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2023
Product
Exports | Imports $1.03B | $5.22B161 of 226 |  145 of 226
2023
Per Capita Product
Exports | Imports $56.1 | $284173 of 220 |  197 of 220

About

Overview In 2023 Somalia was the number 161 economy in the world in terms of total exports and the number 145 in total imports.

Exports The top exports of Somalia are Sheep and Goats ($377M), Gold ($315M), Documents of title (bonds etc) and unused stamps ($81.8M), Other Animals ($74.7M), and Bovine ($43M), exporting mostly to United Arab Emirates ($360M), Saudi Arabia ($283M), Oman ($180M), Djibouti ($84.2M), and India ($30.9M).

Imports The top imports of Somalia are Raw Sugar ($394M), Rolled Tobacco ($280M), Broadcasting Equipment ($243M), Rice ($226M), and Palm Oil ($202M), importing mostly from United Arab Emirates ($1.52B), China ($1.01B), India ($780M), Turkey ($424M), and Oman ($257M).

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 (2023)Sheep and Goats$377M
Top Destination (2023)United Arab Emirates$360M

In 2023, Somalia exported a total of $1.03B, making it the number 161 exporter in the world. During the last five reported years the exports of Somalia have changed by $539M from $490M in 2018 to $1.03B in 2023.

The most recent exports are led by Sheep and Goats ($377M), Gold ($315M), Documents of title (bonds etc) and unused stamps ($81.8M), Other Animals ($74.7M), and Bovine ($43M). The most common destination for the exports of Somalia are United Arab Emirates ($360M), Saudi Arabia ($283M), Oman ($180M), Djibouti ($84.2M), and India ($30.9M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Saudi Arabia$151M (+ 115%)
United Arab Emirates$75.9M (+ 26.8%)
Djibouti$58.5M (+ 228%)
Fastest Growing Import Markets (2022 - 2023)
Brazil$133M (+ 315%)
Turkey$37.8M (+ 9.78%)
Kenya$24.7M (+ 19%)

Total Export Growth by Market (2022 - 2023)

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 (2.85k), Other Animals (927), Documents of title (bonds etc) and unused stamps (636), Insect Resins (265), and Bovine (86.5). 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 Fish; live (-0.44), Ferrous waste and scrap; remelting scrap ingots of iron or steel (-0.57), Bitumen and asphalt, natural; bituminous or oil shale and tar sands; asphaltites... (-0.79), Copper; waste and scrap (-0.87), and Bovine animals; live (-0.93). 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 Cocoa Beans (0.067), Manganese Ore (0.066), Tropical Fruits (0.064), Non-fillet Fresh Fish (0.061), and Other Mineral (0.061). 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 (2023)

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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