Somalia: Technical Assistance Report-National Accounts Statistics Mission
IMF Staff Country Reports, November 9, 2023
Source details
- Canonical URL
- Somalia: Technical Assistance Report-National Accounts Statistics Mission
Other formats
Bibliographic details
- Published: November 9, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400255809.002
Mission objective and scope
- Purpose: provide technical assistance to the Somalia National Bureau of Statistics (SNBS) in conducting a comprehensive gross domestic product (GDP) revision to incorporate latest source data and methods and to update the base year from 2017 to 2022.
- Output: assisted SNBS to produce updated annual GDP time series up to 2022.
- Focus areas: incorporation of new data sources and updating the base year for constant prices from 2017 to 2022.
Key findings about national accounts and data quality
- The GDP compilation system makes good use of the limited available data, but the foundation for the national accounts remains weak.
- There is a continuing need to improve source data to increase the completeness and reliability of Somalia’s national accounts statistics.
Data updates and methodological changes
- Base year for constant price GDP: updated from 2017 to 2022.
- New data sources: incorporated into the national accounts compilation and used in producing the updated annual GDP time series up to 2022.
Planned surveys and expected improvements
- Business Census: SNBS will conduct a Business Census in respect of 2023, with implementation gearing up at the end of 2023.
- Population Census: SNBS plans to conduct the first Population Census since 1985; if designed to provide measures of the informal sector, it will especially support improvements in national accounts completeness.
Recommendations and action planning
- The mission recommended a detailed action plan to support progress toward objectives.
- Priority recommendations were identified to carry particular weight in making headway in improving the completeness of Somalia’s national accounts statistics.
International Monetary Fund. "Somalia: Technical Assistance Report-National Accounts Statistics Mission", November 9, 2023.
Content in this bundle
- Section I. Detailed Technical Assessment and Recommendations