Current Account Balance: Somalia

Analysis# Somalia Current Account Balance Somalia's current account balance stands at -8.8% of GDP in 2026, reflecting a significant structural deficit in its external accounts. Since 2013, the metric has deteriorated by 39.7%, moving sharply away from the -2.1% low-deficit recorded in 2015. The -8.8% 2026 figure remains well below the all-time low of -9.7% reached in 2019, positioning Somalia among countries with substantial current account imbalances relative to economic output. The period from 2017 to 2019 marked a critical inflection point, with the balance worsening from -3.6% to -9.7% in just two years. Recovery proved temporary; deficits have largely persisted above -8.5% from 2022 onward. Projections through 2026 suggest stabilization rather than improvement, with the deficit moderating only slightly from the 2025 peak of -9.5%, indicating Somalia faces persistent challenges in balancing trade flows and capital movements.