Somalia has a GDP of $12.1B compared to $797B for Taiwan, ranking 149/197 and 22/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Somalia
|
Taiwan
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $180,459,937 | $917,045,732 | - | - |
| 1961 | $191,659,914 | $887,131,873 | $1,778,000,000 | $8,679,929,611 |
| 1962 | $203,531,928 | $949,911,139 | $1,960,000,000 | $9,454,346,748 |
| 1963 | $216,145,936 | $976,592,267 | $2,218,000,000 | $10,464,907,675 |
| 1964 | $229,529,913 | $916,916,392 | $2,592,000,000 | $11,793,964,384 |
| 1965 | $243,725,898 | $862,417,802 | $2,869,000,000 | $13,190,336,174 |
| 1966 | $257,375,897 | $940,886,220 | $3,207,000,000 | $14,463,525,312 |
| 1967 | $271,781,887 | $996,783,740 | $3,709,000,000 | $16,077,852,678 |
| 1968 | $286,719,885 | $1,017,018,224 | $4,325,000,000 | $17,637,862,239 |
| 1969 | $306,357,285 | $999,733,290 | $5,017,000,000 | $19,323,708,846 |
| 1970 | $347,985,394 | $1,045,535,151 | $5,785,000,000 | $21,555,007,674 |
| 1971 | $347,039,446 | $1,067,892,506 | $6,727,000,000 | $24,445,797,153 |
| 1972 | $447,883,941 | $1,226,805,081 | $8,063,000,000 | $27,842,009,247 |
| 1973 | $483,699,611 | $1,077,756,045 | $10,940,000,000 | $32,847,062,458 |
| 1974 | $572,504,036 | $1,085,866,066 | $14,739,000,000 | $33,945,846,774 |
| 1975 | $757,015,879 | $1,245,436,211 | $15,836,000,000 | $36,044,903,890 |
| 1976 | $871,344,245 | $1,222,421,286 | $18,988,000,000 | $41,191,572,828 |
| 1977 | $498,550,725 | $1,389,224,693 | $22,252,000,000 | $45,893,568,392 |
| 1978 | $564,571,823 | $1,469,791,648 | $27,373,000,000 | $53,597,868,524 |
| 1979 | $589,566,929 | $1,396,493,892 | $33,875,000,000 | $59,870,085,548 |
| 1980 | $602,515,548 | $1,421,532,244 | $42,292,000,000 | $64,680,315,014 |
| 1981 | $699,302,473 | $1,510,579,931 | $49,047,000,000 | $67,783,428,692 |
| 1982 | $774,578,932 | $1,552,377,825 | $49,540,000,000 | $66,810,194,447 |
| 1983 | $735,408,642 | $1,372,667,073 | $54,155,000,000 | $71,137,046,806 |
| 1984 | $787,434,542 | $1,417,493,800 | $61,036,000,000 | $79,147,911,326 |
| 1985 | $875,702,247 | $1,552,579,747 | $63,599,000,000 | $82,460,447,325 |
| 1986 | $916,590,786 | $1,519,262,585 | $78,347,000,000 | $96,836,732,438 |
| 1987 | $1,018,972,664 | $1,672,521,530 | $104,956,000,000 | $129,675,882,423 |
| 1988 | $1,051,596,967 | $1,729,642,284 | $126,378,000,000 | $156,044,046,292 |
| 1989 | $1,181,360,844 | $1,795,501,262 | $152,687,000,000 | $183,784,649,810 |
| 1990 | $1,031,282,081 | $1,837,281,328 | $166,392,000,000 | $190,504,223,552 |
| 1991 | $717,974,930 | $1,891,491,616 | $187,100,000,000 | $206,988,834,464 |
| 1992 | $709,297,579 | $1,730,935,689 | $222,947,000,000 | $238,968,470,019 |
| 1993 | $1,260,132,956 | $1,800,010,346 | $234,943,000,000 | $243,364,255,376 |
| 1994 | $1,481,205,098 | $1,478,762,689 | $256,213,000,000 | $260,942,755,411 |
| 1995 | $1,534,756,135 | $1,537,774,140 | $279,013,000,000 | $277,583,630,009 |
| 1996 | $1,792,234,297 | $1,661,503,679 | $292,473,000,000 | $284,304,017,330 |
| 1997 | $2,191,749,014 | $1,681,117,594 | $303,315,000,000 | $288,489,435,863 |
| 1998 | $2,962,047,564 | $1,791,844,291 | $279,926,000,000 | $257,858,026,837 |
| 1999 | $3,045,751,528 | $1,922,976,751 | $303,827,000,000 | $285,370,494,339 |
