Ivan Kushnir

Economy of Somalia - Economy in Countries Ivan Kushnir

This book about the economy of Somalia from the 1970s to the 2010s. Source data from UN Data.

Size. In the 2010s, the GDP of Somalia was equal to $1.5 billion per year. Since the share in the world is less than .01%, the country is classified as a micro economy.

Productivity. In the 2010s, the GDP per capita was $108.4. Since the productivity is less the average below average, the economy is classified as least developed.

Growth. In the 2010s, the growth of GDP was 2.7%.

Structure. In the 2010s, the economy of Somalia included: agriculture (60.2%), services (12.5%), trade (10.6%), transportation (9.4%), construction (4.2%), and industry (3.2%).

Export and import. In the 2010s, the import was 5.5 times higher than the export, the net import was equal to 1.4% of the GDP. The technological structure of export is not better than the structure of import.

Consumption and reproduction. The attitude of reproduction to the consumption is not better than the global average, so the share of GDP in the world will not increase.