Economy
Ivory Coast has, for the region, a relatively high income per capita (USD 960 in 2007) and plays a key role in transit trade for neighboring, landlocked countries. The country is the largest economy in the West African Economic and Monetary Union, constituting 40 percent of the monetary union’s total GDP. The country is the world's largest exporter of cocoa, and the fourth largest exporter of goods, in general, in sub-Saharan Africa (following South Africa, Nigeria and Angola).
The maintenance of close ties to France since independence in 1960, diversification of agriculture for export, and encouragement of foreign investment, have been factors in the economic growth of Ivory Coast. In recent years Ivory Coast has been subject to greater competition and falling prices in the global marketplace for its primary agricultural crops: coffee and cocoa. That, compounded with high internal corruption, makes life difficult for the grower and those exporting into foreign markets.
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Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)