| 2000 | $3,412,797,450 | $2,059,706,442 | $330,725,000,000 | $313,484,942,307 |
| 2001 | $2,252,847,465 | $2,206,158,044 | $299,303,000,000 | $285,512,538,534 |
| 2002 | $2,192,684,135 | $2,374,493,800 | $307,429,000,000 | $294,450,146,922 |
| 2003 | $2,836,724,352 | $2,555,674,024 | $317,374,000,000 | $308,324,316,262 |
| 2004 | $3,859,592,813 | $2,737,390,479 | $346,881,000,000 | $339,503,528,904 |
| 2005 | $4,683,246,454 | $2,932,027,546 | $374,042,000,000 | $371,706,869,424 |
| 2006 | $5,026,743,282 | $3,122,209,723 | $386,492,000,000 | $388,895,059,066 |
| 2007 | $5,430,713,729 | $3,331,221,430 | $406,940,000,000 | $411,645,733,929 |
| 2008 | $5,913,620,293 | $3,554,225,116 | $415,824,000,000 | $432,019,156,870 |
| 2009 | $2,948,594,552 | $3,792,157,453 | $390,788,000,000 | $405,487,441,747 |
| 2010 | $2,687,807,004 | $4,046,017,819 | $444,245,000,000 | $466,993,498,994 |
| 2011 | $2,906,000,097 | $4,316,872,490 | $483,957,000,000 | $519,940,525,565 |
| 2012 | $4,364,670,160 | $4,605,859,127 | $495,536,000,000 | $528,811,359,505 |
| 2013 | $5,062,881,600 | $5,110,628,983 | $512,957,000,000 | $539,165,671,117 |
| 2014 | $5,728,399,720 | $5,569,461,555 | $535,332,000,000 | $553,457,593,678 |
| 2015 | $6,152,149,100 | $6,152,149,100 | $534,474,000,000 | $534,474,000,000 |
| 2016 | $6,613,743,070 | $6,584,944,951 | $543,002,000,000 | $538,950,160,299 |
| 2017 | $7,621,501,710 | $7,555,288,980 | $591,734,000,000 | $593,383,986,358 |
| 2018 | $7,873,440,830 | $7,710,498,420 | $610,744,000,000 | $616,265,638,561 |
| 2019 | $8,655,023,960 | $7,928,267,058 | $613,453,000,000 | $619,320,922,242 |
| 2020 | $8,628,393,720 | $7,710,043,010 | $676,935,000,000 | $669,693,209,528 |
| 2021 | $9,483,997,390 | $7,976,673,871 | $777,062,000,000 | $754,527,202,297 |
| 2022 | $10,202,767,270 | $8,194,206,885 | $765,529,000,000 | $728,253,805,256 |
| 2023 | $10,968,517,090 | $8,539,706,139 | $757,276,000,000 | $704,527,158,972 |
| 2024 | $12,108,515,110 | $8,878,930,663 | $796,904,000,000 | $716,608,430,916 |
Economic indicators
|
Somalia
|
Taiwan
|
|
|---|---|---|
| Gross domestic product |
$12.1B
2024 |
$797B
2024 |
| GDP rank |
149/197
2024 |
22/197
2024 |
| GDP growth |
10.4%
2023-2024 |
5.23%
2023-2024 |
| GDP per capita |
$637
2024 |
$34,041
2024 |
| GDP per capita rank |
191/197
2024 |
34/197
2024 |
| GDP per capita, PPP |
$1,601
2024 |
$50,500
2017 |
| Government debt | n/a |
$209B
2024 |
| Debt-to-GDP ratio | n/a |
24%
2025 |
| Government debt per person | n/a |
$8,907
2024 |
| Government debt per person rank | n/a |
61/185
2024 |
| Average annual personal income after taxes |
$1,941
2025 |
$17,771
2025 |
| Number of millionaires | n/a |
788,799
2024 |
| Number of billionaires | n/a |
54
2025 |
| Government expenditure, % of GDP |
13%
2025 |
15.9%
2024 |
| Consumer prices inflation |
3.6%
2024-2025 |
1.7%
2024-2025 |
| Central bank interest rate | n/a |
2%
2024 |
| Unemployment rate |
18.8%
2019 |
3.38%
2024 |
| Population |
20177806
|
23308308
|
GDP per capita in Somalia vs Taiwan
Somalia's GDP per capita is $637, ranking 191/197, compared to $34,041 in Taiwan, ranking 34/197. Adjusted for purchasing power (GDP per capita PPP), Somalia ranks 194th at $1,601, while Taiwan ranks 43rd at $50,500.
