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Somalia's GDP growth in 2024
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Somalia's GDP growth in 2024

Published by Xogsawir, a Jaantus project. 1 October 2025.

Somalia's economy grew 4.1 percent in 2024, driven primarily by household spending (which contributed 11 percentage points to growth), exports (10.2 points), and investment (5.5 points). However, this expansion was heavily offset by imports, which subtracted 23.8 percentage points, leaving net trade as a massive drag on output. The data illustrates an economy fueled by remittance-backed household demand rather than domestic production, where a large share of every shilling spent flows directly abroad to pay for imported fuel, food, and capital goods.

Sources

  1. Somalia National Bureau of Statistics Somalia GDP 2024 release. Accessed 1 October 2025.

Notes

GDP figures use 2022 base-year prices following the NBS rebasing. The rebase incorporated new data sources including the 2022 Somalia Integrated Household Budget Survey. Component contributions are shown in percentage points of overall growth.

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