| Economy | 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 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):
|
$1.889 billion (2008 est.)
$1.782 billion (2007)
$1.693 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$3,700 (2008 est.)
$3,600 (2007 est.)
$3,500 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
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$973 million (2008 est.) |
GDP - real growth rate:
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6% (2008 est.)
5.3% (2007 est.)
4.8% (2006 est.) |
GDP - composition by sector:
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agriculture: 3.2%
industry: 14.9%
services: 81.9% (2006 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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42% (2007 est.) |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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5% (2007 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
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NA |
Stock of money:
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$380 million (31 December 2007) |
Stock of money - per capita:
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737 USD per capita |
Stock of quasi money:
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$284.1 million (31 December 2007) |
Stock of quasi money - per capita:
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551 USD per capita |
Stock of domestic credit:
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$224.7 million (31 December 2007) |
Stock of domestic credit - per capita:
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436 USD per capita |
Labor force:
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282,000 (2000) |
Labor force participation rate:
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54.65 % of population |
Labor force - by occupation:
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agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
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59% in urban areas, 83% in rural areas (2007 est.) |
Budget:
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revenues: $135 million
expenditures: $182 million (1999 est.) |
Budget revenues per capita:
|
262 USD per capita |
Public debt:
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void |
Industries:
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construction, agricultural processing |
Industrial production growth rate:
|
void |
Electricity - production:
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250 million kWh (2006 est.) |
Electricity - production per capita:
|
485 kWh per capita |
Electricity - consumption:
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232.5 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
451 kWh per capita |
Electricity - exports:
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0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
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0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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12,170 bbl/day (2006 est.) |
Oil - consumption - per capita:
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8.61 bbl/year per capita |
Oil - exports:
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19.18 bbl/day (2005) |
Oil - imports:
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11,810 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
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fruits, vegetables; goats, sheep, camels, animal hides |
Current account balance:
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-$212 million (2007 est.) |
Current account balance - per capita:
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-410 USD per capita |
Exports:
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$340 million f.o.b. (2006) |
Exports per capita:
|
659 USD per capita |
Exports - commodities:
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reexports, hides and skins, coffee (in transit) |
Exports - partners:
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Somalia 66.4%, Ethiopia 21.5%, Yemen 3.4% (2007) |
Imports:
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$1.555 billion f.o.b. (2006) |
Imports per capita:
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3,014 USD per capita |
Imports - commodities:
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foods, beverages, transport equipment, chemicals, petroleum products |
Imports - partners:
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Saudi Arabia 21%, India 18.1%, China 9.4%, Ethiopia 4.7%, Malaysia 4.6%, Japan 4.2% (2007) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
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$428 million (2006) |
Debt - external - per capita:
|
830 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$78.6 million (2005) |
Economic aid - recipient per capita:
|
153 USD per capita |
Currency (code):
|
Djiboutian franc (DJF) |
Exchange rates:
|
Djiboutian francs (DJF) per US dollar - 177.71 (2007), 174.75 (2006), 177.72 (2005), 177.72 (2004), 177.72 (2003) |
Fiscal year:
|
calendar year |
|
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