| Year | Current $ | |||
|---|---|---|---|---|
|
Somalia
|
Taiwan
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $62.7 | - | - | - |
| 1961 | $64.9 | - | $161.2 | - |
| 1962 | $67.2 | - | $172 | - |
| 1963 | $69.5 | - | $188.6 | - |
| 1964 | $71.9 | - | $213.6 | - |
| 1965 | $74.4 | - | $229.3 | - |
| 1966 | $76.5 | - | $249.1 | - |
| 1967 | $78.7 | - | $280.8 | - |
| 1968 | $80.8 | - | $319 | - |
| 1969 | $84.1 | - | $357 | - |
| 1970 | $93.1 | - | $397 | - |
| 1971 | $90.4 | - | $451 | - |
| 1972 | $113.7 | - | $530 | - |
| 1973 | $119.6 | - | $706 | - |
| 1974 | $137.9 | - | $934 | - |
| 1975 | $177.8 | - | $985 | - |
| 1976 | $199.6 | - | $1,158 | - |
| 1977 | $111.2 | - | $1,330 | - |
| 1978 | $117.3 | - | $1,606 | - |
| 1979 | $108.2 | - | $1,950 | - |
| 1980 | $101.5 | - | $2,389 | - |
| 1981 | $116.9 | - | $2,720 | - |
| 1982 | $129 | - | $2,699 | - |
| 1983 | $118.6 | - | $2,903 | - |
| 1984 | $122.5 | - | $3,224 | - |
| 1985 | $130.8 | - | $3,314 | - |
| 1986 | $131.4 | - | $4,036 | - |
| 1987 | $141 | - | $5,350 | - |
| 1988 | $145.3 | - | $6,370 | - |
| 1989 | $166 | - | $7,613 | - |
| 1990 | $145.6 | - | $8,205 | - |
| 1991 | $105.4 | $469 | $9,125 | - |
| 1992 | $109.2 | $461 | $10,768 | - |
| 1993 | $188.6 | $477 | $11,242 | - |
| 1994 | $210.8 | $380 | $12,150 | - |
| 1995 | $210.7 | $389 | $13,119 | - |
| 1996 | $237.2 | $413 | $13,641 | - |
| 1997 | $280.1 | $411 | $14,020 | - |
| 1998 | $363 | $425 | $12,820 | - |
| 1999 | $359 | $444 | $13,804 | $16,100 |
| 2000 | $386 | $467 | $14,908 | $17,400 |
| 2001 | $244.9 | $492 | $13,397 | $17,200 |
| 2002 | $229.6 | $517 | $13,686 | $18,000 |
| 2003 | $286.3 | $547 | $14,066 | $23,400 |
| 2004 | $375 | $580 | $15,317 | $25,300 |
| 2005 | $440 | $619 | $16,456 | $27,500 |
| 2006 | $458 | $659 | $16,934 | $29,500 |
| 2007 | $480 | $700 | $17,757 | $30,100 |
| 2008 | $507 | $739 | $18,081 | $31,100 |
| 2009 | $246.5 | $774 | $16,933 | $32,000 |
| 2010 | $219.2 | $815 | $19,197 | $35,700 |
| 2011 | $235.3 | $881 | $20,866 | $38,200 |
| 2012 | $350 | $1,003 | $21,295 | $39,400 |
| 2013 | $393 | $944 | $21,973 | $39,600 |
| 2014 | $429 | $1,128 | $22,874 | - |
| 2015 | $446 | $1,341 | $22,780 | $46,800 |
| 2016 | $461 | $1,469 | $23,091 | - |
| 2017 | $511 | $1,597 | $25,121 | $50,500 |
| 2018 | $510 | $1,552 | $25,901 | - |
| 2019 | $540 | $1,548 | $25,998 | - |
| 2020 | $518 | $1,454 | $28,705 | - |
| 2021 | $549 | $1,392 | $33,111 | - |
| 2022 | $573 | $1,487 | $32,827 | - |
| 2023 | $597 | $1,557 | $32,442 | - |
| 2024 | $637 | $1,601 | $34,041 | - |
Inflation comparison by year
Over the past 13 years, Somalia has recorded an average annual inflation rate of 3.75%, compared with 1.29% in Taiwan. In 2025, inflation was 3.6% in Somalia and 1.7% in Taiwan.
