The growth of the real gross domestic product (GDP) in Somalia was estimated at about four percent in 2024. From 2012 to 2024, the growth rose by approximately 2.80 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the growth will rise by around 0.50 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

The Gross Domestic Product (GDP) in Somalia was worth 12.11 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Somalia represents 0.01 percent of the world economy. This dataset provides - Somalia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Das Bruttoinlandsprodukt (BIP) in Somalia stieg im vierten Quartal 2023 um 2,80 Prozent gegenüber dem gleichen Quartal des Vorjahres. Diese Seite bietet - Somalia BIP-Wachstumsrate - tatsächliche Werte, historische Daten, Prognosen, Diagramme, Statistiken, Wirtschaftskalender und Nachrichten.

The gross domestic product (GDP) by fiscal year in Somalia was estimated at about 12.13 billion U.S. dollars in 2024. Between 2011 and 2024, the GDP rose by approximately 7.11 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 7.40 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

The Gross Domestic Product per capita in Somalia was last recorded at 467.09 US dollars in 2024. The GDP per Capita in Somalia is equivalent to 4 percent of the world's average. This dataset provides - Somalia GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP per capita growth of Somalia sank by 60.78% from 1.1 % in 2023 to 0.4 % in 2024. Since the 29.90% jump in 2022, GDP per capita growth plummeted by 224.01% in 2024. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant U.S. dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

Somalia: Gross Domestic Product, billions of U.S. dollars: The latest value from 2024 is 12.11 billion U.S. dollars, an increase from 10.97 billion U.S. dollars in 2023. In comparison, the world average is 612.35 billion U.S. dollars, based on data from 176 countries. Historically, the average for Somalia from 1960 to 2024 is 2.78 billion U.S. dollars. The minimum value, 0.18 billion U.S. dollars, was reached in 1960 while the maximum of 12.11 billion U.S. dollars was recorded in 2024.

0.4 (%) in 2024. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant U.S. dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

GDP (current US$) in Somalia was reported at 12108515110 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Somalia - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Graph and download economic data for Gross Domestic Product for Somalia (MKTGDPSOA646NWDB) from 1960 to 2024 about Somalia and GDP.

GDP per capita of Somalia leapt by 6.62% from 597 US dollars in 2023 to 637 US dollars in 2024. Since the 4.02% downward trend in 2020, GDP per capita rocketed by 22.93% in 2024. GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Somalia: Exports of goods and services as percent of GDP: The latest value from 2024 is 20.02 percent, an increase from 19.73 percent in 2023. In comparison, the world average is 44.58 percent, based on data from 134 countries. Historically, the average for Somalia from 1960 to 2024 is 15.66 percent. The minimum value, 4.76 percent, was reached in 1988 while the maximum of 33.24 percent was recorded in 1980.

GDP per capita (LCU) of Somalia jumped by 10.11% from 16,266,003 LCU in 2023 to 17,910,593 LCU in 2024. Since the 1.35% fall in 2020, GDP per capita (LCU) shot up by 34.17% in 2024. GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

Real GDP (LCU) of Somalia rose by 3.97% from 285,308,981,721,500 LCU in 2023 to 296,642,369,771,400 LCU in 2024. Since the 2.75% decline in 2020, real GDP (LCU) soared by 15.16% in 2024. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant local currency.

Somalia: GDP per capita, Purchasing Power Parity: The latest value from 2024 is 1408 U.S. dollars, an increase from 1402 U.S. dollars in 2023. In comparison, the world average is 27291 U.S. dollars, based on data from 177 countries. Historically, the average for Somalia from 1991 to 2024 is 1013 U.S. dollars. The minimum value, 635 U.S. dollars, was reached in 1994 while the maximum of 1527 U.S. dollars was recorded in 2017.

Real GDP based on PPP of Somalia climb by 3.97% from 25,747,405,283 international dollars in 2023 to 26,770,174,821 international dollars in 2024. Since the 2.75% decrease in 2020, real GDP based on PPP rocketed by 15.16% in 2024. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

Claims on central government (% of GDP) of Somalia surged by 6.80% from 0.0 % in 2023 to 0.0 % in 2024. Since the 17.10% slump in 2022, claims on central government (% of GDP) plummeted by 128.24% in 2024. Claims on central government (IFS line 52AN or 32AN) include loans to central government institutions net of deposits.

Graph and download economic data for Population Growth for Somalia (SPPOPGROWSOM) from 1961 to 2024 about Somalia, population, and rate.

The Gross Domestic Product per capita in Somalia was last recorded at 1402.47 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Somalia, when adjusted by Purchasing Power Parity is equivalent to 8 percent of the world's average. This dataset provides - Somalia Gdp Per Capita Ppp - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The share of the global gross domestic product (GDP) adjusted for purchasing power parity (PPP) in Somalia was estimated at approximately 0.02 percent in 2024. Overall, there is little change visible over the observed period.This indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.