Somalia GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Somalia expanded 2.60 percent in 2012 from the previous year. GDP Annual Growth Rate in Somalia averaged 1.44 Percent from 1961 until 2012, reaching an all time high of 14.88 Percent in 1972 and a record low of -21 Percent in 1994.
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Somalia is one of the poorest and least safe countries in the world. In 1991, a military coup triggered an ethnic-motivated civil. And only in recent months, Somali government forces with support of the African Union have been regaining control of country. Since for a long time Somalia did not have an effective central government and security, the country lacks basic infrastructure and social net. Crime rates are high, famines are common and many of its citizens are displaced. As such, Somalia’s economy is dependent on foreign aid, remittances and livestock. It is expected that with recently elected government, stability will return and the economy will substantially recover. This page provides - Somalia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.