Submission The Role of International Trade on Economic Growth in Somalia

Abstract

Abstract This paper investigated the role of international trade on economic growth in Somalia, The main objective of the paper is to find out the role of export and import on economic growth in Somalia and to determine the relationship between international trade and economic growth in Somalia The major export of Somalia is livestock which is accompanied by its products i.e. hides and skins though the country deliberately depends on imports of food and non-food items. On the contrary, imports start from neighboring countries including Gulf countries, in South East Asia, and Somalia’s exports for 2021 were $1.53B, a %30.05 increase from 2020, Contribution of livestock to the national economy is estimated at %60-65 Somalia’s major exports are livestock, bananas, skins, fish, charcoal, and scrap metal, the major export partners included the United Arab Emirates, Yemen, and Oman. The studies in 2020 indicated that Somalia was the number 173 economy in the world in terms of total exports and number 140 in total imports Keywords: Exports, Imports, International trade, Economic growth

Keywords

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