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WEEKLY NEWSLETTER
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Ivory Coast
Index
Salient Features: Economy oriented toward
private
enterprise with extensive government participation through
parastatals, investment, and tax policies. Foreign
investment
welcomed; multinational corporations heavily involved in
two-thirds
of largest thirty businesses dealing in commodity exports,
food
processing, oil refining, textiles, beverages,
construction, and
commercial wholesaling and retailing. Country's principal
resource
agricultural land. Major food crops yams, cassava, rice,
maize, and
plantains.
Agriculture: Thirty-four percent of population
engaged in
subsistence farming. Cash cropping on small plots (coffee,
cocoa,
and cotton) and large plantations (bananas, palm oil,
pineapples,
rubber, and sugar). Agriculture second largest contributor
to gross
domestic product
(GDP--see Glossary) and main source of
exports. In
late 1990s, not self-sufficient in food production.
Manufacturing: Import substitution consumer
goods, some
intermediate inputs for domestic markets, and food
processing--
coffee, cocoa, and sugar--for export. Most industry
required
imported intermediate materials.
Mining: Some diamonds, manganese, iron ore,
cobalt,
bauxite, copper, nickel, colombo-tantalite, ilmenite, and
gold, but
none in significant amounts; offshore oil met about
two-thirds of
local needs.
Energy: Rural population heavily dependent on
wood; urban
population, on electric power, natural gas, and kerosene.
Foreign Trade: Principal exports cocoa, coffee,
and
timber; other exports cotton, sugar, rubber, palm oil, and
pineapples. Principal imports petroleum products,
machinery, and
transport equipment.
Currency: African Financial Community
(Communauté
Financière Africaine) franc (CFAF) equal in 1988 to 315
per dollar
and freely convertible to French francs (FF).
Fiscal Year: January 1 through December 31.
Data as of November 1988
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