Djibouti Economy - 2024

Economic overview

food import-dependent Horn of Africa economy driven by various national military bases and port-based trade; fairly resilient from COVID-19 disruptions; major re-exporter; increasing Ethiopian and Chinese trade relations; investing in infrastructure

Real GDP (purchasing power parity)

$5.432 billion (2021 est.)
$5.182 billion (2020 est.)
$5.121 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

4.81% (2021 est.)
1.2% (2020 est.)
5.55% (2019 est.)

Real GDP per capita

$4,900 (2021 est.)
$4,800 (2020 est.)
$4,800 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$3.323 billion (2019 est.)

Inflation rate (consumer prices)

1.78% (2020 est.)
3.32% (2019 est.)
0.15% (2018 est.)

GDP - composition, by sector of origin

agriculture: 2.4% (2017 est.)

industry: 17.3% (2017 est.)

services: 80.2% (2017 est.)

GDP - composition, by end use

household consumption: 56.5% (2017 est.)

government consumption: 29.2% (2017 est.)

investment in fixed capital: 41.8% (2017 est.)

investment in inventories: 0.3% (2017 est.)

exports of goods and services: 38.6% (2017 est.)

imports of goods and services: -66.4% (2017 est.)

Agricultural products

vegetables, milk, beef, camel milk, lemons, limes, goat meat, mutton, beans, tomatoes

Industries

construction, agricultural processing, shipping

Industrial production growth rate

-4.43% (2020 est.)

Labor force

240,500 (2021 est.)

Unemployment rate

28.39% (2021 est.)
28.39% (2020 est.)
26.36% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 79.9% (2021 est.)

male: 78.6%

female: 82.2%

Population below poverty line

21.1% (2017 est.)

Gini Index coefficient - distribution of family income

41.6 (2017 est.)

Household income or consumption by percentage share

lowest 10%: 2.4%

highest 10%: 30.9% (2002)

Remittances

2.01% of GDP (2020 est.)
2.57% of GDP (2019 est.)
2.05% of GDP (2018 est.)

Budget

revenues: $725 million (2019 est.)

expenditures: $754 million (2019 est.)

Budget surplus (+) or deficit (-)

-9% (of GDP) (2017 est.)

Public debt

31.8% of GDP (2017 est.)
33.7% of GDP (2016 est.)

Taxes and other revenues

35.3% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$225.106 million (2021 est.)
$366.358 million (2020 est.)
$563.976 million (2019 est.)

Exports

$5.16 billion (2021 est.) note: data are in current year dollars
$3.695 billion (2020 est.) note: data are in current year dollars
$5.15 billion (2019 est.)

Exports - partners

Saudi Arabia 42%, India 15%, China 14%, Egypt 5%, South Korea 5% (2019)

Exports - commodities

palm oil, chlorides, sheep and goats, kidney beans, industrial fatty acids/oils, coffee (2021)

Imports

$5.483 billion (2021 est.) note: data are in current year dollars
$3.425 billion (2020 est.) note: data are in current year dollars
$4.764 billion (2019 est.)

Imports - partners

China 43%, United Arab Emirates 15%, India 7%, Turkey 5% (2019)

Imports - commodities

refined petroleum, fertilizers, iron sheeting, cars, palm oil (2019)

Reserves of foreign exchange and gold

$588.418 million (31 December 2021 est.)
$686.339 million (31 December 2020 est.)
$501.858 million (31 December 2019 est.)

Debt - external

$1.954 billion (31 December 2017 est.)
$1.519 billion (31 December 2016 est.)

Exchange rates

Djiboutian francs (DJF) per US dollar -

Exchange rates:
177.721 (2021 est.)
177.721 (2020 est.)
177.721 (2019 est.)
177.721 (2018 est.)
177.721 (2017 est.)