The National Bureau of Statistics releases the 2024 GDP Report, revealing a 4.1% economic growth—driven by robust investment, strong household consumption & a vibrant services sector, reflecting Somalia’s resilience & growing investor confidence.
The value of gross domestic product in 2024 reached $1.9 billion, compared to $1.7 billion the previous year.
Agriculture and Fisheries each grew by 2.2%, while the livestock sector recorded a 0.8% increase.
International institutions such as the World Bank and the IMF have also predicted positive growth, estimating that Somalia’s GDP will reach 3.7% this year.
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