Somalia Economy 7-3-24

Somalia is a heavily subsidized, pirate and terrorist infested failed State. 

Nominal GDP $16B, Per capita GDP $430, Population 18,143,378, Debt to GDP 6.0%, Inflation 17.1%, Unemployment 19%, Labor force 3.9M, Land area 246,200 sq miles, on the eastern coast of Africa on the Arabian Sea. Imports $8.18B, Exports $1.80B, Trade Deficit 6.38B,

HPIC aid $4.5B from World Bank debt relief, US aid $755M.

Overview. Somalia's agricultural sector is the backbone of the economy, contributing to over 70 percent of total GDP, 80 percent of its employment, and about 50 percent of its exports. The country has over 8.9M hectares of arable land. The country also has two major rivers stretching over 2,500KM.

Maize, sorghum, rice, and cowpea are the most important staple foods for Somalis.

Somalia main exports are: livestock, bananas, skins, fish, charcoal and scrap metal. Main export partners are: the United Arab Emirates, Yemen and Oman.

Most food imports come from countries such as UAE and Turkey because there are limited agricultural processors locally. Agricultural imports stood at $1.19 billion in 2021 and include: wheat, rice, sugar, tomato, juices, and tobacco. Jan 22, 2024

Curriculum- the primary school curriculum in Somalia emphasizes nine compulsory subjects including Arabic, Islamic studies, Somali, mathematics (including business education), science (health, environmental education, and agriculture), social studies (including history, geography, and civics), English, physical ed. Literacy is 41%.

The Republic of Somalia was formed in 1960 by the federation of a former Italian colony and a British protectorate. Mohamed Siad Barre (Maxamed Siyaad Barre) held dictatorial rule over the country from October 1969 until January 1991, when he was overthrown in a bloody civil war waged by clan-based guerrillas.

By 2012, Somali powerbrokers agreed on a provisional constitution with a loose federal structure and established a central government in Mogadishu termed the Somali Federal Government (SFG). Since then, several interim regional administrations have been established and there have been three presidential elections.

Pirates were active in 2017 and returned in 2023 targeting merchant vessels.

Killings: UNSOM reported 312 civilians were killed by al-Shabaab between February and October. The group committed religiously and politically motivated killings that targeted civilians affiliated with the government and attacked humanitarian NGO employees, UN staff, and diplomatic missions.

Somalia 2023. The conflict between the government and Al-Shabaab continued, and all parties committed serious abuses of international humanitarian and human rights law with impunity. Insecurity, drought, floods and food insecurity caused the displacement of over 2.9 million people and a dire humanitarian crisis.

Al-Shabaab retains control over 20% of the Somalia. Al-Shabaab is self-funded by racketeering and like ISIS is committed to establishing more radical Islamic states.

https://www.cfr.org/backgrounder/al-shabaab#chapter-title-0-6

Comments

This is similar to the ongoing conflict in Yemen. You have a Terrorist group waging a civil war that lasts for decades. It’s a money pit.

Norb Leahy, Dunwoody GA Tea Party Leader