Economy in Djibouti

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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. 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—$520 million (1997 est.)

GDP—real growth rate: 0.5% (1997 est.)

GDP—per capita: purchasing power parity—$1 200 (1997 est.)

GDP—composition by sector:

agriculture: 4%

industry: 20%

services: 76% (1996 est.)

Inflation rate—consumer price index: 3% (1997 est.)

Labor force:

total: 282 000

by occupation: agriculture 75% industry 11% services 14% (1991 est.)

Unemployment rate: 40%-50% (1996 est.)

Budget:

revenues: $300 million

expenditures: $6988million 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—capacity: 85 000 kW (1995)

Electricity—production: 180 million kWh (1995)

Electricity—consumption per capita: 427 kWh (1995)

Agriculture—products: fruits vegetables; goats sheep camels

Exports:

total value: $39.6 million (f.o.b. 1996 est.)

commodities: hides and skins coffee (in transit) (1995)

partners: Ethiopia 45% Somalia Yemen Saudi Arabia (1996)

Imports:

total value: $200.5 million (f.o.b. 1996 est.)

commodities: foods beverages transport equipment chemicals petroleum products (1995)

partners: France Ethiopia Italy Saudi Arabia Thailand (1996)

Debt—external: $276 million (1996 est.)

Economic aid:

recipient: ODA $NA

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

Key indicators 1999 2000 2001 2002 2003 2004 2005 2006 2007

Agriculture, value added (% of GDP) 3 4 4 4 4 4 4 4 4

Exports of goods and services (% of GDP) 37 35 37 39 40 37 41 40 58

GNI per capita, PPP (current international $) 1,600 1,600 1,620 1,670 1,820 1,940 2,020 2,180 2,260

GDP (current US$) 536,080,160 551,230,848 572,417,472 591,122,048 622,044,672 666,072,128 708,843,648 768,873,664 830,383,552

GDP growth (annual %) 2 0 2 3 3 4 3 5 4

GNI, PPP (current international $) 1,133,734,234 1,169,579,416 1,214,201,162 1,272,811,610 1,414,906,788 1,533,039,208 1,628,194,900 1,785,895,623 1,885,482,022

Gross capital formation (% of GDP) 9 9 8 10 14 22 19 30 38

Inflation, GDP deflator (annual %) 2 2 2 1 2 3 3 4 4

Population, total 709,404 729,736 747,302 762,775 776,784 790,344 804,206 818,508 832,992

Total debt service (% of exports of goods, services and income) 4 6 5 5 5 6 5 6 ..  

 

 

 

 

 

 

 

 

 

 

 

 

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