Somalia

Somalia Economic Outlook

  • The base of the economy is narrow because the majority of the population is nomadic and highly dependent on livestock and livestock exports for livelihoods.
  • A lack of internal revenue and weak public financial management are serious constraints on the national budget, leaving the country almost totally dependent on foreign assistance.
  • The African Union (AU) Mission in Somalia and the Somali National Army have lately recovered many areas from Al-Shabaab control, and capacity development is ongoing but insecurity in most parts of the country, weak institutional capacity, and political instability remain the main obstacles to reconstruction and development.

Contacts

East Africa Regional Resource Center (EARC)

African Development Bank Group
Khushee Tower
Longonot  Road, Upper Hill
Nairobi, Kenya

Phone: (254) 20 2712925/ (254) 20 2712926/ (254) 20 2712928
Fax: (254) 20 2712938

Mr. Gabriel Negatu, RRC Director

Key Facts

Flag:
Capital: Mogadishu
Area: 638,000 sq km
Total Population 2013: 10.5 Million
Urban Population 2013: 38.68%
Female Population 2013: 50.26%
GDP: -
GNI Per Capita 2013: -
Inflation Rate: -
Crude Birth Rate (per 1000): 43.77%
Human Development Index (rank / 187): 0
Human Development Index (scale 0 to 1): -
Membership Date: 22/10/1964
Cumulative Approvals (1967-2013): UA 155.8 Million

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