Goods and services expense in Somalia
Somalia: Goods and services expense was 5.75 trillion current LCU in 2024. ▲ Rising
Goods and services expense in Somalia, 2017–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, goods and services expense in Somalia stood at 5.75 trillion current LCU. That is the highest value across all 8 years on record.
That represents a change of up 52.8% on the previous year and up 189.2% over ten years.
Somalia ranks 12th of 155 countries on this measure, in the top 10%.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2.10 trillion current LCU | 1.99 trillion current LCU | 2.32 trillion current LCU | 3 |
| 2020s | 3.62 trillion current LCU | 2.07 trillion current LCU | 5.75 trillion current LCU | 5 |
Countries ranked near Somalia
More public sector data for Somalia
- Arms imports 4.00 million SIPRI trend indicator values (2024)
- Tax revenue 2.2% (2024)
- Taxes on income, profits and capital gains 4.0% (2024)
- Taxes on goods and services 5.8% (2024)
- Net investment in nonfinancial assets 0.2% (2024)
- Net lending (+) / net borrowing (-) 0.2% (2024)
- Interest payments 0.6% (2024)
- Grants and other revenue 70.6% (2024)
- Other taxes 1.1% (2024)
- Compensation of employees 42.0% (2023)
Frequently asked questions
- What is goods and services expense in Somalia?
- Goods and services expense in Somalia was 5.75 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in Somalia?
- The highest recorded value was 5.75 trillion current LCU in 2024.
- What is the lowest goods and services expense recorded in Somalia?
- The lowest recorded value was 1.99 trillion current LCU in 2017.
- How does Somalia rank for goods and services expense?
- Somalia ranks 12th out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in Somalia?
- Over the last ten years it is up 189.2%. The long-run trend across the full record is rising.
- Where does this Somalia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Goods and services expense (current LCU). Statizoid updates them automatically from the source API.
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About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.