Djibouti is advantageously situated right by the world’s busiest shipping lanes, governing access to the Red Sea and Indian Ocean. It serves as a prime refueling and transshipment center, and is the principal maritime port for imports to and exports from neighbouring Ethiopia.
Over the last several years, Djibouti has embraced stable economic growth as a result of achievements in macro-economic adjustment efforts. Economic adjustment measures such as downsizing the civil service, implementing a pension reform, and strengthening public expenditure institutions.
The Oil & Gas Industry in Djibouti
Djibouti has an installed electrical power generating capacity of 85 MW, which is generated from an oil-fired generating station in the capital. Djibouti’s main economic asset is its strategic location; it is a major transhipment port and bunkering facility. Good transportation infrastructure with the country and links to neighbouring African states earns Djibouti a significant inflow of capital.
The Engineering Industry in Djibouti
Djibouti’s engineering department is involved with all activities aimed to restore and to maintain in best condition the installations and port facilities, as well as boats, navigation aids, handling equipment and the assistance for technical ships. Engineering productivity has shown momentous growth over the years and has reached records due to the high availability of equipment.
The Mining Industry in Djibouti
Djibouti’s mining sector has produced small amounts of clays, granite, limestone, marble, salt, sand, gravel, and crushed and dimension stone for domestic construction developments. Other mineral existences include diatomite, geothermal fluids and mineral salts, gold, gypsum, perlite, petroleum, and pumice.
The Bank Industry in Djibouti
Amongst much more, the Central Bank of Djibouti is responsible for managing the currency of Djibouti, the country’s foreign exchange position and the national accounting. The official Djibouti currency is Djiboutian Franc.