Qurac&qansax

Top Somali Export Import 2020 By OECD

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The top exports of Somalia are Gold ($111M), Sheep and Goats ($35M), Insect Resins ($25.8M), Other Animals ($21.1M), and Other Oily Seeds ($21.1M), exporting mostly to United Arab Emirates ($146M), Saudi Arabia ($39.2M), Japan ($16.5M), Bulgaria ($11.7M), and China ($7.68M)

The top imports of Somalia are Rolled Tobacco ($577M), Raw Sugar ($262M), Other Vegetables ($248M), Rice ($206M), and Broadcasting Equipment ($150M), importing mostly from United Arab Emirates ($1.28B), China ($893M), India ($544M), Ethiopia ($294M), and Turkey ($264M)

 

We export $276M and import 4.2 B..... Huge trade deficit.

 

OEC.WORLD

Find the latest trade statistics and economic complexity data for Somalia.

 

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i was supprised our most export is Gold....from where we export....Gold export contributes half of our export revenue and no one knows, where, which state or city or company export gold from somalia.....this proves there is a lot the average person does not know....our resources is been debellated without our knowledge

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7 minutes ago, Qurac&qansax said:

i was supprised our most export is Gold....from where we export....Gold export contributes half of our export revenue and no one knows, where, which state or city or company export gold from somalia.....this proves there is a lot the average person does not know....our resources is been debellated without our knowledge

Most of it is from Sanaag region

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The top imports of Somalia are Rolled Tobacco ($577M

Big idea to do local cigarettes company, and plant tobacco locally 

90% of business for tobacco companies are now third world countries,  where not many awareness,  taxation about health issues 

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Broadcasting Equipment ($150M), 

What is this for 😮?

Social media, tiktok?

  • That is really sad! 1

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Abdi90   

Let me decode this.

From what i know somali ladies who sell gold import allot from UAE so there is no way we export that much as a gold-importing nation,  with that im almost sure in this case it is USD-cash that is ticked/checked off as gold in declaration-form and the biggest evidence is (Rolled Tobacco ($577M) which is evidently used for declaring khat import becouse we know we spend the highest amounts on khat import. So this also means they are using standard declaration-form made in other country which doesnt have the option "khat" or "cash" (in suitcase) so they have to improvise and tick/check off "Gold" for cash and "Tobacco" for khat

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