unbekannter Gast

Djibouti: Economy#

Djibouti's economy is based on service activities connected with the country's strategic location as a deepwater port on the Red Sea. Three-fourths of Djibouti's inhabitants live in the capital city; the remainder are mostly nomadic herders. Scant rainfall limits crop production to small quantities of 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, exports, and re-exports - primarily of coffee 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% 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. 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. President GUELLEH in 2013 told international investors that Djibouti’s development plan is to increase its prominence in financial and communication sectors.

Economic Facts#

GDP (purchasing power parity)$2.505 billion (2013 est.)
$2.386 billion (2012 est.)
$2.275 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate5% (2013 est.)
4.8% (2012 est.)
4.5% (2011 est.)
GDP - per capita (PPP)$2,700 (2013 est.)
$2,700 (2012 est.)
$2,600 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 3%
industry: 17.3%
services: 79.7% (2013 est.)
Population below poverty line18.8%
note: percent of population below $1.25 per day at purchasing power parity (2012 est.)
Household income or consumption by percentage sharelowest 10%: 2.4%
highest 10%: 30.9% (2002)
Labor force - by occupationagriculture: NA%
industry: NA%
services: NA%
Exports - commoditiesreexports, hides and skins, coffee (in transit)
Exports - partnersSomalia 80.1%, UAE 4.4%, Yemen 4.1% (2012)
Agriculture - productsfruits, vegetables; goats, sheep, camels, animal hides
Budgetrevenues: $512.7 million
expenditures: $532.9 million (2013 est.)
Imports - commoditiesfoods, beverages, transport equipment, chemicals, petroleum products
Imports - partnersChina 24.4%, Saudi Arabia 16.4%, India 10.6%, Indonesia 7.3% (2012)
Exchange ratesDjiboutian francs (DJF) per US dollar -
177.7 (2013 est.)
177.72 (2012 est.)
177.72 (2010 est.)
Exports$90.8 million (2013 est.)
$87.9 million (2012 est.)
Debt - external$821.6 million (31 December 2013 est.)
$773.9 million (31 December 2012 est.)
Fiscal yearcalendar year
Imports$593.3 million (2013 est.)
$574.2 million (2012 est.)
Industrial production growth rate8% (2013 est.)
Industriesconstruction, agricultural processing
Inflation rate (consumer prices)2.5% (2013 est.)
7.9% (2012 est.)
Labor force294,600 (2012)
Unemployment rate59% (2007 est.)
note: data are for urban areas only, unemployment is over 80% in rural areas
Distribution of family income - Gini index40.9 (2002)
Public debt38.6% of GDP (2012 est.)
Current account balance-$219.5 million (2013 est.)
-$216.2 million (2012 est.)
GDP (official exchange rate)$1.459 billion (2013 est.)
Stock of direct foreign investment - at home$630.6 million (31 December 2013 est.)
$510.6 million (31 December 2012 est.)
Commercial bank prime lending rate11% (31 December 2013 est.)
12% (31 December 2012 est.)
Stock of domestic credit$523.4 million (31 December 2013 est.)
$483.4 million (31 December 2012 est.)
Stock of narrow money$850.8 million (31 December 2013 est.)
$758.9 million (31 December 2012 est.)
Stock of broad money$1.256 billion (31 December 2013 est.)
$1.16 billion (31 December 2012 est.)
Taxes and other revenues35.1% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-1.4% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 56.6%
government consumption: 23.1%
investment in fixed capital: 35.7%
investment in inventories: 0.5%
exports of goods and services: 35.2%
imports of goods and services: -51.1%
(2013 est.)
Gross national saving21.5% of GDP (2013 est.)
17% of GDP (2012 est.)
16.2% of GDP (2011 est.)