Largest Cities Mogadishu, Hargeysa, Berbera, Kisimayo, Marka
Population 9,133,000 (2009 est)
Area 246,201 sq mi (637,611 km2)
Islam (99%), Others (1%)
GDP per Capita $795 (2007 est) (USD)
2.6% (2009 est)
Livestock, Bananas, Hides, Fish, Charcoal,
Money Currency Somali Shilling (SOS)
FACTS AND FIGURES
Political conflicts and violence.
Popular centre for trade and commerce.
A British colony.
Gained Independence in 1960.
Govt. overthrown by Military.
New parliament – 2004
2006 - AL - SHABAAB
GNP-composition by sector
Agriculture and Livestock form the backbone of Somali economy.
Exports: US$ 187 million (f.o.b., 1999); 128 million f.o.b. (2002 est.)
Commodities: livestock, bananas, hides, fish, charcoal, scrap metal
Exports - partners: Oman Saudi Arabia 9.5%, UAE 45.6%, Italy 12%, Yemen 24.3% (2002)
Imports: US$ 343 million f.o.b. (2001); 200 million (2002 est.)
Commodities: manufactures, petroleum products, foodstuffs, construction materials
Imports - partners: Djibouti 29.8%, Kenya 13.6%, Brazil 10.5%, Thailand 4.7%, UK 4.4%
GDP – GROWTH RATE
Somalia's major exports consisted of agricultural raw materials
and food products.
Livestock was the principal export, with sheep and goats
representing the leading categories, followed by cattle and
The largest single import was food.
Transportation equipment was in second place among imports,
followed by nonelectrical machinery, mineral fuels, cement and
building materials, and iron and steel.
NEGATIVE SIDE OF THE ECONOMY
Lacks natural resources
Highly dependant on remittances from abroad.
Drought has also impaired agricultural and livestock production
Because rainfall is scanty and irregular, farming generally is limited to certain
Fishing industry have been affected by poaching
Absence of central Govt. authority makes the currency debased and was also
responsible for the fake currency racket, in 2007, pushing up Somalia’s inflation
No Railways; internal transportation is limited to truck and bus
Un exploitation of minerals.
POSITIVE SIDE OF THE ECONOMY
Agriculture being the backbone of the economy contributes 65% of
the total GDP.
Cellular phone and radio broadcasting services are well established.
Construction of deep water ports – boom to banana export industry,
With the help of foreign aid, small industries such as textiles,
handicrafts, meat processing, and printing are being established.
Somalia’s private sector has grown considerably, particularly in the
spheres of trade, commerce and infrastructure.
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