Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
—
Highest
15.00 % on Dec 31, 2015
Lowest
−17.90 % on Dec 31, 1994
About Somalia GDP YoY
Somalia is one of the poorest and least safe countries in the world. In 1991, a military coup triggered an ethnic-motivated civil. And only in recent months, Somali government forces with support of the African Union have been regaining control of country. Since for a long time Somalia did not have an effective central government and security, the country lacks basic infrastructure and social net. Crime rates are high, famines are common and many of its citizens are displaced. As such, Somalia’s economy is dependent on foreign aid, remittances and livestock. It is expected that with recently elected government, stability will return and the economy will substantially recover.