What are the Economic Sectors of Somalia?

Last updated 27 June 2020
What are the Economic Sectors of Somalia?

What is the Economic Importance of Somalia?

The Agricultural Sector

Somalia is one of the countries give much importance to the agricultural sector in Africa. Despite all the circumstances in the country, Somalia still has many advantages at the agricultural level, which in turn revitalize the country’s economy.

Among these advantages is the presence of large areas of fertile land that help to increase agricultural production. Somalia produces different crops, such as bananas, cotton and dried lemon. In addition, Somalia’s agricultural seasons also help to increase production. It rains a lot in spring, and moderately in autumn, and intermittently in summer.

Also read: Learn Social Market Economy Patterns

Industrial sector

Industries vary in Somalia, and they include agricultural industries, such as sugar production from sugar cane, or the manufacture of clothing from cotton, which is produced in good quantities in the country. It also produces canned fruits and vegetables and exports to various countries in the world.

Somalia also produces other food products, such as canned fish. The coast of Somalia is one of the richest coasts in Africa, with a wealth of fish, and a length of more than three kilometers. Somalia also exports various types of meat and animal hides that are used in making clothes, shoes and some other products.

Also read: The Most Important Industries in the World

Trade Relations with Other Countries

Somalia has close trade relations with Qatar. Qatar has made many investments in the civil and education fields in Somalia. It has also begun building a port in Somalia to strengthen the economy.

Somalia also has strong ties with Turkey, and some Turkish goods, such as food, have become popular in the Somali market.

Also read: Types of Industry

What Encourages you to Invest in Somalia?

Somalia has many investment opportunities because its market has started to grow as a result of its relationship with some countries. As for the workforce, it is possible to obtain a workforce with lower wages than some other countries because it is one of the countries that belong to the developing world.

Also read: Manufacturing Industries

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