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Doing Business in Cote D’Ivoire
This unstable political situation has had a negative effect on businesses, investment and the economic environment in general. The Ouagadougou Political Agreement yields the potential for political stability and peace. Despite delays in its implementation and the presidential election, businesses continue to function – many foreign companies are profitable, and most have been able to conduct their affairs since the initial outbreak of hostilities in September 2002. Companies considering doing business in Côte d'Ivoire
must weigh carefully the possibility of worthwhile returns and decide if the risk level is acceptable given the potential rewards.
General Market Overview & Trade Statistics:
- Cote d’Ivoire’s economy grew at 1.8% in 2007, 2.9% in 2008, and is expected to rise by 4.6% in 2009.
- In 2007, total population was estimated at 20 million inhabitants, with a demographic growth rate of 3.3%.
- Agriculture represents 21% of the economy and engages approximately 60% of the population. Cocoa production was 1.3 million tons in 2007, the highest in the world, producing approximately $1 billion in revenues.
- Oil and gas production were respectively 16 million barrels and 1.5 billion cubic feet in 2008. Oil and petroleum-related exports reached an estimated $1.3 billion in 2007. Precise statistics for offshore oil and gas production are difficult to determine, but according to the National Petroleum Company, Petroci, average oil production reached 49,000 barrels per day by the end of 2008.
- Diamond and gold production would improve with the country’s reunification.
