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Somalia Economic Outlook

Real GDP growth was an estimated 2.9% in 2018. Supply-side contributors were mainly agriculture, livestock, and financial and telecommunications services. Demand-side contributors were largely government and private consumption, which together constituted about 83% of GDP. The current account deficit hurt growth as it widened to an estimated 7.2% in 2018, driven by rising consumer and capital goods imports, particularly food imports due to persistent droughts; higher oil prices; and Saudi Arabia’s ban on Somali livestock imports, following the Rift Valley fever outbreak.

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Key Facts

Capital: Mogadishu
Area: 638,000 sq km
Total Population 2017: 11.4 Million ...
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: -
GNI Per Capita 2015: -
Inflation Rate: -
Crude Birth Rate (per 1000): 43.00%
Human Development Index (rank / 188): 0
Human Development Index (scale 0 to 1): -
Membership Date: 22/10/1964
Cumulative Approvals (1967-2016): UA 178.4 Million

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