Page last updated on February 5, 2013
Economy - overview:
Djibouti's 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. Three-fourths 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 70% 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% in urban areas 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. Djibouti holds foreign reserves amounting to less than six months of import coverage. 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). Djibouti has experienced relatively minimal impact from the global economic downturn, but its reliance on diesel-generated electricity and imported food leave average consumers vulnerable to global price shocks. Djibouti in 2012 began construction of a third port to secure its position as a critical transshipment hub in the Horn of Africa and the principal conduit for Ethiopia's trade. Djibouti also received funding in late 2012 for a desalination plant to begin address the severe freshwater shortage affecting Djibouti City, and particularly its poorest residents.
GDP (purchasing power parity):
$2.377 billion (2012 est.)
country comparison to the world: 187
$2.267 billion (2011 est.)
$2.17 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$1.36 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4.8% (2012 est.)
country comparison to the world: 65
4.5% (2011 est.)
3.5% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$2,700 (2012 est.)
country comparison to the world: 177
$2,700 (2011 est.)
$2,600 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 3.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
16.9%
services:
80% (2012 est.)
Labor force:
351,700 (2007)
country comparison to the world: 160
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
NA%
services:
NA%
Unemployment rate:
59% (2007 est.)
country comparison to the world: 195
note:
data are for urban areas, 83% in rural areas
[see also: Unemployment rate country ranks ]
Population below poverty line:
42% (2007 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 2.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
30.9% (2002)
Budget:
revenues: $485.6 million
[see also: Budget revenues country ranks ]
expenditures:
$502 million (2012 est.)
Taxes and other revenues:
35.7% of GDP (2012 est.)
country comparison to the world: 67
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-1.2% of GDP (2012 est.)
country comparison to the world: 62
[see also: Budget surplus (+) or deficit (-) country ranks ]
Inflation rate (consumer prices):
4.3% (2012 est.)
country comparison to the world: 120
4.4% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Commercial bank prime lending rate:
10% (31 December 2012 est.)
country comparison to the world: 83
10.61% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$798.1 million (31 December 2012 est.)
country comparison to the world: 154
$692.6 million (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$1.158 billion (31 December 2012 est.)
country comparison to the world: 164
$1.008 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$498.1 million (31 December 2012 est.)
country comparison to the world: 173
$426.3 million (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Agriculture - products:
fruits, vegetables; goats, sheep, camels, animal hides
Industries:
construction, agricultural processing
Current account balance:
$4.2 million (2012 est.)
country comparison to the world: 57
$33 million (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$101.7 million (2012 est.)
country comparison to the world: 192
$96.8 million (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
reexports, hides and skins, coffee (in transit)
Exports - partners:
Somalia 74.5%, Sudan 6.7%, Egypt 5.1% (2011)
Imports:
$465.1 million (2012 est.)
country comparison to the world: 190
$413.8 million (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
foods, beverages, transport equipment, chemicals, petroleum products
Imports - partners:
Saudi Arabia 17.6%, China 16.1%, India 15.4%, Indonesia 5.9%, Malaysia 5.1%, US 4.2%, Pakistan 4.1% (2011)
Debt - external:
$802.9 million (31 December 2012 est.)
country comparison to the world: 163
$802.5 million (31 December 2011 est.)
[see also:
Debt - external country ranks ]
Stock of direct foreign investment - at home:
$331.6 million (31 December 2012 est.)
country comparison to the world: 99
$331.6 million (31 December 2011 est.)
[see also:
Stock of direct foreign investment - at home country ranks ]
Exchange rates:
Djiboutian francs (DJF) per US dollar -
177.7 (2012 est.)
177.72 (2011 est.)
177.72 (2010 est.)
Fiscal year:
calendar year
NOTE: The information regarding Djibouti on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Djibouti Economy 2013 information contained here. All suggestions for corrections of any errors about Djibouti Economy 2013 should be addressed to the CIA.
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