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Djibouti:
Economy

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Economy - overview
Definition
The economy is based on service activities connected with the country's strategic location and status as a free trade zone in the Horn of Africa. Two-thirds of Djibouti's 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. Imports and exports from landlocked neighbor Ethiopia represent 85% of port activity at Djibouti's container terminal. 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 nearly 60% 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% between 1999 and 2006 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)
Definition - World rank and map
$1.738 billion (2007 est.)
GDP (official exchange rate)
Definition
$841 million (2007 est.)
GDP - real growth rate
Definition - World rank and map
5.2% (2007 est.)
GDP - per capita
Definition - World rank and map
$2,300 (2007 est.)
GDP - composition by sector
Definition
agriculture: 3.2%
industry: 14.9%
services: 81.9% (2006)
Labor force
Definition
282,000 (2000)
Labor force - by occupation
Definition
agriculture: NA%
industry: NA%
services: NA%
Unemployment rate
Definition - World rank and map
59% in urban areas, 83% in rural areas (2007 est.)
Population below poverty line
Definition
42% (2007 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
5% (2007 est.)
Budget
Definition
revenues: $135 million
expenditures: $182 million (1999 est.)
Agriculture - products
Definition
fruits, vegetables; goats, sheep, camels, animal hides
Industries
Definition
construction, agricultural processing
Industrial production growth rate
Definition - World rank and map
3% (1996 est.)
Electricity - production
Definition - World rank and map
306 million kWh (2006)
Electricity - consumption
Definition - World rank and map
226.9 million kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
448.3 kWh (2006)
Electricity - exports
Definition
0 kWh (2006)
Electricity - imports
Definition
0 kWh (2006)
Oil - production
Definition - World rank and map
0 bbl/day (2005)
Oil - consumption
Definition - World rank and map
5,066 bbl/day (2007)
Oil - consumption per 1,000 people
Definition - World rank and map
10 bbl/day (2007)
Oil - exports
Definition - World rank and map
19.13 bbl/day (2004)
Oil - imports
Definition - World rank and map
11,860 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$212 million (2007 est.)
Exports
Definition - World rank and map
$340 million f.o.b. (2006)
Exports - commodities
Definition
reexports, hides and skins, coffee (in transit)
Exports - partners
Definition
Somalia 65.4%, Ethiopia 21.2%, Yemen 3.3% (2006)
Imports
Definition - World rank and map
$1.555 billion f.o.b. (2006)
Imports - commodities
Definition
foods, beverages, transport equipment, chemicals, petroleum products
Imports - partners
Definition
Saudi Arabia 20.5%, India 17.6%, China 9.6%, Ethiopia 4.6%, Malaysia 4.4%, Japan 4.1% (2006)
Debt - external
Definition - World rank and map
$428 million (2006)
Economic aid - recipient
Definition
$78.6 million (2005)
Currency (code)
Definition
Djiboutian franc (DJF)
Exchange rates
Definition
Djiboutian francs per US dollar - 177.71 (2007), 174.75 (2006), 177.72 (2005), 177.72 (2004), 177.72 (2003)
Fiscal year
Definition
calendar year


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