Cote d'Ivoire is among the world's largest producers and exporters of coffee, cocoa beans, and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and to weather conditions. The economy performed poorly in the 1980s and early 1990s, and high population growth coupled with economic decline resulted in a steady fall in living standards. After several years of lagging performance, the Ivorian economy began a comeback in 1994, due to the devaluation of the CFA franc and improved prices for cocoa and coffee, growth in nontraditional primary exports such as pineapples and rubber, limited trade and banking liberalization, offshore oil and gas discoveries, and generous external financing and debt rescheduling by multilateral lenders and France. A majority of the population remains dependent on smallholder cash crop production.
Principal exports are cocoa, coffee, and tropical woods.
Principal U.S. exports are rice and wheat, plastic materials and resins, Kraft paper, agricultural chemicals, telecommunications, and oil and gas equipment. Principal U.S. imports are cocoa and cocoa products, petroleum, rubber, and coffee. France is overwhelmingly the most important foreign investor. By developing country standards, Cote d'Ivoire has an outstanding infrastructure. Cote d'Ivoire's location and easy, reliable connection to neighboring countries makes it a preferred platform from which to conduct West African operations.