Ratio of GNP to GDP for Somalia
GNPGDPSOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.23
Year-over-Year Change
-0.01%
Date Range
1/1/1960 - 1/1/2010
Summary
The ratio of Gross National Product (GNP) to Gross Domestic Product (GDP) for Somalia measures the relative size of domestic versus foreign production within the Somali economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric represents the proportion of a country's total economic output that is generated by its citizens and companies, both domestically and abroad, compared to the output produced within its geographic borders. Analyzing this ratio provides insights into a nation's economic structure and integration with the global economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using official statistics from the Somali government.
Historical Context
Policymakers and analysts use this ratio to assess Somalia's economic self-sufficiency and dependence on foreign trade and investment.
Key Facts
- Somalia's GNP-to-GDP ratio has averaged around 0.9 over the past decade.
- A GNP-to-GDP ratio below 1.0 indicates that domestic production exceeds income earned by Somali citizens and companies.
- The ratio provides insight into Somalia's level of economic integration with the global marketplace.
FAQs
Q: What does this economic trend measure?
A: The ratio of Gross National Product (GNP) to Gross Domestic Product (GDP) for Somalia represents the proportion of the country's total economic output that is generated by its citizens and companies, both domestically and abroad, compared to the output produced within its geographic borders.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the GNP-to-GDP ratio provides insights into Somalia's economic structure and level of integration with the global economy, which is useful for policymakers and analysts assessing the country's economic self-sufficiency and dependence on foreign trade and investment.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using official statistics from the Somali government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this ratio to assess Somalia's economic self-sufficiency and dependence on foreign trade and investment, which informs policy decisions related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data may be subject to delays or limitations due to the challenging economic and political conditions in Somalia.
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Citation
U.S. Federal Reserve, Ratio of GNP to GDP for Somalia (GNPGDPSOA156NUPN), retrieved from FRED.