Gross Domestic Product — Value Standard Local Currency in Somalia
Somalia: Gross Domestic Product — Value Standard Local Currency was 303.90 million million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Somalia, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for gross domestic product — value standard local currency in Somalia is 303.90 million million SLC, measured in 2024. That is the highest value across all 55 years on record.
Compared with earlier readings it is up 14.0% on the previous year and up 158.6% over ten years.
Over the whole period, gross domestic product — value standard local currency in Somalia peaked at 303.90 million million SLC in 2024 and was at its lowest, 2,436 million SLC, in 1970.
Somalia ranks 15th of 218 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency in Somalia, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 2,436 million SLC | — |
| 1971 | 2,474 million SLC | +1.6% |
| 1972 | 3,126 million SLC | +26.4% |
| 1973 | 3,038 million SLC | -2.8% |
| 1974 | 3,604 million SLC | +18.6% |
| 1975 | 4,765 million SLC | +32.2% |
| 1976 | 5,485 million SLC | +15.1% |
| 1977 | 6,880 million SLC | +25.4% |
| 1978 | 8,175 million SLC | +18.8% |
| 1979 | 8,985 million SLC | +9.9% |
| 1980 | 17,341 million SLC | +93.0% |
| 1981 | 22,056 million SLC | +27.2% |
| 1982 | 29,111 million SLC | +32.0% |
| 1983 | 35,129 million SLC | +20.7% |
| 1984 | 62,253 million SLC | +77.2% |
| 1985 | 87,290 million SLC | +40.2% |
| 1986 | 118,781 million SLC | +36.1% |
| 1987 | 169,608 million SLC | +42.8% |
| 1988 | 287,538 million SLC | +69.5% |
| 1989 | 605,046 million SLC | +110.4% |
| 1990 | 1.96 million million SLC | +223.2% |
| 1991 | 2.73 million million SLC | +39.5% |
| 1992 | 3.12 million million SLC | +14.4% |
| 1993 | 5.02 million million SLC | +60.8% |
| 1994 | 6.43 million million SLC | +28.0% |
| 1995 | 8.79 million million SLC | +36.7% |
| 1996 | 12.34 million million SLC | +40.4% |
| 1997 | 16.68 million million SLC | +35.2% |
| 1998 | 21.68 million million SLC | +30.0% |
| 1999 | 26.61 million million SLC | +22.8% |
| 2000 | 32.67 million million SLC | +22.8% |
| 2001 | 37.87 million million SLC | +15.9% |
| 2002 | 43.91 million million SLC | +15.9% |
| 2003 | 50.23 million million SLC | +14.4% |
| 2004 | 57.45 million million SLC | +14.4% |
| 2005 | 71.43 million million SLC | +24.3% |
| 2006 | 70.83 million million SLC | -0.8% |
| 2007 | 78.23 million million SLC | +10.4% |
| 2008 | 85.19 million million SLC | +8.9% |
| 2009 | 93.05 million million SLC | +9.2% |
| 2010 | 84.05 million million SLC | -9.7% |
| 2011 | 87.08 million million SLC | +3.6% |
| 2012 | 91.00 million million SLC | +4.5% |
| 2013 | 94.88 million million SLC | +4.3% |
| 2014 | 117.49 million million SLC | +23.8% |
| 2015 | 147.49 million million SLC | +25.5% |
| 2016 | 170.45 million million SLC | +15.6% |
| 2017 | 190.60 million million SLC | +11.8% |
| 2018 | 191.31 million million SLC | +0.4% |
| 2019 | 210.32 million million SLC | +9.9% |
| 2020 | 209.66 million million SLC | -0.3% |
| 2021 | 230.46 million million SLC | +9.9% |
| 2022 | 247.93 million million SLC | +7.6% |
| 2023 | 266.55 million million SLC | +7.5% |
| 2024 | 303.90 million million SLC | +14.0% |
Somalia compared with similar countries
- Somalia's 303.90 million million SLC is above the median for low income countries, which is 11.93 million million SLC, 25.5× the median. (23 countries reporting)
- Somalia's 303.90 million million SLC is above the median for Sub-Saharan Africa, which is 8.81 million million SLC, 34.5× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency in Somalia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1990 | +223.2% | 605,046 million SLC | 1.96 million million SLC |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4,897 million SLC | 2,436 million SLC | 8,985 million SLC | 10 |
| 1980s | 143,415 million SLC | 17,341 million SLC | 605,046 million SLC | 10 |
| 1990s | 10.53 million million SLC | 1.96 million million SLC | 26.61 million million SLC | 10 |
| 2000s | 62.09 million million SLC | 32.67 million million SLC | 93.05 million million SLC | 10 |
| 2010s | 138.47 million million SLC | 84.05 million million SLC | 210.32 million million SLC | 10 |
| 2020s | 251.70 million million SLC | 209.66 million million SLC | 303.90 million million SLC | 5 |
Countries ranked near Somalia
- 12 Lao People's Democratic Republic 315.28 million million SLC compare
- 13 Iraq 313.04 million million SLC compare
- 14 Chile 311.64 million million SLC compare
- 16 Nigeria 277.49 million million SLC compare
- 17 Syrian Arab Republic 239.96 million million SLC compare
- 18 Guinea 222.10 million million SLC compare
More economy & growth data for Somalia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.52 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.5 Percent per annum (2029)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 765.00 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 13.08 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0639 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 40.24 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -0.3355 % change on previous year (1989)
- Total reserves (includes gold, current US$), per unit of GDP 0.0196 includes gold, current US$ per US$ of GDP (1989)
- Total reserves (includes gold, current US$), per capita 3.25 includes gold, current US$ per person (1989)
- Total reserves minus gold (current US$), annual growth rate 0.6536 % change on previous year (1989)
Frequently asked questions
- What is gross domestic product — value standard local currency in Somalia?
- Gross domestic product — value standard local currency in Somalia was 303.90 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency recorded in Somalia?
- The highest recorded value was 303.90 million million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency recorded in Somalia?
- The lowest recorded value was 2,436 million SLC in 1970.
- How does Somalia rank for gross domestic product — value standard local currency?
- Somalia ranks 15th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Somalia?
- Over the last ten years it is up 158.6%. The long-run trend across the full record is volatile.
- Where does this Somalia data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).