Economy of Djibouti

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Economy of Djibouti
currency Djibout. Franc = 100 Centimes
1 USD = 178.014 Djibout. F.
inflation 0.7% (2017, estimated)
gross domestic product $ 2.029 billion (2017, estimated)
Economic growth 6.7% (2017, estimated)
GDP per capita $ 3,600 (2017, estimated)
GDP by sector Agriculture: 2.4%
Industry: 17.3%
Services: 80.2%
(2017, estimated)
GDP ( purchasing power parity ) $ 3.64 billion (2017, estimated)
Unemployment rate 40% (2017 estimate)
Employed
by sector		 Agriculture: 75%
Industry: 11%
Services: 14%
Share below
the poverty line 		23% (2015, estimated)
Foreign
debt		 $ 1.954 billion (December 31, 2017, estimated)
External contribution
export $ 139.9 million (2016, estimated)
Trading partner Ethiopia 38.8%, Somalia 17.1%,
Qatar 9.1%, Brazil 8.9%,
Yemen 4.9%, USA 4.6% (2017)
import $ 736.4 million (2017, estimated)
Trading partner UAE 25%, France 15.2%,
Saudi Arabia 11%, China 9.6%,
Ethiopia 6.8%, Yemen 4.6% (2017)

The still underdeveloped economy of Djibouti depends on a large community of expatriates, the port in Djibouti, the airport and the operation of the railway line from Addis-Ababa to Djibouti.

During the colonial period, the colonial power of France distinguished itself as an exploitative force in the former Afar and Issa territories . Both the population and the labor force were exploited and the sparse nature of the desert state was overexploited . During the 1991-1994 civil war , much of the government budget's development and welfare expenditure was spent on the military .

Agriculture and industry are poorly developed, partly because of the unfavorable climatic conditions, high production costs, the poor level of education of the workforce and the limited natural resources.

Djibouti now has very few mineral deposits and the dry soil is uneconomical: 89% of the land is wasteland or desert, 10% is pasture land and 1% is forest . Services and trade have the largest share in value creation.

Web links

Individual evidence

  1. ↑ CIA World Factbook : Country Profile Djibouti , December 3, 2019.
  2. ↑ Bloomberg: Currency Calculator, December 13, 2019.