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Somalia's trade deficit reaches a record
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Somalia's trade deficit reaches a record

Published by Xogsawir, a Jaantus project. 19 October 2025.

Somalia's trade deficit reached about $8.8 billion in 2024, the widest on record. Goods imports rose sharply, led by fuel, food, and capital goods, and lifted total imports to roughly twelve billion dollars. Service exports also grew, reaching record levels and lifting total exports above three billion, but the gain was outpaced by the import bill. The gap continues to be financed by remittances and grants rather than by trade earnings. The structure has been consistent for several years: rising service exports, faster-growing goods imports, and a current account that depends on private and donor transfers.

Sources

  1. Central Bank of Somalia Annual Statistical Bulletin, June 2025. Accessed 20 October 2025.

Notes

Goods and services flows are reported in US dollars on a balance of payments basis. The trade deficit equals total imports minus total exports. Capital and financial account flows, including remittances and grants, are excluded from this view.

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