Somalia (SOM) and Greece (GRC) Trade | The Observatory of Economic Complexity

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Somalia-Greece Trade: In 2023, Somalia exported $45 to Greece. The main products that Somalia exported to Greece were Essential Oils ($45). Over the past 9 years the exports of Somalia to Greece have decreased at an annualized rate of 52.9%, from $39.6k in 2014 to $45 in 2023.

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

Greece-Somalia Trade: In 2023, Greece exported $244k to Somalia. The main products that Greece exported to Somalia were Packaged Medicaments ($241k), Spark-Ignition Engines ($1.95k), and Other Edible Preparations ($804). Over the past 9 years the exports of Greece to Somalia have increased at an annualized rate of 3.73%, from $182k in 2014 to $244k in 2023.

In 2023, Greece 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, Greece ranked 46 in the Economic Complexity Index (ECI 0.4), and 56 in total exports ($53.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Somalia exported $45 to Greece. The main products exported from Somalia to Greece were Essential Oils ($45). During the last 9 years the exports of Somalia to Greece have decreased at an annualized rate of 52.9%, from $39.6k in 2014 to $45 in 2023.

In 2018, Greece exported $244k to Somalia. The main products exported from Greece to Somalia were Packaged Medicaments ($241k), Spark-Ignition Engines ($1.95k), and Other Edible Preparations ($804). During the last 5 years the exports of Greece to Somalia have increased at an annualized rate of 3.73%, from $182k in 2023 to $244k in 2018.

Exports from Somalia () to Greece () (2023)

Exports from Greece () to Somalia () (2023)

Latest Data

Trade between Somalia () and Greece ()

Greece Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$360M

Greece
Top DestinationItaly$6.21B

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

In 2023, countries that imported more from Somalia than Greece included Djibouti ($84.2M), Oman ($180M), and Macau ($19.9M).

In 2023, countries that imported more from Greece than Somalia included Italy ($6.21B), Germany ($3.06B), and Cyprus ($3.03B).

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

Comparative Advantage Somalia - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Somalia had a large net trade with Greece in the exports of Chemical Products ($45).

During 2018, Greece had a large net trade with Somalia in the exports of Chemical Products ($241k), Machines ($2.37k), and Foodstuffs ($804).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Greece+$109kOther Oily Seeds

Top Product Potential Greece Somalia+$531kPackaged Medicaments

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

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Historical Data

Bilateral Trade by Products

Exports from Somalia () to Greece () (2023)

Exports from Greece () to Somalia () (2023)

Latest Data

Trade between Somalia () and Greece ()

Greece Exports

Market Competitiveness

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

Comparative Advantage Somalia - Greece

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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