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Pricing

2023
Flag → Flag
Exports $33.9MRnk 156 / 219
2023
Flag → Flag
Top Product $8.48MSawn Wood
2023
Flag → Flag
Exports $734kRnk 27 / 92
2023
Flag → Flag
Top Product $457kInsect Resins
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
 GDP$11BCURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 8 / 195
2023
Flag
GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC$597CURRENT US$
Rnk 191 / 196
2013-2023
Flag
GDP PC GROWTH51.9%CURRENT US$
Rnk 45 / 195

About

Italy-Somalia Trade: In 2023, Italy exported $33.9M to Somalia. The main products that Italy exported to Somalia were Sawn Wood ($8.48M), Baked Goods ($2.5M), and Prefabricated Buildings ($1.78M). Over the past 5 years the exports of Italy to Somalia have decreased at an annualized rate of 3.73%, from $41M in 2018 to $33.9M in 2023.

In 2023, Italy did not export any services to Somalia.

Somalia-Italy Trade: In 2023, Somalia exported $734k to Italy. The main products that Somalia exported to Italy were Insect Resins ($457k), Scrap Copper ($270k), and Medical Instruments ($5.95k). Over the past 5 years the exports of Somalia to Italy have increased at an annualized rate of 1.47%,  from $682k in 2018 to $734k in 2023.

In 2023, Somalia did not export any services to Italy.

Comparison In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29),  and 6 in total exports ($638B). That same year, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index.

Latest Trends

N/A

About

Overview In N/A, Italy exported €N/A and imported €N/A from Somalia, resulting in a N/A trade balance of €N/A. Between N/A and N/A the exports of Italy have N/A by €N/A (N/A) from €N/A to €N/A, while imports N/A by €N/A (N/A) from €N/A to €N/A.

Trade In N/A, the top exports of Italy to Somalia were . In N/A the top imports of Italy from Somalia were .

Growth In N/A, the N/A in Italy's year-by-year exports to Somalia was explained primarily by an decrease in product exports in . In N/A, the N/A in Italy's year-by-year imports  from Somalia was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Somalia and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Somalia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $33.9M to Somalia. The main products exported from Italy to Somalia were Sawn Wood ($8.48M), Baked Goods ($2.5M), and Prefabricated Buildings ($1.78M). During the last 5 years the exports of Italy to Somalia have decreased at an annualized rate of 3.73%, from $41M in 2018 to $33.9M in 2023.

In 2018, Somalia exported $734k to Italy. The main products exported from Somalia to Italy were Insect Resins ($457k), Scrap Copper ($270k), and Medical Instruments ($5.95k). During the last 5 years the exports of Somalia to Italy have increased at an annualized rate of 1.47%, from $682k in 2023 to $734k in 2018.

Exports from Italy (Flag) to Somalia (Flag) (2023)

Exports from Somalia (Flag) to Italy (Flag) (2023)

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Somalia
Top DestinationUnited Arab Emirates$360M

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

In 2023, countries that imported more from Italy than Somalia included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

In 2023, countries that imported more from Somalia than Italy included Djibouti ($84.2M).

Difference in imports from Somalia (Flag) and Italy (Flag) (2023)

Comparative Advantage Italy - Somalia

Flow
Scale

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

During 2023, Italy had a large net trade with Somalia in the exports of Wood Products ($8.48M), Machines ($5.74M), and Foodstuffs ($4M).

During 2018, Somalia had a large net trade with Italy in the exports of Vegetable Products ($457k), Metals ($270k), and Instruments ($5.95k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Somalia+$964kPackaged Medicaments
Top Product Potential Somalia Italy+$213kOther Oily Seeds

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 Italy and Somalia. This means that a dot/product with the flag of Italy indicates it has a comparative advantage over Somalia. Similarly, a dot/product with the flag of Somalia indicates it has a comparative advantage over Italy.

Product Space of Italy (Flag) and Somalia (Flag) (2023)

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