Flag description: light blue with a large white five-pointed star in the center; design based on the flag of the UN (Italian Somaliland was a UN trust territory)
Government-note: While chaos and clan fighting continue in most of Somalia, some orderly government has been established in the northern part. In May 1991, the elders of clans in former British Somaliland established the independent Republic of Somaliland, which, although not recognized by any government, maintains a stable existence, aided by the overwhelming dominance of the ruling clan and the economic infrastructure left behind by British, Russian and American military assistance programs. The economy has been growing and in February 1996 the EU agreed to finance the reconstruction of the port of Berbera; since then, other aid projects have been assumed by the EU and by a non-governmental Italian organization.
@Somalia:Economy
Economy-overview: One of the world's poorest and least developed countries, Somalia has few resources. Moreover, much of the economy has been devastated by the civil war. Agriculture is the most important sector, with livestock accounting for about 40% of GDP and about 65% of export earnings. Nomads and semi-nomads, who are dependent upon livestock for their livelihood, make up a large portion of the population. Crop production generates only 10% of GDP and employs about 20% of the work force. After livestock, bananas are the principal export; sugar, sorghum, corn, and fish are products for the domestic market. The small industrial sector, based on the processing of agricultural products, accounts for less than 10% of GDP; most facilities have been shut down because of the civil strife. Moreover, ongoing civil disturbances in Mogadishu and outlying areas are interfering with any substantial economic advance.
GDP: purchasing power parity-$8 billion (1996 est.)
GDP-real growth rate: 4% (1996 est.)
GDP-per capita: purchasing power parity-$600 (1996 est.)
GDP-composition by sector: agriculture: 59% industry: 10% services: 31% (1995 est.)
Inflation rate-consumer price index: NA%
Labor force: total: 3.7 million (very few are skilled laborers)(1993 est.) by occupation: agriculture (mostly pastoral nomadism) 71%, industry and services 29%