (2008 est.)

Public debt:

66.4% of GDP (2008 est.) country comparison to the world: 18 74.8% of GDP (2004 est.)

Inflation rate (consumer prices):

6.3% (2008 est.) country comparison to the world: 108 1.9% (2007 est.)

Central bank discount rate:

4.75% (31 December 2008) country comparison to the world: 116 4.25% (31 December 2007)

Commercial bank prime lending rate:

The 2009 CIA World Factbook

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