Somalia Economic information

Somalia is a country located in East Africa. Its economy is largely based on agriculture, animal husbandry and fishing. The official currency recognized by the government is the Somali Shilling. Somalia's agricultural sector is one of the country's largest economic activities. Agricultural products include bananas, citrus fruits, rice, sugar cane, corn, potatoes, beans and sesame. Agriculture is important both for domestic market consumption and export. Livestock farming is also an important sector for the Somali economy. The country has a great potential in cattle and sheep breeding. Cattle, goat, sheep and camel breeding is widely done. It contributes to the Somali economy with the production and export of products such as livestock products, meat, milk and leather. Somalia also has rich fishing resources. Since the country has a coastline on the Indian Ocean, its fishing industry potential is high. Tuna, salmon, shrimp and other seafood are caught both for consumption in the domestic market and for export. However, Somalia's economy has been experiencing serious difficulties due to the political instability and civil war it has experienced for many years. This situation prevents the country from using its full economic potential. The government and the international community carry out various projects and assistance for the economic development of Somalia. As a result, Somalia's economy is based on agriculture, animal husbandry and fishing. However, factors such as political instability and civil war prevent the country from using its full economic potential.