Domestic credit to private sector in Somalia
Somalia: Domestic credit to private sector was 5.4% in 2024. ◆ Volatile
Domestic credit to private sector in Somalia, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for domestic credit to private sector in Somalia is 5.4%, measured in 2024.
The figure is up 7.1% on the previous year and up 131.2% over ten years.
Over the whole period, domestic credit to private sector in Somalia peaked at 25.4% in 1974 and was at its lowest, 2.3%, in 2018.
That places Somalia 183rd out of 187 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Domestic credit to private sector in Somalia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 2.4% | — |
| 1961 | 3.1% | +26.7% |
| 1962 | 4.9% | +60.3% |
| 1963 | 5.5% | +12.3% |
| 1964 | 8.8% | +58.4% |
| 1965 | 10.0% | +13.7% |
| 1966 | 9.6% | -3.8% |
| 1967 | 9.6% | -0.2% |
| 1968 | 10.4% | +8.4% |
| 1969 | 10.9% | +5.3% |
| 1970 | 12.2% | +11.9% |
| 1971 | 10.3% | -16.0% |
| 1972 | 10.1% | -1.7% |
| 1973 | 20.5% | +103.3% |
| 1974 | 25.4% | +23.9% |
| 1975 | 10.8% | -57.5% |
| 1976 | 6.3% | -41.7% |
| 1977 | 5.5% | -13.5% |
| 1978 | 4.9% | -9.8% |
| 1979 | 5.0% | +1.7% |
| 1980 | 2.5% | -50.9% |
| 1981 | 2.6% | +6.0% |
| 1982 | 5.6% | +114.1% |
| 1983 | 6.5% | +17.0% |
| 1984 | 6.0% | -8.3% |
| 1985 | 4.6% | -23.0% |
| 1986 | 3.4% | -25.2% |
| 1987 | 11.0% | +218.3% |
| 1988 | 10.3% | -6.1% |
| 1989 | 14.8% | +44.0% |
| 2018 | 2.3% | -84.2% |
| 2019 | 2.4% | +2.5% |
| 2020 | 2.6% | +8.6% |
| 2021 | 3.4% | +30.1% |
| 2022 | 3.9% | +15.0% |
| 2023 | 5.1% | +29.7% |
| 2024 | 5.4% | +7.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.5% | 2.4% | 10.9% | 10 |
| 1970s | 11.1% | 4.9% | 25.4% | 10 |
| 1980s | 6.7% | 2.5% | 14.8% | 10 |
| 2010s | 2.4% | 2.3% | 2.4% | 2 |
| 2020s | 4.1% | 2.6% | 5.4% | 5 |
Countries ranked near Somalia
More financial sector data for Somalia
- Reserve position in the IMF, US dollar, annual growth rate -100 % change on previous year (1977)
- Reserve position in the IMF, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate -100 % change on previous year (1977)
- Reserve position in the IMF, SDR, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate -100 % change on previous year (1977)
- Reserve tranche position, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0 units per person (2025)
- Reserve tranche position, SDR, annual growth rate -100 % change on previous year (1977)
Frequently asked questions
- What is domestic credit to private sector in Somalia?
- Domestic credit to private sector in Somalia was 5.4% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector recorded in Somalia?
- The highest recorded value was 25.4% in 1974.
- What is the lowest domestic credit to private sector recorded in Somalia?
- The lowest recorded value was 2.3% in 2018.
- How does Somalia rank for domestic credit to private sector?
- Somalia ranks 183rd out of 187 countries with data for 2024.
- Is domestic credit to private sector rising or falling in Somalia?
- Over the last ten years it is up 131.2%. The long-run trend across the full record is volatile.
- Where does this Somalia data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit to private sector (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.