Somalia (SOM) and Sri Lanka (LKA) Trade | The Observatory of Economic Complexity

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Somalia-Sri Lanka Trade: In 2023, Somalia exported $62.5k to Sri Lanka. The main products that Somalia exported to Sri Lanka were Live Fish ($62.3k), Ball Bearings ($98), and Citrus ($51). Over the past 6 years the exports of Somalia to Sri Lanka have increased at an annualized rate of 162%, from $193 in 2017 to $62.5k in 2023.

In 2023, Somalia did not export any services to Sri Lanka.

Sri Lanka-Somalia In N/A, Sri Lanka did not export any products to Somalia.

In 2023, Sri Lanka 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, Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Somalia exported $62.5k to Sri Lanka. The main products exported from Somalia to Sri Lanka were Live Fish ($62.3k), Ball Bearings ($98), and Citrus ($51). During the last 6 years the exports of Somalia to Sri Lanka have increased at an annualized rate of 162%, from $193 in 2017 to $62.5k in 2023.

Sri Lanka does not register exports to Somalia. The main products exported from Sri Lanka to Somalia were Packaged Medicaments ($60.5k), Tea ($20.2k), and Iron Springs ($7.76k).

Exports from Somalia () to Sri Lanka () (2023)

Exports from Sri Lanka () to Somalia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$360M

Sri Lanka
Top DestinationUnited States$2.98B

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

In 2023, countries that imported more from Somalia than Sri Lanka included Saudi Arabia ($283M), Oman ($180M), and Djibouti ($84.2M).

In 2023, countries that imported more from Sri Lanka than Somalia included United States ($2.98B), India ($991M), and Germany ($906M).

Difference in imports from Sri Lanka () and Somalia () (2023)

Comparative Advantage Somalia - Sri Lanka

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Somalia had a large net trade with Sri Lanka in the exports of Animal Products ($62.3k), Machines ($131), and Vegetable Products ($51).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Sri Lanka+$3.15kGold

Top Product Potential Sri Lanka Somalia+$1.96kRubber Tires

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

About

Historical Data

Bilateral Trade by Products

Exports from Somalia () to Sri Lanka () (2023)

Exports from Sri Lanka () to Somalia () (2023)

Market Competitiveness

Difference in imports from Sri Lanka () and Somalia () (2023)

Comparative Advantage Somalia - Sri Lanka

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Somalia () and Sri Lanka () (2023)

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