Djibouti Economy: from the All Country Info reference guide to country facts

Djibouti Economy

Djibouti Economy: A summary of information about Djibouti Economy, from government research data as well as independent research and other sources.

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Djibouti: Economy

Economy - overview
The economy is based on service activities
connected with the country's strategic location and status as a free
trade zone in northeast Africa. Two-thirds of the inhabitants live in
the capital city, the remainder being 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. It 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 40% to 50% continues to be a major problem.
Inflation is not a concern, however, because of the fixed tie of the
franc to the US dollar. 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). Also,
renewed fighting between Ethiopia and Eritrea has disturbed normal
external channels of commerce. 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 - $550 million (1999 est.)
GDP - real growth rate
2% (1999 est.)
GDP - per capita
purchasing power parity - $1,200 (1999 est.)
GDP - composition by sector
agriculture: 3%
industry: 20%
services: 77% (1996 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
0% (1999 est.)
Labor force
282,000
Labor force - by occupation
agriculture 75%, industry 11%, services
14% (1991 est.)
Unemployment rate
40%-50% (1996 est.)
Budget
revenues: $156 million
expenditures: $175 million, including capital expenditures of $NA
(1997 est.)
Industries
limited to a few small-scale enterprises, such as dairy
products and mineral-water bottling
Industrial production growth rate
3% (1996 est.)
Electricity - production
177 million kWh (1998)
Electricity - production by source
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
165 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
fruits, vegetables; goats, sheep, camels
Exports
$260 million (f.o.b., 1999 est.)
Exports - commodities
reexports, hides and skins, coffee (in transit)
Exports - partners
Somalia 53%, Yemen 23%, Ethiopia 5%, (1998)
Imports
$440 million (f.o.b., 1999 est.)
Imports - commodities
foods, beverages, transport equipment,
chemicals, petroleum products
Imports - partners
France 13%, Ethiopia 12%, Italy 9%, Saudi Arabia
6%, UK 6% (1998)
Debt - external
$350 million (1999 est.)
Economic aid - recipient
$106.3 million (1995)
Currency
1 Djiboutian franc (DF) = 100 centimes
Exchange rates
Djiboutian francs (DF) per US$1 - 177.721 (fixed rate
since 1973)
Fiscal year
calendar year
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