Trade Trend

In 2023, Somalia's total export value is 117.47Million USD, total import value is 3.10Billion USD, Deficit is -2.98Billion USD, and foreign trade dependency is 0.276. In 2023，Somalia's top export products are Fish, dried, salted or in brine; smoked fish, whether or not cooked before, or during the smoking process(20.73Million USD), Cartons, boxes, cases, bags and the like, of paper, paperboard, cellulose wadding or fibres; box files, letter trays and the like, of paper or paperboard, of a kind used in offices, shops or the like(14.07Million USD), Ferrous waste and scrap; remelting scrap ingots of iron or steel(11.10Million USD), top export destinations are India(28.92Million USD), Macao CN(19.89Million USD), France(17.28Million USD). In 2023, Somalia's top import products are Cane or beet sugar and chemically pure sucrose, in solid form(390.88Million USD), Rice(221.27Million USD), Pasta; whether or not cooked or stuffed with meat or other substance, or otherwise prepared, egg spaghetti, macaroni, noodles, lasagne, gnocchi, ravioli, cannelloni; couscous, whether or not prepared(143.15Million USD), top import origins are China(1.01Billion USD), India(776.42Million USD), Turkey(425.52Million USD).

Comparing to 2022, Somalia's total export value decreased -193.31Million USD(-62.20%) in 2023, this could result from its export decreases of products such as Sheep and goats; live(-152.13Million USD or -95.57%), Bovine animals; live(-35.54Million USD or -97.77%), Lac; natural gums, resins, gumresins and oleoresins (for example, balsams)(-22.87Million USD or -68.26%) and export decreases to countries/economics such as Bulgaria(-18.83Million USD or -94.89%), Germany(-8.37Million USD or -80.21%), Turkey(-1.65Million USD or -61.71%). Comparing to 2022, Somalia's total import value decreased -637.60Million USD(-17.06%) in 2023, this could result from its import decreases of products such as Vegetables; n.e.c. in chapter 07, fresh or chilled(-188.14Million USD or -99.97%), Milk and cream; concentrated or containing added sugar or other sweetening matter(-66.89Million USD or -77.02%), Wheat and meslin(-42.32Million USD or -99.59%), and its import decreases from countries/economies such as India(-132.55Million USD or -14.58%), Kenya(-102.44Million USD or -79.15%), United States(-32.03Million USD or -37.64%).