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

 201420152016
GDP (in billions of USD)5.655.936.22
GDP per capita (USD)418426434
Growth rate3.72.73.7
Unemployment rate6.16.16
Inflation rate-4-5.6-3.6
Public debt (% of GDP)Not availableNot availableNot available
Budget balance (% of GDP)Not availableNot availableNot available
Current account balance (% of GDP)Not availableNot availableNot 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