Capital City: Yamoussoukro
	It is %T:%M %A in Yamoussoukro, Abidjan

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Economic trends

The economy of Ivory Coast has been slowly declining since the outbreak of the armed rebellion in September 2002, resulting into cut off of most external assistance (except humanitarian aid), mounting domestic and foreign debt, and a drastic slowdown in foreign and domestic investment. The GDP growth rate was 0.9% in 2006 and 1.7% in 2007, economic revival coming with the presidential elections of 2007. IMF forecasts an optimistic GDP growth rate of 3.8% in 2008. Ivorian economy largely depends on external factors like climatic conditions and international commodity prices. The living standard of population and condition of infrastructure has worsened since 2002. However, inflation is under control (2.5% in 2007).

Main branches of industry

The country's economy basically relies on agriculture. The agriculture sector employs two-thirds of the active population and contributes 20% to its GDP. Ivory Coast is among the world's largest producers and exporters of cocoa beans (world's largest producer of cocoa), coffee, and palm-kernel oil. Production of rubber has increased substantially in recent years. Certain mining activity takes place in the country which includes gold, diamonds, and nickel. But in 2005 the UN Security Council banned diamond export because it financed the purchase of guns used in the country's civil strife. The industrial sector includes food-processing, textiles, construction material, fertilizer, tuna canning, and assembly of motor vehicles & bicycles. The industrial & mining sector contributes nearly 22% to the GDP; while as the service sector contributes around 57%.

International trade

Ivory Coast is the hub of commercial activities in West Africa. The share of foreign trade in its GDP is 90%. Ivory Coast is a member of UEMOA (West African Economic and Monetary Union) which enforces Common External Tariff (TEC). It also belongs to the Franc Zone. Its top three export partners are: France, the USA and the Netherlands. The country mainly exports cocoa (contributes 40% to export revenue), mineral fuels & oils, vehicles, wood, and ships & boats. Ivory Coast's top three import partners are: France, Nigeria, and Singapore. The commodities mainly imported are mineral fuels & oils, vehicles, ships & boats, cereals, and machinery.