Source
Central bank

Central Bank of Somalia

International Reserves

N/A

Gross Domestic Product - GDP

USD 7.5 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 21.2 billion (2018, estimate)

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

*Estimate

GDP per capita - current prices

N/A

GDP per capita - PPP

N/A

GDP (PPP) - share of world total

0.02%

IMF - World Economic Outlook, October 2019

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

(2013 estimate)

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

N/A

 

Inflation

N/A

Unemployment rate
N/A
Household saving rates

N/A

 

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

N/A

Government bond ratings

Standard & Poor's: N/A

Moody's: N/A

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

Market value of publicly traded shares
N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -0.4 billion (2018 estimate)

Current account balance by percentage of GDP

-8.3 % (2018 estimate)

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

14.5% (2015)

Shares in world total merchandising export

25.9% (2018)

Shares in world total commercial services export

0.007% (2018)

Total exports

USD 744.6 million (2018 estimate)

Export commodities

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

Total imports

USD 2.7 billion (2018 estimate)

 
 
Source
Import commodities

Manufactures, petroleum products, foodstuffs, construction materials, qat

Exports - major partners

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

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)

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

N/A

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

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

N/A

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

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

Global competitiveness ranking

N/A

Index of Economic Freedom

N/A

 
 
Source
Time zone

UTC+3

Total area

637,657 sq km

Capital

Mogadishu

Currency

Somali shillings (SOS)

Government type

Federal parliamentary republic

Languages

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

Religions

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

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

18.2 years (2018 estimate)

Population growth rate

2.08% (2018 estimate)

Life expectancy

53.2 years (2018 estimate)

Literacy

N/A

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

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)

Internet users as % of total population

2 % (2017)

Mercer Cost of living index

N/A

CO2 emissions

0.05 metric tons per capita (2014)