Remittance inflows to GDP in Somalia
Somalia: Remittance inflows to GDP was 24.9% in 2020. β Volatile
Remittance inflows to GDP in Somalia, 1979β2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
The most recent figure for remittance inflows to gdp in Somalia is 24.9%, measured in 2020.
That represents a change of up 2.3% on the previous year.
Over the whole period, remittance inflows to gdp in Somalia peaked at 25.3% in 2018 and was at its lowest, 0.0%, in 2013.
That places Somalia 6th out of 196 countries with data for 2020, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.2% | 6.2% | 6.2% | 1 |
| 1980s | 4.0% | 1.0% | 9.5% | 4 |
| 2010s | 7.1% | 0.0% | 25.3% | 7 |
| 2020s | 24.9% | 24.9% | 24.9% | 1 |
Countries ranked near Somalia
More financial sector data for Somalia
- Domestic credit to private sector by banks 5.4% (2024)
- Net domestic credit 16.43 trillion current LCU (2024)
- Net foreign assets 33.98 trillion current LCU (2024)
- Monetary Sector credit to private sector 5.4% (2024)
- Broad money 26.1% (1989)
- Claims on central government, etc. -0.9% (2024)
- Domestic credit to private sector 5.4% (2024)
- Official exchange rate 23,098 LCU per US$, period average (2017)
- Net migration 12,077 (2025)
- Claims on central government -10.1% (1989)
Frequently asked questions
- What is remittance inflows to gdp in Somalia?
- Remittance inflows to gdp in Somalia was 24.9% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Somalia?
- The highest recorded value was 25.3% in 2018.
- What is the lowest remittance inflows to gdp recorded in Somalia?
- The lowest recorded value was 0.0% in 2013.
- How does Somalia rank for remittance inflows to gdp?
- Somalia ranks 6th out of 196 countries with data for 2020.
- Where does this Somalia data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.