Djibouti Economy 1997

Economy - overview The economy is based on service activities connected with the country'sstrategic location and status as a free trade zone in northeast Africa. Two-thirdsof the inhabitants live in the capital city, the remainder being mostly nomadicherders. Scanty rainfall limits crop production to fruits and vegetables,and most food must be imported. Djibouti provides services as both a transitport 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 (an important supplement to GDP) tohelp support its balance of payments and to finance development projects.An unemployment rate of 40% to 50% continues to be a major problem. Per capitaconsumption dropped an estimated 35% over the last six 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 fallenin arrears on long term external debt and has been struggling to meet thestipulations of foreign aid donors.

GDP purchasing power parity - $500 million (1995 est.)

GDP - real growth rate -3.1% (1995 est.)

GDP - per capita purchasing power parity - $1,200 (1995 est.)

GDP - composition by sector
agriculture : 3%
industry: 21%
services: 76% (1993 est.)

Inflation rate - consumer price index 4.9% (1995 est.)

Labor force
total: 282,000
by occupation: agriculture 75%, industry 11%, services 14% (1991 est.)

Unemployment rate 40%-50% (1996 est.)

Budget
revenues: $150 million
expenditures: $181 million, including capital expenditures of $34 million (1995 est.)

Industries limited to a few small-scale enterprises, such as dairy products andmineral-water bottling

Industrial production growth rate NA%

Electricity - capacity 115,000 kW (1991)

Electricity - production 200 million kWh (1991)

Electricity - consumption per capita 577 kWh (1991)

Agriculture - products fruits, vegetables; goats, sheep, camels

Exports
total value: $184 million (f.o.b., 1994 est.)
commodities: hides and skins, coffee (in transit) (1995)
partners: Somalia 42%, Ethiopia 35%, Yemen 7% (1995 est.)

Imports
total value: $384 million (f.o.b., 1994 est.)
commodities: foods, beverages, transport equipment, chemicals, petroleum products(1995)
partners : Thailand 15%, France 13%, Ethiopia 8%, Saudi Arabia 6% (1995 est.)

Debt - external $267 million (1995 est.)

Economic aid
recipient : ODA, $NA

Currency 1 Djiboutian franc (DF) = 100 centimes

Exchange rates Djiboutian francs (DF) per US$1 - 177.721 (fixed rate since 1973)

Fiscal year calendar year

NOTE: The information regarding Djibouti on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Djibouti Economy 1997 information contained here. All suggestions for corrections of any errors about Djibouti Economy 1997 should be addressed to the CIA.