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Somalia

Jamhuuriyadda Federaalka Soomaaliya (Somali)/ Jumhuriyat as Sumal al Fidiraliyah (Arabic)

Last updated: 2026-03-28 (today)

Exports

note

note: GDP expenditure basis - exports of goods and services in current dollars

Exports 2022

$1.804 billion (2022 est.)

Exports 2023

$2.164 billion (2023 est.)

Exports 2024

$2.424 billion (2024 est.)

Imports

note

note: GDP expenditure basis - imports of goods and services in current dollars

Imports 2022

$7.456 billion (2022 est.)

Imports 2023

$8.002 billion (2023 est.)

Imports 2024

$9.002 billion (2024 est.)

Industries

light industries, including sugar refining, textiles, wireless communication

Labor force

3.439 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2014

93% of GDP (2014 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

18.3% of GDP (2021 est.)

Remittances 2022

17% of GDP (2022 est.)

Remittances 2023

15.8% of GDP (2023 est.)

Exchange rates

Currency

Somali shillings (SOS) per US dollar -

Exchange rates 2013

19,283.8 (2013 est.)

Exchange rates 2014

20,230.929 (2014 est.)

Exchange rates 2015

22,254.236 (2015 est.)

Exchange rates 2016

23,061.784 (2016 est.)

Exchange rates 2017

23,097.987 (2017 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$2.563 billion (2023 est.)

Economic overview

low-income African Horn economy; 30 years of war and instability crippled economic potential; high remittances for basic survival; new fiscal federalism approach; cleared some unsustainable debt; environmentally fragile; digitally driven urbanization efforts

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

19.1% (2022 est.)

Unemployment rate 2023

19% (2023 est.)

Unemployment rate 2024

18.9% (2024 est.)

Exports - partners

UAE 35%, Saudi Arabia 27%, Oman 18%, Djibouti 8%, India 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

UAE 29%, China 19%, India 15%, Turkey 8%, Oman 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$1,400 (2022 est.)

Real GDP per capita 2023

$1,400 (2023 est.)

Real GDP per capita 2024

$1,400 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

2.7% (2022 est.)

Real GDP growth rate 2023

4.2% (2023 est.)

Real GDP growth rate 2024

4% (2024 est.)

Agricultural products

camel milk, milk, goat milk, sheep milk, sugarcane, fruits, sorghum, cassava, vegetables, maize (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

sheep and goats, gold, postage stamps/documents, other animals, cattle (2023)

note: top five export commodities based on value in dollars

Imports - commodities

raw sugar, tobacco, broadcasting equipment, rice, milk (2023)

note: top five import commodities based on value in dollars

Taxes and other revenues

0% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$12.109 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

124% (2024 est.)

government consumption

7.6% (2024 est.)

investment in inventories

0% (2024 est.)

investment in fixed capital

22.7% (2024 est.)

exports of goods and services

20% (2024 est.)

imports of goods and services

-74.3% (2024 est.)

Population below poverty line

54.4% (2022 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2020

4.3% (2020 est.)

Inflation rate (consumer prices) 2021

4.6% (2021 est.)

Inflation rate (consumer prices) 2022

6.8% (2022 est.)

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$24.706 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$25.747 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$26.77 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

32.1% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

33.9% (2024 est.)

female

37% (2024 est.)