The Gross Domestic Product (GDP) in Somalia expanded 2.80 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Somalia averaged 3.47 percent from 1961 until 2023, reaching an all time high of 15.00 percent in 2015 and a record low of -17.90 percent in 1994. source: Somali National Bureau Of Statistics

GDP Annual Growth Rate in Somalia is expected to reach 3.40 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Somalia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2026 and 3.50 percent in 2027, according to our econometric models.



Related Last Previous Unit Reference
GDP 12.11 10.97 USD Billion Dec 2024
GDP Annual Growth Rate 2.80 2.40 percent Dec 2023
GDP Constant Prices 10633.00 10203.00 USD Million Dec 2023
GDP per Capita PPP 1408.28 1402.47 USD Dec 2024
Gross Fixed Capital Formation 2622.00 2413.00 USD Million Dec 2023



Somalia GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.40 15.00 -17.90 1961 - 2023 percent Yearly
2022=100