ontinent. In the absence of a
formal banking sector, money exchange services have sprouted
throughout the country, handling between $500 million and $1 billion
in remittances annually. Mogadishu's main market offers a variety of
goods from food to the newest electronic gadgets. The SCIC has
opened Mogadishu's main port and airport - closed for 15 years - and
now controls most of the ports and airfields in southern Somalia.
Hotels continue to operate, and militias provide security. The
ongoing civil disturbances and clan rivalries, however, have
interfered with any broad-based economic development and
international aid arrangements. Somalia's arrears to the IMF
continued to grow in 2006. Statistics on Somalia's GDP, growth, per
capita income, and inflation should be viewed skeptically. In late
December 2004, a major tsunami caused an estimated 150 deaths and
resulted in destruction of property in coastal areas.

GDP (purchasing power parity):
$5.023 billion (2006 est.)

GDP (official exchange rate):
$2.483 billion (2006 est.)

GDP - real growth rate:
2.6% (2006 est.)

GDP - per capita (PPP):
$600 (2006 est.)

GDP - composition by sector:
agriculture: 65%
industry: 10%
services: 25% (2000 est.)

Labor force:
3.7 million (very few skilled laborers)

Labor force - by occupation:
agriculture: 71%
industry and services: 29%

Unemployment rate:
NA%

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
NA%; note - businesses print their own money, so inflation rates
cannot be easily determined

Budget:
revenues: $NA
expenditures: $NA

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

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

Industrial production growth rate:
NA%

Electricity - production:
269 million kWh (2004)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Electricity - consumption:
250.2 million kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
5,000 bbl/day (2004 est.)

Oil - exports:
NA bbl/day