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Somalia Economic Statistics (2026)

2011

2026

2031

Source: IMF World Economic Outlook · Updated May 2026

2011

2026

2031

What to know

Somalia produces $1,956 per person (PPP) in 2026, below the global average. The economy is worth about $14 billion in total. Over the past five years it has grown at about 3.4% a year. Inflation is 5.9%. Its current account is in deficit, at 8.7% of GDP.

Key statistics for 2026

GDP per capita (PPP)

$1,956

GDP growth

+2.6%

Inflation rate

5.9%

Key terms

GDP: — Gross Domestic Product, the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity, reflecting what money actually buys in each country.
GDP per capita: — GDP divided by population, a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

Output & Growth

Total GDP is $14 billion, with steady growth of 2.6% in 2026.

Living Standards

GDP per capita is $813 in nominal terms, but $1,956 when adjusted for local purchasing power, indicating lower prices than in the US.

Prices & Employment

Inflation is 5.9% in 2026.

Government Finances

External & Fiscal Balance

The country is running a fiscal deficit of 0.6% of GDP and a current-account deficit of 8.7% of GDP.

The bottom line

Somalia is a lower-income economy with GDP per capita (PPP) of $1,956. High inflation (5.9%) is a challenge.

Source: IMF World Economic Outlook · Updated May 2026

What to know

Somalia produces $1,956 per person (PPP) in 2026, below the global average. The economy is worth about $14 billion in total. Over the past five years it has grown at about 3.4% a year. Inflation is 5.9%. Its current account is in deficit, at 8.7% of GDP.

Key statistics for 2026

GDP per capita (PPP)

$1,956

GDP growth

+2.6%

Inflation rate

5.9%

Key terms

GDP: — Gross Domestic Product, the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity, reflecting what money actually buys in each country.
GDP per capita: — GDP divided by population, a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

The bottom line

Somalia is a lower-income economy with GDP per capita (PPP) of $1,956. High inflation (5.9%) is a challenge.

Ethiopia

Kenya

Djibouti

What to know

Key statistics for 2026

The bottom line

Ethiopia

Kenya

Djibouti

What to know

Key statistics for 2026

The bottom line