Somalia’s Developing Economy

Somalia’s population is just over 10 million and its population growth is 2.824%. The life expectancy is 50 years old. GDP per capita is very low at less than $600. 43% of Somalia’s population lives below the poverty line. The percentages of aid in gross capital formation is 345.7%, which is second in the world. Somalia’s dependency ratio per 100 people is 102. There are only 0.04 physicians per 1,000 people. The number of primary school girls out of school in Somalia is the highest among 99 countries.

Somalia does neither imports nor exports electricity. Somalia’s exports are livestock, bananas, hides, fish, charcoal, scrap metal. 65% of Somalia’s exports are agriculture and industry only holds 10%. The economic activity of both sexed aged 10-14 is 31.3% and for 65 plus is 50.16%, which represents a small ratio.


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