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Djibouti Economy Profile 2018

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Economy - overviewDjibouti'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 and less than 4% arable land 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 reexports represent 70% of port activity at Djibouti's container terminal. Reexports consist primarily of coffee from landlocked neighbor Ethiopia. Djibouti has few natural resources and little industry. The nation is, therefore, heavily dependent on foreign assistance to support its balance of payments and to finance development projects. An official unemployment rate of nearly 50% - with youth unemployment near 80% - continues to be a major problem. Inflation was a modest 3% in 2014-2017, due to low international food prices and a decline in electricity tariffs.

Djibouti’s reliance on diesel-generated electricity and imported food and water leave average consumers vulnerable to global price shocks, though in mid-2015 Djibouti passed new legislation to liberalize the energy sector. The government has emphasized infrastructure development for transportation and energy and Djibouti – with the help of foreign partners, particularly China – has begun to increase and modernize its port capacity.
GDP (purchasing power parity)$3.64 billion (2017 est.)
$3.402 billion (2016 est.)
$3.194 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$2.082 billion (2016 est.)
GDP - real growth rate7% (2017 est.)
6.5% (2016 est.)
6.5% (2015 est.)
GDP - per capita (PPP)$3,600 (2017 est.)
$3,400 (2016 est.)
$3,300 (2015 est.)
note: data are in 2017 dollars
Gross national saving12.6% of GDP (2017 est.)
16.9% of GDP (2016 est.)
19% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 56.5%
government consumption: 29.2%
investment in fixed capital: 41.8%
investment in inventories: 0.3%
exports of goods and services: 38.6%
imports of goods and services: -66.4% (2017 est.)
GDP - composition by sectoragriculture: 2.8%
industry: 21%
services: 76.1% (2017 est.)
Population below poverty line23%
note: percent of population below $1.25 per day at purchasing power parity (2015 est.)
Labor force294,600 (2012)
Labor force - by occupationagriculture: NA%
industry: NA%
services: NA%
Unemployment rate60% (2014 est.)
48.4% (2012 est.)
Household income or consumption by percentage sharelowest 10%: 2.4%
highest 10%: 30.9% (2002)
Distribution of family income - Gini index40.9 (2002)
Budgetrevenues: $699.8 million
expenditures: $865.4 million (2017 est.)
Taxes and other revenues33.6% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-8% of GDP (2017 est.)
Public debt31.3% of GDP (2016 est.)
33.7% of GDP (2015 est.)
Inflation rate (consumer prices)3% (2017 est.)
2.7% (2016 est.)
Commercial bank prime lending rate11.6% (31 December 2017 est.)
11.45% (31 December 2016 est.)
Stock of narrow money$1.493 billion (31 December 2017 est.)
$1.323 billion (31 December 2016 est.)
Stock of broad money$1.795 billion (31 December 2017 est.)
$1.652 billion (31 December 2016 est.)
Stock of domestic credit$680.3 million (31 December 2017 est.)
$639.9 million (31 December 2016 est.)
Agriculture - productsfruits, vegetables; goats, sheep, camels, animal hides
Industriesconstruction, agricultural processing, shipping
Industrial production growth rate8.3% (2017 est.)
Current Account Balance-$437 million (2017 est.)
-$575 million (2016 est.)
Exports$155.5 million (2017 est.)
$139.9 million (2016 est.)
Exports - commoditiesreexports, hides and skins, coffee (in transit), scrap metal
Exports - partnersEthiopia 39%, Somalia 17.8%, Qatar 9.4%, Brazil 9.1%, Yemen 5.1% (2016)
Imports$1.172 billion (2017 est.)
$1.128 billion (2016 est.)
Imports - commoditiesfoods, beverages, transport equipment, chemicals, petroleum products, clothing
Imports - partnersUAE 25.8%, France 16.4%, China 10.4%, Saudi Arabia 8.4%, Ethiopia 7%, Yemen 4.8% (2016)
Debt - external$1.554 billion (31 December 2017 est.)
$1.519 billion (31 December 2016 est.)
Stock of direct foreign investment - at home$1.784 billion (31 December 2017 est.)
$1.483 billion (31 December 2016 est.)
Exchange ratesDjiboutian francs (DJF) per US dollar -
177.7 (2017 est.)
177.72 (2016 est.)
177.72 (2015 est.)
177.72 (2014 est.)
177.72 (2013 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on January 20, 2018

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