What is the GDP of Somalia?

Somalia's GDP is approximately $12 billion USD. The GDP growth rate is 4.1%.

What is the population of Somalia?

Somalia has a population of approximately 19 million people. The population growth rate is 3.5%.

What is the unemployment rate in Somalia?

The unemployment rate in Somalia is 18.9%.

What is the GDP per capita of Somalia?

Somalia's GDP per capita is approximately $630 USD.

Is Somalia a good country to invest in?

Somalia has an investment score of 5/100, classified as "High Risk" risk. Key sectors include Livestock, Telecoms, Fisheries. Credit rating: NR.

How open is Somalia's economy to trade?

Somalia's trade openness (trade as % of GDP) is 130%. Exports total approximately $3.7B and imports $11.9B.

What is Somalia's government debt?

Somalia's government debt is approximately 0% of GDP.

How much foreign investment does Somalia attract?

Foreign direct investment (FDI) in Somalia is 6.4% of GDP. This indicates strong foreign investor interest.

Can I start a business in Somalia as a foreigner?

Somalia offers various options for foreign entrepreneurs. Visit our business setup guide for Somalia for detailed information on entity types, registration steps, costs, tax rates, and foreign ownership rules.

Is Somalia's economy growing?

Somalia's GDP growth rate is 4.1%. This is above the global average, indicating strong economic momentum.

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Somalia Economy Overview

Name: Somalia Economic Data
Creator: NationsData
License: https://datacatalog.worldbank.org/public-licenses#cc-by

Sub-Saharan AfricaLow IncomeCapital: MogadishuSOM

High Risk

Growing

12B USD

GDP (Nominal)

Growing at 4.1%

$630

GDP Per Capita

Developing economy

19M

Population

+3.5% annual growth

Inflation

130%of GDP

Trade Openness

Strong

6.4%of GDP

FDI Inflows

Healthy

0%of GDP

Public Debt

High

18.9%

Unemployment

Deficit

-$8.2B

Trade Balance

GDP

Billion USD, nominal

$12B

2024+1.0B

GDP Growth

Annual %

4.1%

2024-0.1%

No inflation data available

Population

Millions

19M

2024+0.7M

Investment Score Breakdown

Economic Health (30%)5

Political Safety (25%)2

Business Climate (20%)5

Financial Strength (15%)5

Growth Potential (10%)10

Key Sectors

Livestock

40% of GDP

stable

Telecoms

5% of GDP

growing

Fisheries

3% of GDP

stable

Should I Invest in Somalia?

AvoidSetup: ModerateROI: Moderate

Somalia scores 5/100 on the NationsData Investment Index, rated "High Risk". Growth is subdued at 2.8%.

Investment Score5/100

GDP Growth2.8%

Inflation6.5%

FDI/GDP4%

Public Debt35%

Political Stability-2.5

Strengths

+Low public debt (35% of GDP) - fiscal headroom

Risks

-Significant political instability - governance risks may affect business continuity
-Elevated inflation (6.5%) - factor into pricing strategy
-Corruption is a significant concern - budget for compliance and due diligence
-Large current account deficit (-8%) - currency depreciation risk

Also Consider

South Sudan

Same region, similar income level

Central African Republic

Same region, similar income level

Sudan

Same region, similar income level

Burundi

Same region, similar income level

Countries Similar to Somalia

Based on investment profile, economic size, growth rate, and region

🇨🇫

Central African Republic

Similar investment profile · Similar risk level

94% match

🇸🇸

South Sudan

Similar investment profile · Similar risk level

94% match

🇪🇷

Eritrea

Similar investment profile · Similar risk level

91% match

🇹🇩

Chad

Similar investment profile · Similar growth rate

89% match

🇧🇮

Burundi

Similar investment profile · Similar risk level

89% match

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