Somalia

Somalia ranked No. 171 in total trade value through June with a total of $32.88 million. Exports totaled $32.72 million and Imports totaled $160,419, a surplus of $32.56 million.

U.S. trade with Somalia rose to $32.88 million through June

Somalia’s trade with the United States rose to $32.88 million through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 86.09 percent above its total trade during the same time period last year. U.S. exports to Somalia increased 92.95 percent while U.S. imports from Somalia fell 77.46 percent. The U.S. surplus with Somalia was $32.56 million.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Virginia; No. 2 Port of Houston; No. 3 Port of Savannah, Ga.; No. 4 Port of New York; and No. 5 Port of Oakland, Calif.. During the same period the previous year, the top five were No. 1 Port of Houston; No. 2 Port of Savannah, Ga.; No. 3 Port of New York; No. 4 Chicago O’Hare International Airport and No. 5 Port of Virginia. In the current time period, the top five accounted for 82.73 percent of Somalia’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Virginia rose 920.59 percent to $13.4 million.
    Exports rose 929.61 percent to $13.4 million. There were no imports.
  • Trade with No. 2 Port of Houston rose 56.95 percent to $9.14 million.
    Exports rose 56.95 percent to $9.14 million. There were no imports.
  • Trade with No. 3 Port of Savannah, Ga. fell 39.2 percent to $1.75 million.
    Exports fell 39.2 percent to $1.75 million. There were no imports.
  • Trade with No. 4 Port of New York fell 37.64 percent to $1.47 million.
    Exports fell 37.64 percent to $1.47 million. There were no imports.
  • Trade with No. 5 Port of Oakland, Calif. rose 30359 percent to $1.45 million.
    Exports totaled $1.45 million. There were no imports.

Somalia ranked No. 171 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 169.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Somalia by value through June were the categories of Malt extract, less than 40% cocoa; Grain sorghum; Cell phones, related equipment; Commercial vehicles; and Bombs, grenades, cartridges, parts, respectively. They accounted for 68.5 percent of total exports to Somalia.

The value of the top five categories of U.S. imports from Somalia –– Power supplies, transformers; Collectors items of historic or botanic interest; Parts for heavy machinery; Lac; Natural Gums, Resins, Gum-Resins and Bal 1301; and Estimates of low-value imports –– accounted for 83.09 percent of all inbound shipments.

Looking more closely at U.S. exports to Somalia:

  • Malt extract, less than 40% cocoa rose 191.17 percent compared to last year to $10.25 million.
  • Grain sorghum totaled $8.11 million. The previous year, there were no exports in this category.
  • Cell phones, related equipment rose 285.73 percent compared to last year to $1.5 million.
  • Commercial vehicles totaled $1.3 million. The previous year, there were no exports in this category.
  • Bombs, grenades, cartridges, parts totaled $1.26 million. The previous year, there were no exports in this category.

Looking more closely at U.S. imports from Somalia:

  • Power supplies, transformers totaled $57,823. The previous year, there were no imports in this category.
  • Collectors items of historic or botanic interest totaled $25,096. The previous year, there were no imports in this category.
  • Parts for heavy machinery totaled $20,637. The previous year, there were no imports in this category.
  • Lac; Natural Gums, Resins, Gum-Resins and Bal 1301 fell 90.71 percent compared to last year to $16,136.
  • Estimates of low-value imports rose 164.3 percent compared to last year to $13,601.

In the latest annual figures available, Somalia recorded $106.42 million in trade with the United States. Total U.S. exports to Somalia were $ 105.43 million and imports from Somalia were $992,308. The U.S. surplus with Somalia was $104.44 million.