Indicators of economy in Somalia
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Somalia, on the other hand, reached USD 447 per capita, or 7.63 billion USD for the whole country. Somalia is one of the smaller economies and is currently ranked 155. If this is calculated per inhabitant, taking purchasing power parity into account, then Somalia ranks 187th in the list of the richest countries.The index for perceived corruption in the public sector is 12, which is rather poor by global standards.
Back to overview: Somalia
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Somalia in 2020 increased from 6.49 billion US dollars to 6.88 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 6.1 percent increase has been rather unusual this year. While most countries have suffered significant losses, Somalia has certainly held its own. The unemployment rate rose from 18.8 to 19.6 percent.Unemployment rates in percentages 1991 - 2022
Economic performance 2021
| Somalia Total | Somalia per capita | EU Total | EU per capita | |
|---|---|---|---|---|
| GDP | 7.63 bn USD | 446.98 USD | 17.177 tn USD | 33,384.92 USD |
| Gross national product | 7.41 bn USD | 434.18 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in millions of USD 1960 - 2021
Imports and Exports
| Somalia Total | Somalia per capita | EU Total | EU per capita | |
|---|---|---|---|---|
| Imports | 94.43 bn USD | 5,533.36 USD | 8.916 tn USD | 17,329.02 USD |
| Exports | 819.00 m USD | 47.99 USD | 9.554 tn USD | 18,569.19 USD |
The 7 airports in Somalia
List of the 11 current Pariah States
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