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2022
Product
Exports | Imports $569M | $5.62B167 of 226 |  140 of 226
2022
Per Capita Product
Exports | Imports $32.3 | $319180 of 220 |  195 of 220

About

Overview In 2022 Somalia was the number 167 economy in the world in terms of total exports and the number 140 in total imports.

Exports The top exports of Somalia are Gold ($246M), Sheep and Goats ($163M), Bovine ($39.6M), Insect Resins ($32.3M), and Crustaceans ($21.4M), exporting mostly to United Arab Emirates ($283M), Oman ($173M), Bulgaria ($18.5M), India ($15.6M), and Kuwait ($13.5M).

Imports The top imports of Somalia are Rolled Tobacco ($530M), Raw Sugar ($420M), Palm Oil ($261M), Rice ($243M), and Concentrated Milk ($212M), importing mostly from United Arab Emirates ($1.88B), China ($1.05B), India ($912M), Turkey ($386M), and Ethiopia ($265M).

Location Somalia borders Djibouti, Ethiopia, and Kenya by land and Yemen by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Somalia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Gold$246M
Top Destination (2022)United Arab Emirates$283M

In 2022, Somalia exported a total of $569M, making it the number 167 exporter in the world. During the last five reported years the exports of Somalia have changed by $149M from $420M in 2017 to $569M in 2022.

The most recent exports are led by Gold ($246M), Sheep and Goats ($163M), Bovine ($39.6M), Insect Resins ($32.3M), and Crustaceans ($21.4M). The most common destination for the exports of Somalia are United Arab Emirates ($283M), Oman ($173M), Bulgaria ($18.5M), India ($15.6M), and Kuwait ($13.5M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
United Arab Emirates$145M (+ 105%)
Bulgaria$8.04M (+ 76.5%)
Kuwait$8M (+ 145%)
Fastest Growing Import Markets (2021 - 2022)
United Arab Emirates$350M (+ 22.9%)
India$213M (+ 30.6%)
China$61.1M (+ 6.2%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Somalia has a high level of specialization in Sheep and Goats (3.55k), Insect Resins (1.13k), Other Animals (207), Bovine (183), and Other Oily Seeds (56.9). Specialization is measured using RCA, an index that takes the ratio between Somalia observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Somalia according to the product complexity index (PCI) are Coin (0.071), Fish; live (-0.47), Leather further prepared after tanning or crusting, including parchment-dressed leather, of bovine... (-0.5), Ferrous waste and scrap; remelting scrap ingots of iron or steel (-0.52), and Aluminium; waste and scrap (-0.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Somalia according to the relatedness index, were Crude Petroleum (0.066), Tropical Fruits (0.063), Manganese Ore (0.06), Raw Cotton (0.06), and Cocoa Beans (0.06). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Somalia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Somalia. These are products that tend to be co-exported with the products that Somalia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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