Economics

= **The Economy:** = The economy is primarily based on the agricultural aspect of the country. Between 60% and 70% of the Ivoirian people are engaged in some form of agricultural activity. The economy performed poorly in the 1980s and early 1990s, and high population growth coupled with economic decline resulted in a steady fall in living standards. A majority of the population remains dependent on smallholder cash crop production. Since the colonial period, Cote d'Ivoire's economy has been based on the production and export of tropical products.Cote d'Ivoire produces 40% of the world's cocoa crop and is a major exporter of bananas, coffee, cotton, palm oil, pineapples, rubber, tropical wood products, and tuna.
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The country had been a powerhouse for export goods but when rebel groups and government officials found their differences, these exports were used in favor of whomever wanted power. December 2005, the Security Council extended the arms embargo against Côte d'Ivoire to include a ban on rough diamond exports from the country due to these exports being mined and sold into the international market. The term "Blood Diamond" is used for diamonds being mined in neighboring rebel enforced countries and has been seen throughout Cote d'Ivoire. This means that people of the country are forced into labor by rebel groups and live in extremely poor, dangerous conditions to mine for these resources and receive little or no compensation. Many deaths occur due to this process seen throughout these countries.



**Economic resources:**
petroleum, natural gas, diamonds, manganese, iron ore, cobalt, bauxite, copper, gold, nickel, tantalum, silica sand, clay, palm oil, Hydro-power
 * cocoa beans, coffee
 * cocoa has been the countries leading export good, number one export nation for cocoa in the world.

Elections and the economy: Exports effect the world
The country is the world's leading exporter of cocoa beans. This one export holds much power over the country's economy and status. During recent elections, controversy over which candidate won the presidency caused for the cocoa products to stop mid transportation. President Ouattara, internationally acknowledged president, had stopped all shipments of this product in a last-stitch effort to halt funding to former president Gbagbo. Due to this, cocoa prices were up by 30% for all of those buyers around the world. (Meaning a snickers would cost more for you to buy in America than it would have before November.) Within three months of the cocoa crisis, the UN declared at lease 365 natives died do to the chaos. Cocoa farmers had difficulty finding anyone to finance their goods as well. Cocoa, oil and coffee are the country’s top [|revenue] earners, according to the Central Intelligence Agency. About 68 percent of the population depends on agriculture and related activities.


 * GDP per Capita:**U.S. $1,400

__**Other Facts:**__

 * 1) About 42% of the country lives below the poverty line.
 * 2) U.s. is the number 1 export partner at 11.6%, Netherlands is 2nd at 10.2%
 * 3) GDP (Gross Domestic Product): agriculture: 28.2%, industry: 21.3%, services: 50.6%

1. Cote d'Ivoire is the number one producer of which product? a. coffee b. palm oil c. Cocoa beans d. patrolium

2. What is the number one source of economic growth in Cote d'Ivoire? a. agriculture b. manufacturing c. automotomobiles d. tourism

answers:(highlight the number to see answer) 1. c 2. a Resources: [|____https://www.cia.gov/library/publications/the-world-factbook/geos/iv.html____] @http://www.nationsencyclopedia.com/Africa/C-te-D-ivoire.html

Jessica Douglas © Illinois State University Date of creation: March 31, 2011 Last modified:May 1, 2011 e-mail: Jldoug2@ilstu.edu