Economy (Djibouti)
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     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 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 and a high population growth rate (including
         immigrants and refugees).
     GDP:
         exchange rate conversion - $340 million, $1,000 per capita; real growth rate
         -1.0% (1989 est.)
     Inflation rate (consumer prices):
         3.7% (1989)
     Unemployment rate:
         over 30% (1989)
     Budget:
         revenues $131 million; expenditures $154 million, including capital
         expenditures of $25 million (1990 est.)
     Exports:
         $190 million (f.o.b., 1990 est.)
       commodities:
         hides and skins, coffee (in transit)
       partners:
         Middle East 50%, Africa 43%, Western Europe 7%
     Imports:
         $311 million (f.o.b., 1990 est.)
       commodities:
         foods, beverages, transport equipment, chemicals, petroleum products
       partners:
         EC 36%, Africa 21%, Asia 12%, US 2%
     External debt:
         $355 million (December 1990)
     Industrial production:
         growth rate 0.1% (1989); manufacturing accounts for 4% of GDP
     Electricity:
         115,000 kW capacity; 200 million kWh produced, 580 kWh per capita (1991)
     Industries:
         limited to a few small-scale enterprises, such as dairy products and
         mineral-water bottling
     Agriculture:
         accounts for only 5% 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:
         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:
         Djiboutian franc (plural - francs); 1 Djiboutian franc (DF) = 100 centimes
     Exchange rates:
         Djiboutian francs (DF) per US$1 - 177.721 (fixed rate since 1973)
     Fiscal year:
         calendar year