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Pricing

2021
Flag → Flag
Exports $29.3MRnk 115 / 0
2021
Flag → Flag
Exports $731kRnk 18 / 0
2022
Flag
Economic Complexity (ECI) ECI 0.072Rnk 60 / 133
2022
Flag  
GDP$389BCURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP GROWTH-39.7%CURRENT US$
Rnk 183 / 186
2022
Flag
 GDP$8.13BCURRENT US$
Rnk 148 / 186
2012-2022
Flag
GDP GROWTH0%CURRENT US$
Rnk 165 / 186
2022
Flag
GDP PC $4,388CURRENT US$
Rnk 116 / 186
2012-2022
Flag
GDP PC GROWTH-47.3%CURRENT US$
Rnk 183 / 186
2022
Flag
GDP PC$462CURRENT US$
Rnk 183 / 186
2012-2022
Flag
GDP PC GROWTH0%CURRENT US$
Rnk 143 / 186

About

Iran-Somalia Trade: In 2021, Iran exported $29.3M to Somalia. The main products that Iran exported to Somalia were N/A. Over the past 5 years the exports of Iran to Somalia have decreased at an annualized rate of 1.04%, from $30.9M in 2016 to $29.3M in 2021.

In 2021, Iran did not export any services to Somalia.

Somalia-Iran Trade: In 2021, Somalia exported $731k to Iran. The main products that Somalia exported to Iran were N/A. Over the past 5 years the exports of Somalia to Iran have increased at an annualized rate of 20.2%,  from $292k in 2016 to $731k in 2021.

In 2021, Somalia did not export any services to Iran.

Comparison In 2022,  Iran ranked 60 in the Economic Complexity Index (ECI 0.072),  and 86 in total exports ($15.9B). That same year, Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, Iran exported $29.3M to Somalia. There were not main exports from Iran to Somalia in 2021. During the last 5 years the exports of Iran to Somalia have decreased at an annualized rate of 1.04%, from $30.9M in 2016 to $29.3M in 2021.

In 2010, Somalia exported $731k to Iran. There were not main exports from Somalia to Iran in 2010. During the last 5 years the exports of Somalia to Iran have increased at an annualized rate of 20.2%, from $292k in 2015 to $731k in 2010.

Exports from Iran (Flag) to Somalia (Flag) (2021)

Exports from Somalia (Flag) to Iran (Flag) (2021)

Market Competitiveness

Color
Iran
Top DestinationChina$5.72B
Somalia
Top DestinationUnited Arab Emirates$283M

This map shows whether countries import more from Iran or Somalia. Each country is colored based on the difference in imports they receive from Iran and Somalia or the difference in the growth in imports.

In 2022, countries that imported more from Iran than Somalia included China ($5.72B), Turkey ($3.17B), and Kuwait ($960M).

In 2022, countries that imported more from Somalia than Iran included Macau ($2.24M), Israel ($13k), and Palestine ($7.72k).

Difference in imports from Somalia (Flag) and Iran (Flag) (2022)

Comparative Advantage Iran - Somalia

Flow
Scale

This chart compares trade between Iran and Somalia by product, considering products traded by both, Iran and Somalia.

During 2021, Iran had a large net trade with Somalia in the exports of .

During 2010, Somalia had a large net trade with Iran in the exports of .

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Iran Somalia+$2.19kCement
Top Product Potential Somalia Iran+$2.25kGold

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Iran and Somalia. This means that a dot/product with the flag of Iran indicates it has a comparative advantage over Somalia. Similarly, a dot/product with the flag of Somalia indicates it has a comparative advantage over Iran.

Product Space of Iran (Flag) and Somalia (Flag) (2021)

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