Somalia: Technical Assistance Report-National Accounts Statistics Mission

International Monetary Fund

No 2023/364, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance report on Somalia highlights National Accounts Statistics Mission. The mission’s purpose was to provide technical assistance to the Somalia National Bureau of Statistics (SNBS) in conducting a comprehensive gross domestic product (GDP) revision to incorporate latest source data and methods and to update the base year from 2017 to 2022. The mission assisted the SNBS to produce updated annual GDP time series up to 2022. New data sources were incorporated and the base year for constant prices updated from 2017 to 2022. There is a continuing need to improve source data. While the GDP compilation system makes good use of the limited available data, the foundation for the national accounts remains weak. SNBS will conduct a Business Census in respect of 2023, with implementation gearing up at the end of 2023. It also plans to conduct the first Population Census since 1985, which will also support improvements, especially if designed to provide measures of the informal sector. To support progress toward objectives, the mission recommended a detailed action plan with the priority recommendations carrying particular weight to make headway in improving the completeness of Somalia’s national accounts statistics.

Keywords: GDP; GDP by expenditure; GDP at constant prices; rebased; comprehensive revisions; household consumption.; compilation system; SNBS website; GDP data; population census result; IMF surveillance; IMF's statistics department; agriculture census; Somalia GDP estimate; Imports; Household consumption; Consumption (search for similar items in EconPapers)
Pages: 22
Date: 2023-11-09
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