Somalia: Exports, percent of GDP

* indicates monthly or quarterly data series
 Somalia

Exports of goods and services as percent of GDP

 Latest value 17.89
 Year 2023
 Measure percent
 Data availability 1960 - 2023
 Average 15.11
 Min - Max 4.76 - 33.24
 Source The World Bank
The latest value from 2023 is 17.89 percent, an increase from 17.31 percent in 2022. In comparison, the world average is 45.76 percent, based on data from 138 countries. Historically, the average for Somalia from 1960 to 2023 is 15.11 percent. The minimum value, 4.76 percent, was reached in 1988 while the maximum of 33.24 percent was recorded in 1980. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Somalia - Exports, percent of GDP - Recent values chart

Historical series
Somalia - Exports, percent of GDP - historical chart - 1960-2023




The exports of Somalia and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

All articles



 Related indicators Latest Reference Measure
 Terms of trade 121.58 2021 percent
 Trade openness 94.58 2023 percent
 Financial openness -1.931 2007 index points
 Exports, percent of GDP 17.89 2023 percent
 Exports, billion dollars 2.09 2023 billion U.S. dollars
 Growth of exports 5.95 2023 percent
 Imports, percent of GDP 76.69 2023 percent
 Imports, billion dollars 8.96 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 5.79 2023 percent
 Foreign Direct Investment, billion dollars 0.64 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.00 1989 million dollars (current)
 Current account, percent of GDP -12.40 2023 percent
 Trade balance, percent of GDP -58.79 2023 percent
 Reserves 0.02 1989 billion U.S. dollars
 Remittances, percent of GDP 14.85 2023 percent
 Remittances 1,735.00 2023 million U.S. dollars
 External debt 40.14 2022 percent
 Short-term external debt 28.30 2022 percent
 Short-term debt to reserves 842.53 1989 percent
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