|
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.) |
|
Population
below poverty line: |
50% (2001 est.)
|
|
Household
income or consumption by percentage share: |
lowest 10%:
NA
highest 10%: NA |
|
Inflation
rate (consumer prices): |
2% (2002 est.)
|
|
Labor
force: |
282,000 (2000)
|
|
Labor
force - by occupation: |
NA |
|
Unemployment rate: |
50% (2000 est.)
|
|
Budget: |
revenues:
$135 million
expenditures: $182 million, including capital expenditures of
NA (1999 est.) |
|
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) |
|
Exports: |
$155 million
f.o.b. (2002 est.) |
|
Exports -
commodities: |
reexports, hides and
skins, coffee (in transit) |
|
Exports -
partners: |
Somalia 61.6%, Yemen
21.7%, Pakistan 6.1%, Ethiopia 4.5% (2003 est.) |
|
Imports: |
$665 million
f.o.b. (2002 est.) |
|
Imports -
commodities: |
foods, beverages,
transport equipment, chemicals, petroleum products |
|
Imports -
partners: |
Saudi Arabia 20.2%,
Ethiopia 11.1%, China 9.4%, France 6.7%, UK 5.2%, US 5% (2003 est.)
|
|
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
|