Monetary Sector credit to private sector in Somalia
Somalia: Monetary Sector credit to private sector was 5.4% in 2024. ◆ Volatile
Monetary Sector credit to private sector in Somalia, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % GDP.
Analysis
The most recent figure for monetary sector credit to private sector in Somalia is 5.4%, measured in 2024.
Compared with earlier readings it is up 7.1% on the previous year and up 131.2% over ten years.
Over the whole period, monetary sector credit to private sector in Somalia peaked at 25.4% in 1974 and was at its lowest, 2.3%, in 2018.
That places Somalia 182nd out of 186 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.
Monetary Sector credit to private sector in Somalia, year by year
| Year | % 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
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 3.07 % change on previous year (1989)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0099 SDR per US$ of GDP (1989)
- Reserves excluding gold, foreign exchange (SDR), per capita 1.65 SDR per person (1989)
- Reserves excluding gold (SDR), annual growth rate 3.07 % change on previous year (1989)
- Reserves excluding gold (SDR), per capita 1.65 SDR per person (1989)
- Total reserves (gold at market value) (SDR), annual growth rate 2.06 % change on previous year (1989)
- Total reserves (gold at market value) (SDR), per capita 2.47 SDR per person (1989)
- Total reserves (gold at national valuation) (SDR), annual growth rate 2.2 % change on previous year (1989)
- Total reserves (gold at national valuation) (SDR), per capita 2.39 SDR per person (1989)
- Total reserves (gold at national valuation) 16.97 million SDR (1989)
Frequently asked questions
- What is monetary sector credit to private sector in Somalia?
- Monetary sector 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 monetary sector credit to private sector recorded in Somalia?
- The highest recorded value was 25.4% in 1974.
- What is the lowest monetary sector credit to private sector recorded in Somalia?
- The lowest recorded value was 2.3% in 2018.
- How does Somalia rank for monetary sector credit to private sector?
- Somalia ranks 182nd out of 186 countries with data for 2024.
- Is monetary sector 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 Monetary Sector credit to private sector (% 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, 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. 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.