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Somalia

Location: Eastern Africa, bordering the Gulf of Aden and the Indian Ocean, east of Ethiopia

Capital: Mogadishu

Languages: Somali (official), Arabic, Italian, English

Area: 637,657 sq km

Land Use: arable land: 1.67%; permanent crops: 0.04%; other: 98.29% (2001)

Natural Resources: uranium and largely unexploited reserves of iron ore, tin, gypsum, bauxite, copper, salt, natural gas, likely oil reserves

Population: 8,591,629 (July 2005 est.)

Population below poverty line: 50% (2004 est.)

Labour force: 3.7 million (very few are skilled labourers)

Labour force participation rate: 43.07% of population (very few are skilled labourers)

International Organisation participation: ACP, AFDB, AFESD, AMF, AU, CAEU, FAO, G-77, IBRD, ICAO, ICRM, IDA, IDB, IFAD, IFC, IFRCS, IGAD, ILO, IMF, IMO, Interpol, IOC, IOM (observer), ITU, LAS, NAM, OIC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WFTU, WHO, WIPO, WMO

GDP per capita: Approximated at U$600 (2004 est.)

GDP Real Growth Rate: Approximated at 2.8% (2004 est.)

GDP sectoral composition: Approximated at; agriculture: 65%; industry: 10%; services: 25% (2000 est.)

Investment (gross fixed): 17.8% of GDP (2004 est.)

Industries: a few light industries, including sugar refining, textiles, wireless communication

Agriculture - products: cattle, sheep, goats; bananas, sorghum, corn, coconuts, rice, sugarcane, mangoes, sesame seeds, beans; fish

Exports: U$ $79 million f.o.b. (2002 est.)

Exports - commodities: livestock, bananas, hides, fish, charcoal, scrap metal

Exports - partners: Thailand 31.3%, UAE 22.8%, Yemen 14.9%, India 8.5%, Oman 5.4%, China 4.1% (2004)

Imports: U$344 million f.o.b. (2002 est.)

Imports - commodities: manufactures, petroleum products, foodstuffs, construction materials, qat

Imports - partners: Djibouti 28.8%, Kenya 13.1%, India 9.3%, Brazil 5.4%, Oman 5.2%, UAE 5.1% (2004)

 

QUALITATIVE TRADE PROFILE

The Somali economyy is overwhelmingly agrarian. Subsistence farming is the primary agricultural activity and it supports over 60% of the population.

TRADE AGREEMENTS

Bilateral

Somalia is a beneficiary and EU 'Everything-but-Arms' initiative. Somalia's eligibility under the African Growth and Opportunity Act (AGOA) has not been determined.

Regional

Somalia is not a member of any regional trade organisations

Multilateral

Somalia is neither a member nor observer at the WTO.

 

Source: UNCTAD, World Fact Book