In 2023, Somalia's GDP was heavily dominated by the agriculture, hunting, forestry, and fishing sector, contributing 60.18% to the GDP. Services followed with 12.45%, while the wholesale, retail trade, restaurants, and hotels sector accounted for 10.62%. Transport, storage, and communication made up 9.39%, with construction contributing 4.2% and mining, manufacturing, and utilities at 3.16%. Year-on-year trends show slight variations across all sectors, with agriculture maintaining its significant role. The 5-year CAGR suggests a stable yet slow sectoral growth trend.
Future trends to monitor in Somalia's GDP composition include potential diversification in the economic base, especially in services and construction, driven by urbanization and infrastructure development. Additionally, innovation in agricultural practices could improve productivity and efficiency, potentially impacting the sector's GDP share positively.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Agriculture, hunting, forestry, fishing | 60.18 | 2016 | |
| 2 | 2 Services | 12.45 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 10.62 | 2016 | |
| 4 | 4 Transport, storage and communication | 9.39 | 2016 | |
| 5 | 5 Construction | 4.2 | 2016 | |
| 6 | 6 Mining, Manufacturing, Utilities | 3.16 | 2016 |
