Somalia
Somalia, in long form the Federal Republic of Somalia, is a country located at the eastern end of the Horn of Africa. An important trading site in antiquity, the country is among the most likely sites of the land of Pount.
General presentation
Official name: Federal Republic of Somalia
Type of government: presidential, federal
Area: 637,657 square kilometers
Capital: Mogadishu
Main cities: Mogadishu, Hargeisa, Bossasso
Official language(s): Somali
National holiday: July 1
Population (2016): 11.1 million (UN Data)
Density (2016): 17.7 inhabitants/km2 (UN Data)
Population growth (2016): 2.9% per year
Literacy rate: n.a.
Source: Ministry of Europe and Foreign Affairs
Economic situation
Somalia’s economy is largely informal and depends heavily on international aid, mainly humanitarian aid. The country also benefits from remittances from the Somali diaspora, estimated at $1 billion per year. Economic activity is essentially based on the agricultural sector and services (telecommunications, Islamic finance). Work is underway to rebuild the infrastructure destroyed during the civil war, mainly in the capital Mogadishu. The economy is still marked by high inflation, and the budget is financed almost exclusively by international aid paid to the government and by the few revenues collected at the port of Mogadishu.
Source : diplomatie.gouv
Bilateral Relations
Bilateral investment treaties
Work in process
Double taxation agreements
Work in process
Free trade agreements
Work in process
Leading sector for Swiss companies
Work in process
Indicators
| 2014 | 2015 | 2016 | |
|---|---|---|---|
| GDP (in billions of USD) | 5.65 | 5.93 | 6.22 |
| GDP per capita (USD) | 418 | 426 | 434 |
| Growth rate | 3.7 | 2.7 | 3.7 |
| Unemployment rate | 6.1 | 6.1 | 6 |
| Inflation rate | -4 | -5.6 | -3.6 |
| Public debt (% of GDP) | Not available | Not available | Not available |
| Budget balance (% of GDP) | Not available | Not available | Not available |
| Current account balance (% of GDP) | Not available | Not available | Not available |
(Sources FMI, Banque Mondiale)
Main customers
UAE, Yemen and Oman
Source: IMF & World Bank
Main suppliers
Djibouti, Kenya, China, Turkey
Source : IMF & World Bank
Swiss exports to
Work in process
Exports of …. to Switzerland
Work in process
Swiss direct investment in
Work in process
The business climate
Work in process