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Djibouti Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Djibouti Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Djibouti'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 40% - 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. In 2017, Djibouti opened two of the largest projects in its history, the Doraleh Port and Djibouti-Addis Ababa Railway, funded by China as part of the "Belt and Road Initiative," which will increase the country’s ability to capitalize on its strategic location.

GDP (purchasing power parity):
$3.64 billion (2017 est.)
$3.411 billion (2016 est.)
$3.203 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 183
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.029 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.7% (2017 est.)
6.5% (2016 est.)
6.5% (2015 est.)
country comparison to the world: 26
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,600 (2017 est.)
$3,400 (2016 est.)
$3,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 185
[see also: GDP - per capita country ranks ]

Gross national saving:
22.3% of GDP (2017 est.)
38.1% of GDP (2016 est.)
19% of GDP (2015 est.)
country comparison to the world: 81
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 56.5% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 29.2% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 41.8% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.3% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 38.6% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -66.4% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.4% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 17.3% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 80.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
fruits, vegetables; goats, sheep, camels, animal hides

Industries:
construction, agricultural processing, shipping

Industrial production growth rate:
2.7% (2017 est.)
country comparison to the world: 112
[see also: Industrial production growth rate country ranks ]

Labor force:
294,600 (2012)
country comparison to the world: 163
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA
[see also: Labor force - by occupation - industry country ranks ]
services: NA
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
40% (2017 est.)
60% (2014 est.)
country comparison to the world: 213
[see also: Unemployment rate country ranks ]

Population below poverty line:
23% (2015 est.)
note: percent of population below $1.25 per day at purchasing power parity
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.9% (2002)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
40.9 (2002)
country comparison to the world: 60
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 717 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 899.2 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
35.3% (of GDP) (2017 est.)
country comparison to the world: 62
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-9% (of GDP) (2017 est.)
country comparison to the world: 205
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
31.8% of GDP (2017 est.)
33.7% of GDP (2016 est.)
country comparison to the world: 161
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.7% (2017 est.)
2.7% (2016 est.)
country comparison to the world: 36
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
11.3% (31 December 2017 est.)
11.45% (31 December 2016 est.)
country comparison to the world: 72
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.475 billion (31 December 2017 est.)
$1.361 billion (31 December 2016 est.)
country comparison to the world: 143
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.475 billion (31 December 2017 est.)
$1.361 billion (31 December 2016 est.)
country comparison to the world: 151
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$673.1 million (31 December 2017 est.)
$659.4 million (31 December 2016 est.)
country comparison to the world: 172
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$280 million (2017 est.)
-$178 million (2016 est.)
country comparison to the world: 102
[see also: Current account balance country ranks ]

Exports:
$161.4 million (2017 est.)
$139.9 million (2016 est.)
country comparison to the world: 192
[see also: Exports country ranks ]

Exports - partners:
Ethiopia 38.8%, Somalia 17.1%, Qatar 9.1%, Brazil 8.9%, Yemen 4.9%, US 4.6% (2017)

Exports - commodities:
reexports, hides and skins, scrap metal

Imports:
$726.4 million (2017 est.)
$705.2 million (2016 est.)
country comparison to the world: 191
[see also: Imports country ranks ]

Imports - commodities:
foods, beverages, transport equipment, chemicals, petroleum products, clothing

Imports - partners:
UAE 25%, France 15.2%, Saudi Arabia 11%, China 9.6%, Ethiopia 6.8%, Yemen 4.6% (2017)

Reserves of foreign exchange and gold:
$547.7 million (31 December 2017 est.)
$398.5 million (31 December 2016 est.)
country comparison to the world: 148
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.954 billion (31 December 2017 est.)
$1.519 billion (31 December 2016 est.)
country comparison to the world: 153
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.47 billion (31 December 2017 est.)
$1.483 billion (31 December 2016 est.)
country comparison to the world: 121
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
Djiboutian 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.)


NOTE: 1) The information regarding Djibouti on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Djibouti Economy 2019 information contained here. All suggestions for corrections of any errors about Djibouti Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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