Industry/Economy
By the end of the first decade of independence, the government’s economy growth had developed successfully. Cash crops expanded, unprocessed cocoa or coffee & timber vanished. Using the profit from the sales, the government upgraded roads, improved education and a lot more. So you can say it was a good decade for them!
Cocoa
Cocoa in particular, is Ivory Coast’s main and largest export. The country exports more than a third of the world’s cocoa! That’s like 41% of the world supply (Imposibruu) Unfortunately, Cocoa production is threatened by pests and diseases, particularly “Phytophthora palmivora” also know as Black Pod disease. It also affects global production as high as 30%. Some farmers are unable to afford the type of spray to prevent it from happening, leading to under-investment. Sadly this year, is it said that the production of Cocoa will drop down by 13% due to decreased investment.
Cocoa in particular, is Ivory Coast’s main and largest export. The country exports more than a third of the world’s cocoa! That’s like 41% of the world supply (Imposibruu) Unfortunately, Cocoa production is threatened by pests and diseases, particularly “Phytophthora palmivora” also know as Black Pod disease. It also affects global production as high as 30%. Some farmers are unable to afford the type of spray to prevent it from happening, leading to under-investment. Sadly this year, is it said that the production of Cocoa will drop down by 13% due to decreased investment.
Oil & Gas
Cote d’lvoire has a lot of resources such as massive electricity capacity, natural gas & oil. Oil was first discovered in 1977.Well, offshore oil. It was found on the continental shelf off the coast of Jacqueville, west of Abidjan After a short period of time, a second discovery was found in Abidjan. When they discovered the 2 fields, the price of the cocoa had dropped down. If cocoa had gone up, the country could have been richer. Sadly, it didn’t happen. About 86% of oil and gas wells can be found in shallow marine areas, 7% located in deep offshore wells & the remaining (7%) oil and gas wells can be found onshore.
There are other products of Ivory Coast such as palm oil, coconut oil, pineapple & rubber
With good investment and enough natural resources in Abidjan (main refinery) the country is able to recover from under-investment. However in the future, the economic success lies on the peace and stability of the country.
As you can see in the video, the man explains about the cocoa.