Somalia
On this page you will find beneficial information regarding foreign direct investment in / trading with Somalia. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Federal Parliamentary Republic
Population: 17.10 million (2021)
GDP: 7.628 billion USD (2021)
Corporate Tax Rate: 12.3%
Personal Income Tax Rate: 0%
Major Exports: Sheep and Goats ($201M), Gold ($94.9M), Bovine ($35M), Other Oily Seeds ($32.8M), and Insect Resins ($28.9M), exporting mostly to Oman ($180M), United Arab Emirates ($138M), Saudi Arabia ($45.2M), India ($15.3M), and Bulgaria ($10.5M).
Major Imports: Rolled Tobacco ($481M), Raw Sugar ($345M), Other Vegetables ($255M), Broadcasting Equipment ($220M), and Rice ($197M), importing mostly from United Arab Emirates ($1.53B), China ($1B), India ($699M), Ethiopia ($361M), and Turkey ($347M).
Investment Agency: Somalia Investment Promotion Office
Website: https://sominvest.gov.so/
