Somalia Economic Outlook

  • The country’s economic base continues to be narrow with the majority of people depending on livestock and fisheries.
  • The small tax base and weak public financial management continue to cause serious constraints on the government budget, thus leaving the country almost totally dependent on foreign assistance and remittances.
  • While the main obstacles to commerce, investment, and government revenue collection continue to be a lack of peace and security, the Somali National Army (SNA) has had success in recovering many areas that were under Al-Shabaab’s control.

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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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