Somalia recorded a trade deficit of 1942.90 USD Million in 2019.

Balance of Trade in Somalia averaged -991.99 USD Million from 1998 until 2019, reaching an all time high of -101.76 USD Million in 2003 and a record low of -2971.89 USD Million in 2017. This page provides - Somalia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Somalia Balance of Trade - values, historical data and charts - was last updated on September of 2020.

Balance of Trade in Somalia is expected to reach -2278.00 USD Million by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Somalia Balance of Trade is projected to trend around -2278.00 USD Million in 2021 and -2247.00 USD Million in 2022, according to our econometric models.

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Somalia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1942.90 -2935.92 -101.76 -2971.89 1998 - 2019 USD Million Yearly

Somalia Trade Last Previous Highest Lowest Unit
Balance of Trade -1942.90 -2935.92 -101.76 -2971.89 USD Million [+]
Exports 195.42 488.23 690.82 45.29 USD Million [+]
Imports 2138.32 3424.15 3424.15 162.71 USD Million [+]
Terrorism Index 7.80 8.02 8.02 3.14 [+]

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.