Economy of Côte d'Ivoire

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Economy of Côte d'Ivoire

Post by Guest on Sun Dec 05, 2010 11:59 pm

Côte d’Ivoire has for the region a relatively high income per capita (USD 960 in 2007) and plays a key role in transit trade for neighboring landlocked countries. The country is the largest economy in the West African Economic and Monetary Union, constituting 40 percent of the monetary union’s total GDP. The country is the world's largest exporter of cocoa, and the fourth largest exporter of goods in sub-Saharan Africa (followed by South Africa, Nigeria and Angola). [35]

The maintenance of close ties to France since independence in 1960, diversification of agriculture for export, and encouragement of foreign investment, have been factors in the economic growth of Côte d'Ivoire. In recent years Côte d'Ivoire has been subject to greater competition and falling prices in the global marketplace for its primary agricultural crops: coffee and cocoa. That, compounded with high internal corruption, makes life difficult for the grower and those exporting into foreign markets.

Côte d'Ivoire is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).[36]

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