lyrics/music: Aden ELMI/Abdi ROBLEH
note: adopted 1977
Economy ::Djibouti
Economy - 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):
$2.099 billion (2010 est.) country comparison to the world: 183 $2.003 billion (2009 est.)
$1.908 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$1.139 billion (2010 est.)
GDP - real growth rate:
4.8% (2010 est.) country comparison to the world: 63 5% (2009 est.)
5.8% (2008 est.)
GDP - per capita (PPP):
$2,800 (2010 est.) country comparison to the world: 170 $2,800 (2009 est.)
$2,700 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 3.2%
industry: 14.9%
services: 81.9% (2006)
Labor force:
351,700 (2007) country comparison to the world: 159
Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%
Unemployment rate:
59% (2007 est.) country comparison to the world: 194 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)
Inflation rate (consumer prices):
6% (2009 est.) 5% country comparison to the world: 161
Commercial bank prime lending rate:
NA% (31 December 2009 est.) country comparison to the world: 78 11.56% (31 December 2008 est.)
Stock of narrow money:
$577.8 million (31 December 2009) country comparison to the world: 156 $462.7 million (31 December 2008)
Stock of broad money:
$940.8 million (31 December 2009 est.) country comparison to the world: 165 $800.8 million (31 December 2008 est.)
Stock of domestic credit:
$339 million (31 December 2009) country comparison to the world: 168 $269.9 million (31 December 2008)
Agriculture - products:
fruits, vegetables; goats, sheep, camels, animal hides
Industries:
construction, agricultural processing
Electricity - production:
280 million kWh (2007 est.) country comparison to the world: 169
Electricity - consumption:
260.4 million kWh (2007 est.) country comparison to the world: 170
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
0 bbl/day (2009 est.) country comparison to the world: 182
Oil - consumption:
12,000 bbl/day (2009 est.) country comparison to the world: 144
Oil - exports:
19 bbl/day (2007 est.) country comparison to the world: 137
Oil - imports:
8,476 bbl/day (2007 est.) country comparison to the world: 142
Oil - proved reserves:
0 bbl (1 January 2010 est.) country comparison to the world: 187
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 179
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 191
Natural gas - exports:
0 cu m (2008 est.) country comparison to the world: 66
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 90
Natural gas - proved reserves:
0 cu m (1 January 2010 est.) country comparison to the world: 187
Current account balance:
-$352 million (2009 est.) country comparison to the world: 105 -$212 million (2007 est.)
Exports:
$100 million (2009); $340 million country comparison to the world: 192
Exports - commodities:
reexports, hides and skins, coffee (in transit)
Exports - partners:
Somalia 76.68%, France 4.89%, UAE 4.22% (2009)
Imports:
$644 million (2009 est.) country comparison to the world: 183 $1.555 billion (2006)
Imports - commodities:
foods, beverages, transport equipment, chemicals, petroleum products
Imports - partners:
Saudi Arabia 16.26%, India 16.03%, China 14.26%, US 9.57%, Malaysia 6.63%, Japan 4.74% (2009)
Debt - external:
$428 million (2006) country comparison to the world: 165
Exchange rates:
Djiboutian francs (DJF) per US dollar - 177.71 (2007), 174.75 (2006), 177.72 (2005), 177.72 (2004), 177.72 (2003)
Communications ::Djibouti
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