Somalia recorded a trade deficit of 2852.50 USD Million in 2018. Balance of Trade in Somalia averaged -945.11 USD Million from 1998 until 2018, reaching an all time high of -101.76 USD Million in 2003 and a record low of -2938.60 USD Million in 2017.

Balance of Trade in Somalia is expected to be -2202.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Somalia Balance of Trade is projected to trend around -2247.00 USD Million in 2020, according to our econometric models.

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Somalia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-2852.50 -2938.60 -101.76 -2938.60 1998 - 2018 USD Million Yearly

Somalia Balance of Trade
Somalia’s systemic trade deficit is the result of the country’s dependency on imports of food, fuel, construction materials and manufactured goods. Main exports are: livestock, bananas, skins, fish, charcoal and scrap metal. Somalia main trading partners are the United Arab Emirates, Yemen and Oman.

Somalia Trade Last Previous Highest Lowest Unit
Balance of Trade -2852.50 -2938.60 -101.76 -2938.60 USD Million [+]
Imports 3197.73 3334.37 3334.37 162.71 USD Million [+]
Exports 345.20 395.77 691.27 45.29 USD Million [+]
Terrorism Index 7.80 8.02 8.02 3.14 [+]