Somalia: Technical Assistance Report-National Accounts Statistics Mission

Author: International Monetary Fund. Statistics Dept.

Volume/Issue: Volume 2023 Issue 364

Publication date: November 2023

ISBN: 9798400255809

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , Demography , 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

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Summary

A technical assistance mission to the National Bureau of Statistics of Somalia (SNBS) supported work to conduct a comprehensive revisions exercise on estimates of Gross Domestic Product (GDP) by expenditure; rebase GDP from base year 2017 to 2022; and extend the GDP time series to 2022. It did so by processing and incorporating new data, most notably the 2022 Somalia Integrated Household Budget Survey (SIHBS), a key new source which is also being used to update consumer price index (CPI) weights. The SIHBS results underpin an upward revision to GDP levels, resulting from higher values of household consumption, particularly of nonfood items. These improvements to data and methods will improve the understanding of the Somalia economy, both for domestic policymaking and international surveillance.