Somalia Economic Statistics and Indicators

21, May 2018, EDT. Welcome to the Somalia economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Somalia › Change country
National or Regional Currency: Somali Shilling, SOS
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 10,428,043 ; note: this estimate was derived from an official census taken in 1975 by the Somali Government; population counting in Somalia is complicated by the large number of nomads and by refugee movements in response to famine and clan warfare (July 2014 est.)
Area: total: 637,657 sq km ; land: 627,337 sq km ; water: 10,320 sq km
Natural Resources: uranium and largely unexploited reserves of iron ore, tin, gypsum, bauxite, copper, salt, natural gas, likely oil reserves
Capital: name: Mogadishu ; geographic coordinates: 2 04 N, 45 20 E ; time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)

Despite the lack of effective national governance, Somalia maintains an informal economy largely based on livestock, remittance/money transfer companies, and telecommunications. Agriculture is the most important sector with livestock normally accounting for about 40% of GDP and more than 50% of export earnings. Nomads and semi-pastoralists, who are dependent upon livestock for their livelihood, make up a large portion of the population. Livestock, hides, fish, charcoal, and bananas are Somalia's principal exports, while sugar, sorghum, corn, qat, and machined goods are the principal imports. Somalia's small industrial sector, based on the processing of agricultural products, has largely been looted and the machinery sold as scrap metal. Telecommunication firms provide wireless services in most major cities and offer the lowest international call rates on the continent. Mogadishu's main market offers a variety of goods from food to electronic gadgets. Hotels continue to operate and are supported with private-security militias. Somalia's government lacks the ability to collect domestic revenue, and arrears to the IMF have continued to grow. Somalia's capital city - Mogadishu - has witnessed the development of the city's first gas stations, supermarkets, and flights between Europe (Istanbul-Mogadishu) since the collapse of central authority in 1991. This economic growth has yet to expand outside of Mogadishu, and within the city, security concerns dominate business. In the absence of a formal banking sector, money transfer/remittance services have sprouted throughout the country, handling up to $1.6 billion in remittances annually, although international concerns over the money transfers into Somalia currently threatens these services.
More on the Somalia Economy
More on the Somalia Export, Import and Trade

Economic Indicators for Somalia 2015

Not Available
* Source: IMF
Aggregate Indicators for Somalia
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Somalia
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Somalia
  Natural Resources, Agricultural Products, Land Use and Water Use for Somalia
  Nationality, Ethnic Groups, Languages and Religions for Somalia
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Somalia
  Age Structure, Median Age, Gender and Urbanization for Somalia
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Somalia
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Somalia
  HIV, AIDS and Other Major Infectious Disease Rates for Somalia
  Literacy Rate, Educational Expenditure and School Life Expectancy for Somalia
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Somalia
  Industries and Industrial Growth Production Rate for Somalia
  Labor Force by Occupation for Somalia
  Poverty Line, Gini Index, Household Income and Consumption for Somalia
  National Budget and Public Debt for Somalia
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Somalia
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Somalia
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Somalia
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Somalia
  Foreign Exchange Reserves and Gold Reserves for Somalia
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Somalia
  Exchange Rate Statistics for Somalia
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Somalia
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Somalia
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Somalia
  Television and Radio Statistics (TV Stats, Radio Stats) for Somalia
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Somalia
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Somalia
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Somalia
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Somalia
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Somalia
* Source: CIA
Internet Indicators for Somalia
Indicators
  Number of Internet Users for Somalia
  Internet Penetration Rate for Somalia
  Number of Facebook Accounts for Somalia
  Facebook Penetration Rate for Somalia
* Source: IWS
Economic Freedom Indicators for Somalia
Indicators
  Economic Freedom World Rank for Somalia
  Government Spending for Somalia
  Monetary Freedom for Somalia
  Investment Freedom for Somalia
  Financial Freedom for Somalia
  Property Rights for Somalia
  Economic Freedom Regional Ranking for Somalia
  Freedom from Corruption for Somalia
  Labor Freedom for Somalia
  Tariff Rate for Somalia
  Income Tax Rate for Somalia
  Corporate Tax Rate for Somalia
  Tax Burden % of GDP for Somalia
  Government Expenditure % of GDP for Somalia
  Business Freedom for Somalia
  Trade Freedom for Somalia
  Fiscal Freedom for Somalia
  2016 Score for Somalia
* Source: HFO