Real gdp growth in Somalia
Somalia: Real gdp growth was 4.1 in 2024. ◆ Volatile
Latest (2024)
4.1
Change on year
down 2.8%
World rank
70th
of 196 countries
All-time high
9.5
in 2017
All-time low
-2.75
in 2020
Years of data
13
2012–2024
Real gdp growth in Somalia, 2012–2024
Source: Our World in Data.
Analysis
In 2024, real gdp growth in Somalia stood at 4.1.
Compared with earlier readings it is down 2.8% on the previous year and up 49.3% over ten years.
Over the whole period, real gdp growth in Somalia peaked at 9.5 in 2017 and was at its lowest, -2.75, in 2020.
Somalia ranks 70th of 196 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Real gdp growth in Somalia, year by year
| Year | Value | Change |
|---|---|---|
| 2012 | 1.2 | — |
| 2013 | 5.66 | +371.3% |
| 2014 | 2.75 | -51.4% |
| 2015 | 4.59 | +67.1% |
| 2016 | -1.27 | -127.8% |
| 2017 | 9.5 | -845.1% |
| 2018 | 1.4 | -85.3% |
| 2019 | 2.82 | +101.7% |
| 2020 | -2.75 | -197.5% |
| 2021 | 3.46 | -225.7% |
| 2022 | 2.73 | -21.1% |
| 2023 | 4.22 | +54.6% |
| 2024 | 4.1 | -2.8% |
Somalia compared with similar countries
- Somalia's 4.1 is below the median for low income countries, which is 4.56, 90% of the median. (24 countries reporting)
- Somalia's 4.1 is below the median for Sub-Saharan Africa, which is 4.52, 91% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.33 | -1.27 | 9.5 | 8 |
| 2020s | 2.35 | -2.75 | 4.22 | 5 |
Countries ranked near Somalia
More economy & growth data for Somalia
- Real gdp growth, annual growth rate -2.75 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate 25.66 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0238 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 15.71 units per person (2025)
- SDRs holdings, SDR, annual growth rate 19.66 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0174 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 11.47 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
Frequently asked questions
- What is real gdp growth in Somalia?
- Real gdp growth in Somalia was 4.1 in 2024, according to Our World in Data.
- What is the highest real gdp growth recorded in Somalia?
- The highest recorded value was 9.5 in 2017.
- What is the lowest real gdp growth recorded in Somalia?
- The lowest recorded value was -2.75 in 2020.
- How does Somalia rank for real gdp growth?
- Somalia ranks 70th out of 196 countries with data for 2024.
- Is real gdp growth rising or falling in Somalia?
- Over the last ten years it is up 49.3%. The long-run trend across the full record is volatile.
- Where does this Somalia data come from?
- The figures come from Our World in Data, published as part of Real gdp growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 13 observations, free to reuse under CC BY 4.0 (Our World in Data).