2025-08-04

Somalia’s External Sector

The Central Bank of Somalia issued this May 2023 policy brief to address the nation’s persistent trade deficit, driven by heavy reliance on primary livestock exports and soaring import bills for food and energy. The document mandates targeted interventions to diversify export markets, enhance value addition through small-scale industrialization and agricultural processing, and safeguard remittance inflows by strengthening AML/CFT compliance and correspondent banking. By consolidating fragmented national strategies, upgrading livestock infrastructure, and establishing strategic trade corridors, Somalia can mitigate external shocks and achieve sustainable economic growth.

Somalia

Central Bank of Somalia

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