(measure: billion U.S. dollars; Source: The World Bank)
* indicates monthly or quarterly data series
Somalia: Foreign exchange reserves including gold, billion USD
For that indicator, we provide data for Somalia from 1960 to 1989. The average value for Somalia during that period was 0.03 billion U.S. dollars with a minimum of 0.01 billion U.S. dollars in 1960 and a maximum of 0.13 billion U.S. dollars in 1978.
The latest value from 1989 is 0.02 billion U.S. dollars. For comparison, the world average in 1989 based on 136
countries is 7.76 billion U.S. dollars.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The reserves of Somalia and other countries include their holdings of foreign currencies and gold. These are the reserves of the central bank and the treasury of the country, not the private sector.
When countries export products or attract investment from other countries, they receive foreign currencies. They use some of these currencies to buy imports and to invest in other countries. The rest is held in reserves and some of the reserves may be converted to gold.
Definition: Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars.