Tax revenue in Somalia
Somalia: Tax revenue was 7.53 trillion current LCU in 2024. ▲ Rising
Tax revenue in Somalia, 2017–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, tax revenue in Somalia stood at 7.53 trillion current LCU. That is the highest value across all 8 years on record.
Compared with earlier readings it is up 22.2% on the previous year and up 128.8% over ten years.
Somalia ranks 24th of 157 countries on this measure, in the top quarter.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.98 trillion current LCU | 3.29 trillion current LCU | 4.34 trillion current LCU | 3 |
| 2020s | 5.28 trillion current LCU | 3.60 trillion current LCU | 7.53 trillion current LCU | 5 |
Countries ranked near Somalia
- 21 Madagascar 8.71 trillion current LCU compare
- 22 Angola 7.89 trillion current LCU compare
- 23 Turkey 7.86 trillion current LCU compare
- 25 Myanmar 6.78 trillion current LCU compare
- 26 Costa Rica 6.71 trillion current LCU compare
- 27 Cote d'Ivoire 6.39 trillion current LCU compare
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 tax revenue in Somalia?
- Tax revenue in Somalia was 7.53 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Somalia?
- The highest recorded value was 7.53 trillion current LCU in 2024.
- What is the lowest tax revenue recorded in Somalia?
- The lowest recorded value was 3.29 trillion current LCU in 2017.
- How does Somalia rank for tax revenue?
- Somalia ranks 24th out of 157 countries with data for 2024.
- Is tax revenue rising or falling in Somalia?
- Over the last ten years it is up 128.8%. 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 Tax revenue (current LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. 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.