
Trade Finance In Wartime
The huge drop-off in trade involving Russia and Ukraine has hit trade finance hard.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Somalia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Somalia best banks and safest banks are also available.
Egypt’s Banque Misr and Turkey’s Ziraat Katilim are the first international banks to begin operations in Somalia.
2014 | 2015 | 2016* | 2017* | 2018* |
0.4% | 3.8% | 4.9% | 2.3% | 3.1% |
*Estimate
0.02%
IMF - World Economic Outlook, October 2019
(2013 estimate)
N/A
Standard & Poor's: N/A
Moody's: N/A
Standard & Poor's / Moody's (Updated January 2017)
-8.3 % (2018 estimate)
14.5% (2015)
25.9% (2018)
0.007% (2018)
Livestock, bananas, hides, fish, charcoal, scrap metal
Manufactures, petroleum products, foodstuffs, construction materials, qat
Oman 31.7%, Saudi Arabia 18.7%, UAE 16.3%, Nigeria 5.1%, Yemen 4.8%, Pakistan 4%(2017)
China 17.6%, India 17.2%, Ethiopia 10.5%, Oman 10.3%, Kenya 6.9%, Turkey 5.3%, Malaysia 4.1% (2017)
2016 | 2017 | 2018 |
USD 334 million | USD 384 million | USD 409 million |
N/A
(for a monthly update on M&A; click here )
N/A
(for a monthly update on M&A; click here )
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 190 out of 190 countries (2019)
Subcategories:
Starting a Business: 188 out of 190 countries
Dealing with Construction Permits: 186 out of 190 countries
Getting Electricity: 187 out of 190 countries
Registering Property: 153 out of 190 countries
Getting Credit: 186 out of 190 countries
Protecting Minority Investors: 190 out of 190 countries
Paying Taxes: 190 out of 190 countries
Trading across Borders: 166 out of 190 countries
Enforcing Contracts: 116 out of 190 countries
Resolving Insolvency: 168 out of 190 countriesSomali (official), Arabic (official, according to the Transitional Federal Charter), Italian, English
Sunni Muslim (Islam) (official, according to the 2012 Transitional Federal Charter)
1960 | 1980 | 2000 | 2018 |
17.3% | 26.8% | 33.2% | 45.0% |
Political Rights: 7
Civil Liberties: 7 (2019)
(1 represents the most free, 7 the least free rating)
Fixed: 0% Mobile: 48.8% (2017)
(fixed-telephone subscribers and mobile-cellular subscribers)