Economy Of Djibouti - Djibouti Information

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Economy Of Djibouti
Djibouti Information - Country Guides

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 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). 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 - $619 million (2002 est.)
GDP - real growth rate	3.5% (2002 est.)
GDP - per capita	purchasing power parity - $1,300 (2002 est.)
GDP - composition by sector	agriculture: 3.5% industry: 15.8% services: 80.7% (2001 est.)
Investment gross fixed
Population below poverty line	50% (2001 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	2% (2002 est.)
Labor force	282,000 (2000)
Labor force by occupation	NA
Unemployment rate	50% (2004 est.)
Budget	revenues: $135 million expenditures: $182 million, including capital expenditures of na (1999 est.)
Public debt
Agriculture products	fruits, vegetables; goats, sheep, camels
Industries	construction, agricultural processing
Industrial production growth rate	3% (1996 est.)
Electricity production	180 million kWh (2001)
Electricity production by source	fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity consumption	167.4 million kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	11,300 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
Exports	$155 million f.o.b. (2002 est.)
Exports commodities	reexports, hides and skins, coffee (in transit)
Exports partners	Somalia 63.9%, Yemen 22.5%, Ethiopia 4.7% (2003)
Imports	$665 million f.o.b. (2002 est.)
Imports commodities	foods, beverages, transport equipment, chemicals, petroleum products
Imports partners	Saudi Arabia 19.7%, Ethiopia 10.9%, China 9.2%, France 6.5%, UK 5.1%, US 4.9% (2003)
Reserves of foreign exchange gold
Debt external	$366 million (2002 est.)
Economic aid recipient	$36 million (2001)
Currency	Djiboutian franc (DJF)
Currency code	DJF
Exchange rates	Djiboutian francs per US dollar - 177.721 (2003), 177.721 (2002), 177.721 (2001), 177.721 (2000), 177.721 (1999)
Fiscal year	calendar year

Djiboutian Flag Map Of Djibouti

Economy Of DjiboutiDjibouti Information - Country Guides

Economy Of Djibouti
Djibouti Information - Country Guides