Djibouti Tenders

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Capital Djibouti
ISO 3166 Code DJ
Population 900,000
Area, Sq KM 22,000
Currency Djiboutian franc
Official Language French, Arabic
GDP, Billion USD 1,239
GDP Growth Rate, % 5.5
Inflation, Avg CP, % Chng 10.61
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 176.90
International dial code 253
Time Zone GMT+03:00
Internet TLD .dj

Djibouti is officially known as Republic of Djibouti and is located in the Horn of Africa. It shares its border with Eritrea in the north, Somalia in the southeast; Ethiopia in both south and west and Gulf of Aden along with the Red Sea on the east. The total area covered by the country is estimated to be 23,200 square kilometers. Djibouti is known to be a multi ethnic nation that has a population of more than 810,000 inhabitants. The two largest ethnic groups are The Somali and Afar. Both these groups speak Afroasiatic languages which also serve as recognized national languages. The two official languages of the country are namely Arabic and French. 94 percent of the population adheres to Islam. Islam has been predominant in Djibouti for more than 1,000 years. The country’s strategical location near the world's busiest shipping lanes helps in gaining controlling access to the Indian Ocean as well as the Red Sea. It serves as a transshipment center and key refueling. It is also consider the principal maritime port for the exports and imports of goods from Ethiopia. Being a burgeoning commercial hub, Djibouti is also the site of several foreign military bases. The headquarters of the Intergovernmental Authority on Development (IGAD) regional body is also located in Djibouti city. In the year 1977, the people of Djibouti voted for independence which led to the establishment of the Republic of Djibouti. The economy of Djibouti is mostly comprises of the service sector. The commercial activities of the country are mostly concerned regarding the free trade policies of the country due to its strategic location as a Red Sea transit point. Most of the food items require importation except for the fruits and vegetables. They are the principal production crops due to limited rainfall. As of 2013, the GDP of Djibouti was estimated across 2.505 billion dollars with a growth rate of 5% per annum. The service sector solely comprises of 17.3 percent of industry, 79.7 percent of the GDP and 3 percent of agriculture. A number of development projects have been launched by the Djibouti government to highlight the commercial potential of the country and in order to improve the environment for foreign direct investment. As of March 2011, the country has been given 177th rank in the investment destination in the entire world. The currency of Djibouti is Djiboutian Franc and is issued by the country’s monetary authority, Central Bank of Djibouti.

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