Somalia's economy at a glance: the latest figures, with sources

The figures

Inflation rose sharply from March 2026. Annual average inflation was 3.7% in 2025.

What the figures mean

Growth and the June 2026 revision.

• Revised series: SNBS revised its national accounts in June 2026. Its reasons included updated balance-of-payments data, a new national consumer price index used from 2022, and a correction to the formula used to deflate exports of services.
• Effect on 2024: 2024 GDP rose from US$11.97 billion to US$12.35 billion, and 2024 growth moved from 4.1% to 4.0%. The Bankable Projects 2026–2030 booklet (p.7) uses the earlier figures.

Forecasts for 2026 differ.

• World Bank: growth "projected to slow further to about 2.8 percent in 2026" (Macro Poverty Outlook, April 2026).
• IMF: 3.3% in its December 2025 review, then 2.6% in its April 2026 regional outlook.
• Revisions: neither forecast yet reflects the SNBS revision.

Population is uncertain.

• No recent census: population figures rest on the 2014 Population Estimation Survey and UN estimates.
• World Bank and UN: they estimate about 19.7 million people in 2025.
• SNBS: it projects the 2014 population survey forward at 2.8% a year, which gives a lower total of about 16.7 million (Xidig's calculation from SNBS figures).
• Effect on per-person figures: GDP per person is higher on the SNBS base than it would be on the UN estimate.

Prices.

• Coverage change: until recently, published inflation figures mainly covered Mogadishu. SNBS now publishes a national index.
• Differing 2024 figures: as a result, 2024 inflation appears as 3.3% (Central Bank, World Bank Economic Update) in some sources and 5.5% (Mogadishu only) in others.
• 2026 rise: monthly inflation rose to 8.4% in May 2026. The World Bank's May 2026 Somalia Economic Update projected about 6% for 2026 as a whole (its April outlook said 5.3%).

Remittances. Two measures are often confused.

• IMF balance of payments: remittances were US$2.10 billion in 2023, about US$2.41 billion in 2024 (19.8% of GDP) and a projected US$2.49 billion in 2025.
• Central Bank "secondary income": this includes aid as well as remittances, so it is larger: US$5.09 billion gross in 2025, or US$3.61 billion net (27% of GDP).

Consumption above 100% of GDP.

• The figure: households spend more than the country produces: 123% of GDP in 2025.
• How it is paid for: income from abroad, mainly remittances and aid, makes this possible. Gross national disposable income was US$17.3 billion, against GDP of US$13.2 billion (SNBS).

Trade.

• Imports: goods imports were US$7.30 billion in 2025.
• Exports: goods exports were US$1.26 billion. Livestock exports fell about 3% to US$923 million and made up about 73% of goods exports.
• National accounts basis: including services, net exports were –US$7.2 billion, or –54% of GDP (SNBS).

Investment.

• World Bank: FDI was US$765 million in 2024.
• Central Bank: it reports US$880 million for 2025.
• IMF: its estimate is lower (US$693 million for 2024).

Jobs.

• Modelled estimates: the ILO's modelled estimates put unemployment at 18.9% and youth unemployment at 34.2% in 2025.
• Survey figures: the most recent national labour force survey, in 2019, found 21.4% unemployment and 37.4% among young people. It used a "relaxed" definition that counts people without work who are available to work, even if not actively looking.

Debt and revenue.

• Debt: after debt relief under the HIPC Initiative, public debt is under 10% of GDP (IMF).
• Revenue: the government collects only about 3% of GDP in domestic revenue. Grants roughly double total revenue.

Exchange rate and payments.

• Exchange rate: the Central Bank reports an average of SOS 30,103 per US dollar in 2025, 7.1% weaker than in 2024, and SOS 31,956 in the first quarter of 2026.
• Payments: the Central Bank's 2026 survey found 87% of adults use mobile money, and only 19% hold a bank account (see The new Somali shilling).

Electricity.

• Access: the World Bank's access indicator was 54.4% in 2024.
• Reliability: according to the World Bank's 2026 Somalia Economic Update, 71% of households report access to electricity, but only 21% get more than eight hours of supply a day.

How members can use this page

• Business plans and grant applications: cite the linked sources, not this page's rounded figures.
• Updates: check the "last checked" date. Figures change with each SNBS, Central Bank and IMF release.
• Local knowledge: members with better local figures, such as prices or wages in their town, can share them through Xidig.

What is confirmed, and what isn't

Confirmed

• SNBS revised GDP figures (June 2026) and monthly CPI to July 2026.
• Central Bank 2025 figures for inflation, trade, FDI and the exchange rate.
• IMF remittance, debt and revenue figures (2025 reviews).

Our interpretation

• Consumption above GDP reflects income from remittances and aid.

Not yet verified

• The population: no recent census.
• 2026 forecasts, which predate the SNBS revision.
• The August 2026 CPI, not yet published at the time of checking.

Related reports

• The new Somali shilling: what's changing, and when
• Somalia's Bankable Projects 2026–2030, explained
• Skills map: which professional skills the 37 proposals would need
• Digital learning, adult literacy and TVET in Somalia
• Remittances to Somalia: what the numbers mean