Côte d'Ivoire's exports have diversified over the years, ranging from a reliance on cocoa, coffee, and other tropical agricultural products, to new growth in exports of light manufactured goods, petroleum products, and electricity. The success of these exports has led to a positive foreign trade balance. The country, however, has external debt service arrears in the amount of $415 million (2001). Total external debt stands at around $11 billion, approximately the same amount as annual GDP, or more than three times annual export earnings. The country also has internal debt service payments of over $2 billion, or approximately 18% of GDP.
The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Côte d'Ivoire's exports was $3.6 billion while imports totaled $2.4 billion resulting in a trade surplus of $1.2 billion.
The International Monetary Fund (IMF) reports that in 2001 Côte d'Ivoire had exports of goods totaling $3.95 billion and imports totaling $2.41 billion. The services credit totaled $487 million and debit $1.23 billion. The following table summarizes Côte d'Ivoire's balance of payments as reported by the IMF for 2001 in millions of US dollars.
Current Account | -58 |
Balance on goods | 1,540 |
Balance on services | -745 |
Balance on income | -577 |
Current transfers | -275 |
Capital Account | 10 |
Financial Account | -24 |
Direct investment abroad | … |
Direct investment in Côte d'Ivoire | 246 |
Portfolio investment assets | -13 |
Portfolio investment liabilities | 5 |
Other investment assets | -170 |
Other investment liabilities | -89 |
Net Errors and Omissions | -23 |
Reserves and Related Items | 94 |
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