Somalia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Somalia may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Somalia exports around $0.52 billion and imports roughly $1.26 billion. 6% of population in the country are unemployed. The total number of unemployed people in Somalia is 910,916. Government expenditure on education is 0.4% of GDP. The Gini Index of the country is 30. Somalia is experiencing good equality. The majority of citizens in Somalia fall within a narrow range of income, although some cases may show significant differences. The Global Peace Index (GPI) for Somalia is 3.307.

Currency
The currency of Somalia is Somali shilling. The plural form of the word Somali shilling is shillings. The symbol used for this currency is Sh, and it is abbreviated as SOS. The Somali shilling is divided into Cent; there are 100 in one shilling.

Credit rating
Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Somalia.

Central bank
In Somalia, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Somalia. Locally, the central bank of Somalia is called Bankiga Dhexe ee Soomaaliya.

Public debt
The government debt of Somalia has not been calculated yet.

Tax information
Personal income tax ranges from 2% to 10%, depending on your specific situation and income level. VAT in Somalia is 10%.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Somalia is $5.896 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Somalia was last recorded at $0 million. PPP in Somalia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Somalia is 1,399 billion. Based on this statistic, Somalia is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Somalia was last recorded at $0 million. The average citizen in Somalia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Somalia averaged 2.6% in 2014. According to this percentage, Somalia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.