Somalia

Somalia : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook

Imports

$1.263 billion (2010 est.)
$798 million

Exports

$515.8 million (2010 est.)
$300 million

Inflation rate (consumer prices)

NA%
note: businesses print their own money, so inflation rates cannot be easily determined

Unemployment rate

NA%

GDP - per capita (PPP)

$600 (2010 est.)
$600 (2009 est.)
$600 (2008 est.)
note: data are in 2011 US dollars

National product real growth rate

2.6% (2010 est.)
2.6% (2009 est.)
2.6% (2008 est.)

Internet users

106,000 (2009)

Telephones - mobile cellular

648,200 (2009)

Population growth rate

1.596% (2012 est.)

Population

10,085,638 (July 2012 est.)
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

Historical background

Britain withdrew from British Somaliland in 1960 to allow its protectorate to join with Italian Somaliland and form the new nation of Somalia.

In 1969, a coup headed by Mohamed SIAD Barre ushered in an authoritarian socialist rule characterized by the persecution, jailing and torture of political opponents and dissidents.

After the regime's collapse early in 1991, Somalia descended into turmoil, factional fighting, and anarchy.

...
More »
Somalia

Economic overview

Despite the lack of effective national governance, Somalia has maintained a healthy 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.

...
More »

Privacy Policy by TRUSTe
ReportLinker is a professional search engine that provides an easy access to 1,2 million market research reports and industry statistics published by 200,000 authoritative sources.