Djibouti

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Introduction - Djibouti:
Location - Djibouti:
People - Djibouti:
Government - Djibouti:
Economy - Djibouti:

Economy overview

The economy is based on service activities connected with the countrys strategic location and status as a free trade zone in northeast Africa. Two-thirds of the inhabitants live in the capital city; the remainder are mostly nomadic herders. Scanty rainfall limits crop production to fruits and vegetables, and most food must be imported. Djibouti provides services as both a transit port for the region and an international transshipment and refueling center. Djibouti has few natural resources and little industry. The nation is, therefore, heavily dependent on foreign assistance to help support its balance of payments and to finance development projects. An unemployment rate of 50% continues to be a major problem. While inflation is not a concern, due to the fixed tie of the Djiboutian franc to the US dollar, the artificially high value of the Djiboutian franc adversely affects Djiboutis balance of payments. Per capita consumption dropped an estimated 35% over the last seven years because of recession, civil war, and a high population growth rate (including immigrants and refugees). Faced with a multitude of economic difficulties, the government has fallen in arrears on long-term external debt and has been struggling to meet the stipulations of foreign aid donors.

Gdp purchasing power parity

$1.878 billion (2006 est.)

Gdp official exchange rate

$702 million (2005 est.)

Gdp real growth rate

3.2% (2005 est.)

Gdp per capita ppp

$1,000 (2005 est.)

Gdp composition by sector

agriculture: 17.9%
industry: 22.5%
services: 59.6% (2003 est.)

Labor force

282,000 (2000)

Labor force by occupation

agriculture: NA%
industry: NA%
services: NA%

Unemployment rate

50% (2004 est.)

Population below poverty line

50% (2001 est.)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

3% (2005 est.)

Budget

revenues: $135 million
expenditures: $182 million; including capital expenditures of $NA (1999 est.)

Agriculture products

fruits, vegetables; goats, sheep, camels, animal hides

Industries

construction, agricultural processing

Industrial production growth rate

3% (1996 est.)

Electricity production

200 million kWh (2004)

Electricity consumption

186 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004)

Oil consumption

11,900 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Exports

$250 million f.o.b. (2004 est.)

Exports commodities

reexports, hides and skins, coffee (in transit)

Exports partners

Somalia 66.3%, Ethiopia 21.5%, Yemen 3.4% (2006)

Imports

$987 million f.o.b. (2004 est.)

Imports commodities

foods, beverages, transport equipment, chemicals, petroleum products

Imports partners

Saudi Arabia 21.4%, India 17.9%, China 11%, Ethiopia 4.6% (2006)

Debt external

$394 million (2004 est.)

Economic aid recipient

$64.1 million (2004)

Currency code

Djiboutian franc (DJF)

Exchange rates

Djiboutian francs per US dollar - 174.75 (2006), 177.72 (2005), 177.72 (2004), 177.72 (2003), 177.72 (2002)

Communications - Djibouti:
Transportation - Djibouti:
Military - Djibouti:
This page was last updated on 16 September, 2007
Source: CIA >>>


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