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World > Africa > Djibouti > Economy (Facts)

Djibouti - Economy (Facts)
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 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 Djibouti's 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 - real growth rate: 3.2% (2005 est.)
GDP (purchasing power parity): $1.878 billion (2006 est.)
GDP (official exchange rate): $702 million (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.)
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.)
Labor force: 282,000 (2000)
Labor force - by occupation: agriculture: NA
industry: NA
services: NA
Unemployment rate: 50% (2004 est.)
Budget: revenues: $135 million
expenditures: $182 million; including capital expenditures of NA (1999 est.)
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.)
Agriculture - products: fruits, vegetables; goats, sheep, camels, animal hides
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: Djibouti Franc (DJF)
Currency code: DJF
Exchange rates: Djiboutian francs per US dollar - 174.75 (2006), 177.72 (2005), 177.72 (2004), 177.72 (2003), 177.72 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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