Somalia's economy in numbers:
Nominal GDP of USD 18.1 billion in 2022.
Nominal GDP of USD 18.1 billion in 2022.
GDP per capita of USD 1,158 compared to the global average of USD 10,589.
GDP per capita of USD 1,158 compared to the global average of USD 10,589.
Average real GDP growth of 2.9% over the last decade.
Average real GDP growth of 2.9% over the last decade.
Economic growth:
The economy recorded average annual growth of 2.9% in the decade to 2022. To read more about GDP growth in Somalia, go to our dedicated page.
Inflation:
Inflation averaged 10.2% in the decade to 2022. Go to our Somalia inflation page for extra insight.
Exchange Rate:
From end-2012 to end-2022 the shilling strengthened by 180.8% vs the U.S. dollar. For more info on the shilling, click here.
21 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 4 expert analysts.
Want to get insight on the economic outlook for Somalia in the coming years? FocusEconomics collects projections out to 2034 on 21 economic indicators for Somalia from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Somalia economy. To download a sample report on the Somalia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.