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EconomyEconomy - overview
The 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. Two-thirds 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. 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. Gdp (purchasing power parity) World Ranking: 184
$2.26 billion (2011 est.)
$2.163 billion (2010 est.) $2.09 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$1.239 billion (2011 est.)
Gdp - real growth rate World Ranking: 81
4.5% (2011 est.)
3.5% (2010 est.) 5% (2009 est.) Gdp - per capita (ppp) World Ranking: 176
$2,700 (2011 est.)
$2,600 (2010 est.) $2,600 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 3%
Industry 17% Services 79.9% (2011 est.) Labor force World Ranking: 160
351,700 (2007)
Labor force - by occupation
Agriculture NA%
Industry NA% Services NA% Unemployment rate World Ranking: 194
59% (2007 est.)
Note Data are for urban areas, 83% in rural areas Population below poverty line
42% (2007 est.)
Household income or consumption by percentage share
Lowest 10% 2.4%
Highest 10% 30.9% (2002) Budget
Revenues $448.5 million
Expenditures $473.8 million (2011 est.) Taxes and other revenues World Ranking: 62
36.2% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 75
-2% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 131
5.1% (2011 est.)
4% (2010 est.) Commercial bank prime lending rate World Ranking: 92
10.61% (31 December 2011 est.)
10.3% (31 December 2010 est.) Stock of narrow money World Ranking: 155
$692.6 million (31 December 2011 est.) $716.2 million (31 December 2010 est.) Stock of broad money World Ranking: 168
$1.008 billion (31 December 2011 est.) $1.056 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 172
$426.3 million (31 December 2011 est.) $406.4 million (31 December 2010 est.) Agriculture - products
Fruits, vegetables; goats, sheep, camels, animal hides Industries
Construction, agricultural processing Electricity - production World Ranking: 167
280 million kWh (2008 est.)
Electricity - consumption World Ranking: 172
260.4 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 166
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 148
12,000 bbl/day (2010 est.)
Oil - exports World Ranking: 129
19.18 bbl/day (2009 est.)
Oil - imports World Ranking: 139
11,230 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 122
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 171
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 169
0 cu m (2009 est.)
Natural gas - exports World Ranking: 87
0 cu m (2009 est.)
Natural gas - imports World Ranking: 181
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 168
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 57
$33.8 million (2011 est.)
$50.5 million (2010 est.) Exports World Ranking: 193
$96.3 million (2011 est.)
$85.1 million (2010 est.) Exports - commodities
Reexports, hides and skins, coffee (in transit) Exports - partners
Somalia 77.2%, Egypt 8.6% (2011) Imports World Ranking: 190
$413.7 million (2011 est.)
$363.8 million (2010 est.) Imports - commodities
Foods, beverages, transport equipment, chemicals, petroleum products Imports - partners
Saudi Arabia 18.1%, China 16.6%, India 14%, Indonesia 6.1%, Malaysia 5.3%, US 4.3%, Pakistan 4.2% (2011) Debt - external World Ranking: 158
$812.5 million (31 December 2011 est.) $754 millionStock of direct foreign investment - at home World Ranking: 97
$331.6 million
$331.6 million Exchange rates
Djiboutian francs (DJF) per US dollar - 177.72 (2011 est.)177.72 (2010 est.) Fiscal year
Calendar year
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Djibouti (Djibouti City):
 
GPS points from Djibouti (Djibouti City)
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The French Territory of the Afars and the Issas became Djibouti in 1977. Hassan Gouled APTIDON installed an authoritarian one-party state and proceeded to serve as president until 1999. Unrest among the Afars minority during the 1990s led to a civil war that ended in 2001 following the conclusion of a peace accord between Afar rebels and the Issa-dominated government. In 1999, Djibouti's first multi-party presidential elections resulted in the election of Ismail Omar GUELLEH; he was re-elected to a second term in 2005. Djibouti occupies a strategic geographic location at the mouth of the Red Sea and serves as an important transshipment location for goods entering and leaving the east African highlands. The present leadership favors close ties to France, which maintains a significant military presence in the country, but also has strong ties with the US. Djibouti hosts the only US military base in sub-Saharan Africa.