Merchandise Trade Balance in Somalia
Over the past decade, Somalia's merchandise trade balance averaged at a deficit of USD 2.2 billion. The deficit in 2022 was greater, at USD 3.8 billion. For more trade information, visit our dedicated page.
Somalia Trade Chart
Note: This chart displays Trade Balance (USD billion) for Somalia from 2014 to 2023.
Source: Macrobond.
Somalia Trade Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -3.0 | -3.4 | -3.5 | -3.6 | -3.2 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Somali trade projections for the next ten years from a panel of 1 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. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Somali trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Somali trade projections.
Want to get access to the full dataset of Somali trade forecasts? Send an email to info@focus-economics.com.