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Somalia Government - 2002 https://greekorthodoxchurch.org/wfb2002/somalia/somalia_government.html SOURCE: 2002 CIA WORLD FACTBOOK Economy - overview One of the world's poorest and least developed countries, Somalia has few resources and is prone to drought. Moreover, much of the economy has been devastated by civil war since 1991. Agriculture is the most important sector, with livestock accounting for about 40% of GDP and about 65% of export earnings. Nomads and semi-nomads, who are dependent upon livestock for their livelihood, make up a large portion of the population. Livestock, hides, charcoal, and bananas are Somalia's principal exports, while sugar, sorghum, corn, fish, qat, and machined goods are the principal imports. Somalia's small industrial sector, based on the processing of agricultural products, has largely been looted and sold as scrap metal. Despite the seeming anarchy, Somalia's service sector has managed to survive and grow. Telecommunication firms provide wireless services in most major cities and offer the lowest international call rates on the continent. In the absence of a formal banking sector, money exchange services have sprouted throughout the country, handling between $200 million and $500 million in remittances annually. Mogadishu's main market offers a variety of goods from food to the newest electronic gadgets. Hotels continue to operate, and security is provided by militias. Ongoing civil disturbances and clan rivalries, however, have interfered with any broad-based economic development and international aid arrangements. The failure of spring rains caused major food shortages in the south in 2001. Economic data is scare and prone to a wide margin of error. GDP purchasing power parity - $4.1 billion (2001 est.) GDP - real growth rate 3% (2001 est.) GDP - per capita purchasing power parity - $550 (2001 est.) GDP - composition by sector
Population below poverty line NA% Household income or consumption by percentage share
Inflation rate (consumer prices) over 100% (businesses print their own money) (2000 est.) Labor force 3.7 million (very few are skilled laborers) (1993 est.) Labor force - by occupation agriculture (mostly pastoral nomadism) 71%, industry and services 29% Unemployment rate NA% Budget
Industries a few light industries, including sugar refining, textiles, petroleum refining (mostly shut down), wireless communication Industrial production growth rate NA% Electricity - production 250 million kWh (2000) Electricity - production by source
Electricity - consumption 232.5 million kWh (2000) Electricity - exports 0 kWh (2000) Electricity - imports 0 kWh (2000) Agriculture - products cattle, sheep, goats; bananas, sorghum, corn, coconuts, rice, sugarcane, mangoes, sesame seeds, beans; fish Exports $186 million (f.o.b., 1999 est.) Exports - commodities livestock, bananas, hides, fish, charcoal, scrap metal (1999) Exports - partners Saudi Arabia 29%, UAE 29%, Yemen 28% (calculated through partners) (2000) Imports $314 million (f.o.b., 1999 est.) Imports - commodities manufactures, petroleum products, foodstuffs, construction materials, qat (1995) Imports - partners Djibouti 27%, Kenya 12%, India 9% (2000) Debt - external $2.6 billion (2000 est.) Economic aid - recipient $60 million (1999 est.) Currency Somali shilling (SOS) Currency code SOS Exchange rates
Somali shillings per US dollar - 11,000 (November 2000), 2,620 (January 1999), 7,500 (November 1997 est.), 7,000 (January 1996 est.), 5,000 (1 January 1995)
Fiscal year
NA
NOTE: The information regarding Somalia on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Somalia Government 2002 information contained here. All suggestions for corrections of any errors about Somalia Government 2002 should be addressed to the CIA. |