IMF Staff Country Reports

Somalia: Technical Assistance Report-National Accounts Statistics Mission

Publication Date:

November 9, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

A technical assistance mission to the National Bureau of Statistics of Somalia (SNBS) supported work to conduct a comprehensive revisions exercise on estimates of Gross Domestic Product (GDP) by expenditure; rebase GDP from base year 2017 to 2022; and extend the GDP time series to 2022. It did so by processing and incorporating new data, most notably the 2022 Somalia Integrated Household Budget Survey (SIHBS), a key new source which is also being used to update consumer price index (CPI) weights. The SIHBS results underpin an upward revision to GDP levels, resulting from higher values of household consumption, particularly of nonfood items. These improvements to data and methods will improve the understanding of the Somalia economy, both for domestic policymaking and international surveillance.

Series:

Country Report No. 2023/364

Subject:

Consumption Household consumption Imports International organization International trade Monetary policy National accounts Population and demographics

Frequency:

regular