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Somalia's economy consists of both traditional and modern production, with a gradual shift to more modern industrial techniques. According to the Central Bank of Somalia, about 80% of the population are nomadic or semi-nomadic pastoralists, who keep goats, sheep, camels and cattle. The nomads also gather resins and gums to supplement their ...
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. [2]
Two economic trends from this period were noteworthy: increasing debt and the collapse of the small industrial sector. [1] During the 1970s, foreign debt increased faster than export earnings. By the end of the decade, Somalia's debt of 4 billion shillings equaled the earnings from seventy-five years' worth of banana exports (based on 1978 data).
Country GDP (PPP) per capita (2022, 2022 US$) [1] [failed verification] Algeria 13,715 Angola 7,360 Benin 3,767 Botswana 19,287 Burkina Faso 2,461 Burundi 791 Cape Verde
For the purpose of the data published by the International Monetary Fund, the GDP (PPP) of Zanzibar is included as part of that of Tanzania, the GDP (PPP) of Western Sahara is included as part of that of Morocco, and the GDP (PPP) of Somaliland is included as part of that of Somalia.
Somalia has the longest coastline on Africa's mainland. [17] Somalia has an estimated population of 18.1 million, [18] [19] [20] of which 2.7 million live in the capital and largest city, Mogadishu. Around 85% of Somalia's residents are ethnic Somalis; the official languages of the country are Somali and Arabic, though Somali is the primary ...
Agriculture in Somalia (Somali: Beeraha Soomaaliya) is the largest economic sector in Somalia and the country's major source of employment. It contributes more than 65% to the national GDP from domestic distribution and exports to other parts of the continent, the Middle East and Europe .
The Economy of East Africa is characterized by diverse sectors, with agriculture playing a pivotal role, employing the majority of the population and contributing significantly to GDP. Key crops include coffee, tea, and horticultural products. East Africa is the fastest growing region in Africa. [4]