Short facts about the economy in Djibouti

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. 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. The year 2001 will see only small growth as port activity should decrease now that Ethiopia has more trade route options.

GDP:	purchasing power parity - $574 million (2000 est.)

GDP - real growth rate:

2% (2000 est.)

GDP - per capita:

purchasing power parity - $1,300 (2000 est.)

GDP - composition by sector:

agriculture:  3% industry:  22% services:  75% (1998 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%:  NA% highest 10%:  NA%

Inflation rate (consumer prices):

2% (2000 est.)

Labor force:

282,000

Labor force - by occupation:

agriculture 75%, industry 11%, services 14% (1991 est.)

Unemployment rate:

50% (2000 est.)

Budget:

revenues:  $133 million expenditures:  $187 million, including capital expenditures of $NA (1999 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 - production:

180 million kWh (1999)

Electricity - production by source:

fossil fuel:  100% hydro:  0% nuclear:  0% other:  0% (1999)

Electricity - consumption:

167.4 million kWh (1999)

Electricity - exports:

0 kWh (1999)

Electricity - imports:

0 kWh (1999)

Agriculture - products:

fruits, vegetables; goats, sheep, camels

Exports:

$260 million (f.o.b., 1999 est.)

Exports - commodities:

reexports, hides and skins, coffee (in transit)

Exports - partners:

Somalia 53%, Yemen 23%, Ethiopia 5%, (1998)

Imports:

$440 million (f.o.b., 1999 est.)

Imports - commodities:

foods, beverages, transport equipment, chemicals, petroleum products

Imports - partners:

France 13%, Ethiopia 12%, Italy 9%, Saudi Arabia 6%, UK 6% (1998)

Debt - external:

$356 million (1999 est.)

Economic aid - recipient:

$106.3 million (1995)

Currency:

Djiboutian franc (DJF)

Currency code:

DJF

Exchange rates:

Djiboutian francs per US dollar - 177.721 (fixed rate since 1973)

Fiscal year:

calendar year

Source: World Factbook