Somalia (SOM) and Australia (AUS) Trade | The Observatory of Economic Complexity

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Somalia-Australia Trade: In 2023, Somalia exported $31.3k to Australia. The main products that Somalia exported to Australia were Essential Oils ($13.9k), Insect Resins ($10.4k), and Semiconductor Devices ($2.87k). Over the past 5 years the exports of Somalia to Australia have decreased at an annualized rate of 28.6%, from $168k in 2018 to $31.3k in 2023.

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

Australia-Somalia Trade: In 2023, Australia exported $470k to Somalia. The main products that Australia exported to Somalia were Other Electrical Machinery ($169k), Electrical Lighting and Signalling Equipment ($110k), and Telephones ($85.8k). Over the past 5 years the exports of Australia to Somalia have decreased at an annualized rate of 4.22%, from $860k in 2018 to $470k in 2023.

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

Comparison In 2023, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index. That same year, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Somalia exported $31.3k to Australia. The main products exported from Somalia to Australia were Essential Oils ($13.9k), Insect Resins ($10.4k), and Semiconductor Devices ($2.87k). During the last 5 years the exports of Somalia to Australia have decreased at an annualized rate of 28.6%, from $168k in 2018 to $31.3k in 2023.

In 2018, Australia exported $470k to Somalia. The main products exported from Australia to Somalia were Other Electrical Machinery ($169k), Electrical Lighting and Signalling Equipment ($110k), and Telephones ($85.8k). During the last 5 years the exports of Australia to Somalia have decreased at an annualized rate of 4.22%, from $860k in 2023 to $470k in 2018.

Exports from Somalia () to Australia () (2023)

Exports from Australia () to Somalia () (2023)

Latest Data

Trade between Somalia () and Australia ()

Australia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$360M

Australia
Top DestinationChina$137B

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

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

In 2023, countries that imported more from Australia than Somalia included China ($137B), Japan ($59B), and South Korea ($20.9B).

Difference in imports from Australia () and Somalia () (2023)

Comparative Advantage Somalia - Australia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Somalia had a large net trade with Australia in the exports of Chemical Products ($15.2k), Vegetable Products ($10.4k), and Machines ($3.55k).

During 2018, Australia had a large net trade with Somalia in the exports of Machines ($452k), Instruments ($8.75k), and Metals ($6.55k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Australia+$84.5kMedical Instruments

Top Product Potential Australia Somalia+$161kTelephones

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Somalia () to Australia () (2023)

Exports from Australia () to Somalia () (2023)

Latest Data

Trade between Somalia () and Australia ()

Australia Exports

Market Competitiveness

Difference in imports from Australia () and Somalia () (2023)

Comparative Advantage Somalia - Australia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Somalia () and Australia () (2023)

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