Somalia's GDP 2018 to 2024: the national accounts tables

Where the numbers come from

Somalia's official GDP is published by the Somali National Bureau of Statistics (SNBS) in Mogadishu. It measures GDP by spending: what families, government and businesses spend, plus exports, minus imports. The tables here are from the bureau's yearbook, Somalia Facts and Figures, 7th edition, October 2024, Tables 2.15 to 2.18 (SNBS, Facts and Figures 2024). The full table is in the data file somalia-gdp-2018-2024.csv on this page.

Figures are revised as new data arrive. The Central Bank's 2025 annual report, which uses revised series and 2025 prices, puts GDP at about $13.2 billion in 2025 (Central Bank of Somalia, Annual Report 2025). See Somalia's economy at a glance for the latest year.

GDP and growth, year by year

GDP at current prices, GDP per person, and real growth at constant prices (SNBS, Tables 2.15 and 2.18):

The 2020 fall is the only year of decline in the series.

What the economy spends on, 2024

At current prices, in millions of US dollars (SNBS, Tables 2.15 and 2.16):

• Household spending: 15,961, equal to 133 percent of GDP.
• Government spending on services: 931, about 8 percent of GDP.
• Investment (buildings, machines, equipment): 3,201, about 27 percent of GDP. It was 16 percent in 2018.
• Exports of goods and services: 3,735, about 31 percent of GDP, up from 1,119 in 2018.
• Imports of goods and services: 11,861, about 99 percent of GDP.

Household spending is larger than GDP because Somalia's families receive far more from abroad than the country earns from exports. Gross national disposable income, which counts money received from abroad, was $18.2 billion in 2024, about $6.3 billion more than GDP (same source).

Growth by part of the economy, 2024

Change at constant prices from 2023 (SNBS, Table 2.18):

• Household spending: +8.8 percent
• Government spending: +16.0 percent
• Investment: +21.1 percent
• Exports: +42.3 percent
• Imports: +28.5 percent

The longer view

The World Bank's series of GDP per person, adjusted for prices in each country (in 2021 international dollars), rises from about $663 in 1996 to about $1,528 in 2017, and has stayed near $1,400 since 2020 (World Bank, NY.GDP.PCAP.PP.KD, via Our World in Data). This measure is higher than the SNBS dollar figure because it allows for lower prices in Somalia.

Debt and the balance with the world

From the bureau's balance of payments table (SNBS, Table 2.14):

• External public debt fell from $5.2 billion in 2018 to $1.5 billion in 2024, after debt relief in December 2023. See Debt and debt relief.
• Money received from abroad (secondary income credit, mostly family transfers and aid) was $7.4 billion in 2024, up from $2.6 billion in 2018.
• Foreign direct investment into Somalia rose from $408 million in 2020 to $718 million in 2024.

Things to keep in mind

The SNBS tables are new, and some lines are revised from year to year. In the 2021 column of the balance of payments, services show a negative export figure, which points to a data error. The 2024 GDP is $11,966 million in Table 2.15 but $11,699 million in Table 2.14. Use the trend, check the date of each figure, and compare with the Central Bank and IMF.