Somalia: Business freedom

The latest value from 2021 is 31 points, a decline from 32 points in 2020. In comparison, the world average is 63 points, based on data from 181 countries. Historically, the average for Somalia from 2017 to 2021 is 47 points. The minimum value, 31 points, was reached in 2021 while the maximum of 92 points was recorded in 2017. See the global rankings for that indicator or use the country comparator to compare trends over time.

The Business Freedom index for Somalia from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Somalia in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).