Economy of Cote d'Ivoire

Cote d'Ivoire is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Cote d'Ivoire may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Cote d'Ivoire exports around $12.96 billion and imports roughly $9.86 billion. 2.6% of population in the country are unemployed. The total number of unemployed people in Cote d'Ivoire is 647,552. In Cote d'Ivoire, 46% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Cote d'Ivoire is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 4.6% of GDP. The Gini Index of the country is 41.5. Cote d'Ivoire is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Cote d'Ivoire has a Human Development Index (HDI) of 0.452. Cote d'Ivoire has a lower medium HDI score. This indicates that the majority of citizens will struggle to attain a desirable life due to flawed economic and social systems. The Global Peace Index (GPI) for Cote d'Ivoire is 2.133. The strength of legal rights index for Cote d'Ivoire is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of Cote d'Ivoire is West African CFA Franc. The plural form of the word West African CFA Franc is CFA francs. The symbol used for this currency is Fr, and it is abbreviated as XOF. The West African CFA Franc is divided into Centime; there are 100 in one CFA Franc.

Credit rating

The depth of credit information index for Cote d'Ivoire is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible.

Central bank

The prime lending rate of Cote d'Ivoire's commercial banks is 3.5. In Cote d'Ivoire, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of West African States. Locally, the central bank of Cote d'Ivoire is called Banque Centrale des États de l'Afrique de l'Ouest, BCEAO. The average deposit interest rate offered by local banks in Cote d'Ivoire is 3.5%.

Public debt

Cote d'Ivoire has a government debt of 18.4% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Cote d'Ivoire is set at 25%. Personal income tax ranges from 0% to 10%, depending on your specific situation and income level. VAT in Cote d'Ivoire is 18%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Cote d'Ivoire is $48 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Cote d'Ivoire was last recorded at $0 million. PPP in Cote d'Ivoire is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Cote d'Ivoire is 28,593 billion. Based on this statistic, Cote d'Ivoire is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Cote d'Ivoire was last recorded at $1 million. The average citizen in Cote d'Ivoire has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Cote d'Ivoire averaged 8.5% in 2014. According to this percentage, Cote d'Ivoire is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Cote d'Ivoire.

Industry

Major industries in the country are foodstuffs, beverages, wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity. The total labor force of Cote d'Ivoire is 8,016,080 people, wherein 2.6% of population in the country are unemployed. The total number of unemployed people in Cote d'Ivoire is 647,552. The Industrial Production growth rate of Cote d'Ivoire is 8.4%.To read more about industrial information within Cote d'Ivoire click on industry of Cote d'Ivoire.

Agriculture

There are 32531 km² of arable land in Cote d'Ivoire, and it comprises 10% of the country's total territory. There are 68020 km² of cultivated land in Cote d'Ivoire. The country's major agricultural crops and products are coffee, cocoa beans, bananas, palm kernels, corn, rice, manioc, sweet potatoes, sugar, cotton, rubber, timber.To read more about agriculture click on agriculture of Cote d'Ivoire.