Somalia: Financial openness
* indicates monthly or quarterly data series
| Somalia |
Financial openness index |
|---|---|
| Latest value | -1.935 |
| Year | 2007 |
| Measure | index points |
| Data availability | 1970 - 2007 |
| Average | -1.685 |
| Min - Max | -1.935 - -1.248 |
| Source | Chinn-Ito Index |
The latest value from 2007 is -1.935 index points, unchanged from -1.935 index points in 2006. In comparison, the world average is 0.362 index points, based on data from 175 countries. Historically, the average for Somalia from 1970 to 2007 is -1.685 index points. The minimum value, -1.935 index points, was reached in 1981 while the maximum of -1.248 index points was recorded in 1970.
See the global rankings or
world map for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
Recent data
Historical series
Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
Are trade deficits bad for the economy?
Sources of economic growth
Currency values and investment returns
How to write an economics research paper
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 117.40 | 2023 | percent |
| Trade openness | 128.06 | 2025 | percent |
| Financial openness | -1.935 | 2007 | index points |
| Exports, percent of GDP | 29.25 | 2025 | percent |
| Exports, billion dollars | 3.80 | 2025 | billion U.S. dollars |
| Growth of exports | -1.20 | 2025 | percent |
| Imports, percent of GDP | 98.81 | 2025 | percent |
| Imports, billion dollars | 12.84 | 2025 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 6.39 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 0.77 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 1989 | million dollars (current) |
| Trade balance, percent of GDP | -67.90 | 2024 | percent |
| Reserves | 0.02 | 1989 | billion U.S. dollars |
| Remittances, percent of GDP | 2.95 | 1983 | percent |
| Remittances | 21.70 | 1983 | million U.S. dollars |
| External debt | 27.56 | 2023 | percent |
| Short-term external debt | 21.54 | 2023 | percent |