Natural resources and energy
Djibouti has almost no mineral resources, but
some foreign companies have found gold to be mined. The
country is located in a volcanically active area, and
attempts are made to extract geothermal heat. Almost all
energy needs are covered by imported oil.
With the help of foreign investments, attempts are
being made to extract electricity from geothermal heat
on Lake Assal. A profitable electricity generation there
could reduce Djibouti's high cost of electricity
imports. Djibouti imports electricity from Ethiopia,
whose electricity grid was connected to Djibouti in
Major exports by Djibouti with a full list of the top products exported by the country. Includes trade value in U.S. dollars and the percentage for each product category.
In November 2017, Djibouti signed an agreement with a
Chinese company to build a natural gas project. A
pipeline will be built from gas sources in southeastern
Ethiopia to the Chinese-funded Damerjog port in
Djibouti. The project also includes the construction of
a liquefied natural gas plant and a terminal for the
shipment of liquefied natural gas.
Abbreviationfinder: A popular acronym site in the world covering abbreviation for each country. For example, DJ stands for Djibouti. Visit itypeusa for more information about Djibouti.
FACTS - ENERGY AND ENVIRONMENT
Energy use per person
179 kilo oil equivalents (2007)
Carbon dioxide emissions in total
722,000 tonnes (2014)
Carbon dioxide emissions per inhabitant
0.8 tonnes (2014)
The share of energy from renewable sources
15.4 percent (2015)
The first part of the free trade zone finished
The first phase of the construction of Africa's largest free trade zone is
complete. When the entire zone is completed, in ten years, three major ports
will be linked to the railway line between Djibouti and the coastal Ethiopian
capital Addis Ababa. Djibouti hopes the zone will make the country a hub for
international trade. The area is also expected to create many new jobs for the
Djibouti and attract investors to the country as foreign companies place their
production there. The free trade zone is estimated to cost about $ 3.5 billion
and is financed with loans from China. The International Monetary Fund (IMF) has
warned that Djibouti's central government debt will rise rapidly, from 50
percent of GDP in 2014 to 85 percent of GDP in 2017.
Free Trade Agreement in Africa
Djibouti is one of 44 countries to sign a Free Trade Agreement at the African
Union Summit in Rwanda. The agreement must be ratified at the national level
before the AFCFTA free trade area can become a reality, but it is seen as a
historically important step towards increased trade exchange within Africa.
The ruling party wins elections
President Guelleh's Alliance UMP wins 57 of the 65 seats at stake in the
parliamentary elections. To the UMP's success, several of the major opposition
parties are boycotting the election (see Political system). The two opposition
parties that run for office win seven seats together. 15 of the mandate are
occupied by female delegates.