| Year | Inflation | ||
|---|---|---|---|
|
Somalia
|
Taiwan
|
Somalia
|
Taiwan
|
| 1996 | - | 3.1% | |
| 1997 | - | 0.9% | |
| 1998 | - | 1.7% | |
| 1999 | - | 0.2% | |
| 2000 | - | 1.2% | |
| 2001 | - | 0% | |
| 2002 | - | -0.2% | |
| 2003 | - | -0.3% | |
| 2004 | - | 1.6% | |
| 2005 | - | 2.3% | |
| 2006 | - | 0.6% | |
| 2007 | - | 1.8% | |
| 2008 | - | 3.5% | |
| 2009 | - | -0.9% | |
| 2010 | - | 1% | |
| 2011 | - | 1.4% | |
| 2012 | - | 1.9% | |
| 2013 | 2.8% | 0.8% | |
| 2014 | 1.3% | 1.2% | |
| 2015 | 0.9% | -0.3% | |
| 2016 | 0% | 1.4% | |
| 2017 | 4% | 0.6% | |
| 2018 | 4.3% | 1.4% | |
| 2019 | 4.7% | 0.6% | |
| 2020 | 4.1% | -0.2% | |
| 2021 | 4.6% | 2% | |
| 2022 | 6.8% | 2.9% | |
| 2023 | 6.2% | 2.5% | |
| 2024 | 5.5% | 2.2% | |
| 2025 | 3.6% | 1.7% | |
Balance of trade
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Somalia
|
Taiwan
|
|
|---|---|---|
| Economic freedom | 29 | 79.7 |
| Economic freedom ranking | 193/197 | 5/197 |
| Property rights | 0 | 83 |
| Government integrity | 8.2 | 73.3 |
| Judicial effectiveness | 1.6 | 94.4 |
| Tax burden | 100 | 79 |
| Government spending | n/a | 90.1 |
| Fiscal health | 0 | 91.3 |
| Business freedom | 26.1 | 79.6 |
| Labor freedom | 26.5 | 69 |
| Monetary freedom | n/a | 79.9 |
| Trade freedom | n/a | 86.6 |
| Investment freedom | n/a | 70 |
| Financial freedom | n/a | 60 |
More economic indicators
|
Somalia
|
Taiwan
|
|
|---|---|---|
| Services, % of GDP | n/a |
58.8%
2024 |
| Industry, % of GDP |
9.66%
1986 |
39.8%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
55.8%
1990 |
1.47%
2024 |
GNI, Atlas method
|
$11.5B
2024 |
$825B
2024 |
| GNI per capita, PPP |
$1,590
2024 |
n/a |
| Total reserves including gold |
$23.1M
1989 |
n/a |
| Total reserves ranking |
177/177
1989 |
n/a |
|
Net inflows of foreign direct investment
|
$765M
2024 |
n/a |
|
Servicing debt to the IMF, % of GNI
|
3.32%
2023 |
n/a |
| Poverty at national poverty lines |
55.4%
2022 |
1.5%
2020 |
|
Gross capital formation, % of GDP
|
22.7%
2024 |
26.7%
2024 |
GDP per capita map
GDP per capita
Compare countries by 7 more topics
Relevant pages:
By topic
vs
comparisons:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.