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Somalia GDP and Economic Data

Includes Somalia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

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.

 
 
Source
Central bank

Central Bank of Somalia

Source
International Reserves

N/A

Source
Gross Domestic Product - GDP

USD 7.5 billion (2018, estimate)

Source
GDP (Purchasing Power Parity)

Intl$ 21.2 billion (2018, estimate)

Source
Real GDP growth
2014 2015 2016* 2017* 2018*
0.4% 3.8% 4.9% 2.3% 3.1%

*Estimate

Source
GDP per capita - current prices

N/A

Source
GDP per capita - PPP

N/A

Source
GDP (PPP) - share of world total

0.02%

IMF - World Economic Outlook, October 2019

Source
 
 
Source
GDP - composition by sector
  • agriculture: 60.2% 
  • industry: 7.4% 
  • services: 32.5%

(2013 estimate)

Source
Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Source
Inflation

N/A

Source
Unemployment rate
N/A
Source
Household saving rates

N/A

 

Source
Public debt (General government gross debt as a % of GDP)
N/A
Source
Public deficit (General government net lending/borrowing as a % of GDP)

N/A

Source
Government bond ratings

Standard & Poor's: N/A

Moody's: N/A

Standard & Poor's / Moody's (Updated January 2017)

Source
Market value of publicly traded shares
N/A
Source
Largest companies

N/A

Source
 
 
Source
Current account balance

USD -0.4 billion (2018 estimate)

Source
Current account balance by percentage of GDP

-8.3 % (2018 estimate)

Source
Exports as percent of GDP (Exports of goods and services)

14.5% (2015)

Source
Shares in world total merchandising export

25.9% (2018)

Source
Shares in world total commercial services export

0.007% (2018)

Source
Total exports

USD 744.6 million (2018 estimate)

Source
Export commodities

Livestock, bananas, hides, fish, charcoal, scrap metal

Source
Total imports

USD 2.7 billion (2018 estimate)

Source
 
 
Source
Import commodities

Manufactures, petroleum products, foodstuffs, construction materials, qat

Source
Exports - major partners

Oman 31.7%, Saudi Arabia 18.7%, UAE 16.3%, Nigeria 5.1%, Yemen 4.8%, Pakistan 4%(2017)

Source
Imports - major partners

China 17.6%, India 17.2%, Ethiopia 10.5%, Oman 10.3%, Kenya 6.9%, Turkey 5.3%, Malaysia 4.1% (2017)

Source
FDI inflows
2016 2017 2018
USD 334 million USD 384 million USD 409 million
Source
FDI outflows
N/A
Source
Value of cross-border M&A, by country of purchaser
N/A
Source
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

Source
Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

Source
Best countries for doing business

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 countries

Source
Global competitiveness ranking

N/A

Source
Index of Economic Freedom

N/A

Source
 
 
Source
Time zone

UTC+3

Source
Total area

637,657 sq km

Source
Capital

Mogadishu

Source
Currency

Somali shillings (SOS)

Source
Government type

Federal parliamentary republic

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Languages

Somali (official), Arabic (official, according to the Transitional Federal Charter), Italian, English

Source
Religions

Sunni Muslim (Islam) (official, according to the 2012 Transitional Federal Charter)

Source
Total population
N/A
Source
 
 
Source
Urban population as % of total population
1960 1980 2000 2018
17.3% 26.8% 33.2% 45.0%
Source
Population median age

18.2 years (2018 estimate)

Source
Population growth rate

2.08% (2018 estimate)

Source
Life expectancy

53.2 years (2018 estimate)

Source
Literacy

N/A

Source
% of population living on less than $3.10 a day

N/A

Source
Inequality of wealth distribution (Gini index)

N/A

Source
Freedom House rating

Political Rights: 7
Civil Liberties: 7 (2019)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 0% Mobile: 48.8% (2017)

(fixed-telephone subscribers and mobile-cellular subscribers)

Source
Internet users as % of total population

2 % (2017)

Source
Mercer Cost of living index

N/A

Source
CO2 emissions

0.05 metric tons per capita (2014)

Source
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