Djibouti has recorded successes in the business sector which has gracely helped in the country’s growth and development. Just of recent, it has opened the Port of Ghoubet with the main aim of making it a key terminal for salt exportation, with a capacity of five million tonnes, to the world from Lake Assal, one of the lowest spots in the world. The exportation of salt will no doubt help to generate more revenue for the country which will enhance growth and development.
In addition, reports confirmed that the Port has been under construction for the last two years at a cost of 64 million dollars. It was officially inaugurated by the President of Djibouti, Ismail Omar Guelleh, on June 22, 2017. The port is located 40km south of the Gulf of Ghoubet and it is the second of its kind to be launched in the north of the country following the launch of Port Tadjourah on June 15, 2017, which is a facility dedicated to the export of potash.
Further more, reports confirmed that in 2015, Djibouti exported $72.6M and imported $3.7B. The top exports of Djibouti are Sheep and Goats ($16M), Wood Charcoal ($12.8M), Coffee ($11.8M), Other Animals ($4.57M) and Refined Petroleum ($4.18M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Wheat ($126M), Delivery Trucks ($123M), Other Vegetables ($117M), Nitrogenous Fertilizers ($107M) and Other Steel Bars ($95.1M).
Also, the top export destinations of Djibouti are Saudi Arabia ($30.1M), Yemen ($7.37M), Egypt ($6.43M), Spain ($4.35M) and Finland ($2.58M). The top import origins are China ($1.98B), Ethiopia ($213M), India ($203M), Saudi Arabia ($135M) and the United States ($135M).
As a matter of fact, Djibouti which is strategically situated at the mouth of the Red Sea, is undertaking a 15 billion dollar infrastructure development programme to make itself a multi-modal logistics hub for the Horn of Africa. The exportation trends of the country has confirmed it to be a strong business hub in Africa.
Similarly, it has been confirmed that apart from the four ports joining the market in 2017, Djibouti is also aiming to add two more ports in 2018 and 2019 with a construction cost of three billion dollars. Therefore, at the end of 2019, Djibouti is expected to have reached a suitable peak of exportation business which will no doubt encourage more business transactions and enhance economic growth in the country.
