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. 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 (an important supplement to GDP) to help support its balance of payments and to finance development projects. An unemployment rate of over 30% continues to be a major problem. Per capita consumption dropped an estimated 35% over the last five years because of recession, civil war, and a high population growth rate (including immigrants and refugees).

National product: GDP - purchasing power equivalent - $500 million (1993 est.)

National product real growth rate: -1% (1992 est.)

National product per capita: $1,200 (1993 est.)

Inflation rate (consumer prices): 6% (1992)

Unemployment rate: over 30% (1989)

Budget:
revenues: $170 million
expenditures: $203 million, including capital expenditures of $70 million (1991 est.)

Exports: $158 million (f.o.b., 1992 est.)
commodities: hides and skins, coffee (in transit)
partners: Africa 47%, Middle East 40%, Western Europe 12%

Imports: $334 million (f.o.b., 1992 est.)
commodities: foods, beverages, transport equipment, chemicals, petroleum products
partners: Western Europe 48%, Asia 25%, Africa 8%

External debt: $355 million (December 1990)

Industrial production: growth rate 3% (1991 est.); manufacturing accounts for 12% of GDP

Electricity:
capacity: 115,000 kW
production: 200 million kWh
consumption per capita: 580 kWh (1991)

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

Agriculture: accounts for only 2% of GDP; scanty rainfall limits crop production to mostly fruit and vegetables; half of population pastoral nomads herding goats, sheep, and camels; imports bulk of food needs

Economic aid:
recipient: US commitments, including Ex-Im (FY78-89), $39 million; Western (non-US) countries, including ODA and OOF bilateral commitments (1970-89), $1.1 billion; OPEC bilateral aid (1979-89), $149 million; Communist countries (1970-89), $35 million

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 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Djibouti Economy 1995 information contained here. All suggestions for corrections of any errors about Djibouti Economy 1995 should be addressed to the CIA.