Taxes on income, profits and capital gains (current LCU) in Somalia
Somalia: Taxes on income, profits and capital gains (current LCU) was 1.02 trillion current LCU in 2024. ◆ Volatile
Taxes on income, profits and capital gains in Somalia, 2017–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for taxes on income, profits and capital gains in Somalia is 1.02 trillion current LCU, measured in 2024. That is the highest value across all 8 years on record.
The figure is up 53.2% on the previous year and up 1,177.2% over ten years.
Somalia ranks 37th of 153 countries on this measure, in the top quarter.
Taxes on income, profits and capital gains (current LCU) in Somalia, year by year
| Year | current LCU | Change |
|---|---|---|
| 2017 | 79.63 billion current LCU | — |
| 2018 | 206.87 billion current LCU | +159.8% |
| 2019 | 287.30 billion current LCU | +38.9% |
| 2020 | 319.97 billion current LCU | +11.4% |
| 2021 | 396.04 billion current LCU | +23.8% |
| 2022 | 483.82 billion current LCU | +22.2% |
| 2023 | 663.86 billion current LCU | +37.2% |
| 2024 | 1.02 trillion current LCU | +53.2% |
Somalia compared with similar countries
- Somalia's 1.02 trillion current LCU is above the median for low income countries, which is 578.87 billion current LCU, 1.8× the median. (15 countries reporting)
- Somalia's 1.02 trillion current LCU is above the median for Sub-Saharan Africa, which is 223.33 billion current LCU, 4.6× the median. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 191.27 billion current LCU | 79.63 billion current LCU | 287.30 billion current LCU | 3 |
| 2020s | 576.15 billion current LCU | 319.97 billion current LCU | 1.02 trillion current LCU | 5 |
Countries ranked near Somalia
More public sector data for Somalia
- Democracy, annual growth rate -100 % change on previous year (1991)
- Chief executive of the government is elected, annual growth rate -100 % change on previous year (1991)
- Elected parliament, annual growth rate -100 % change on previous year (1991)
- Men's universal right to vote, annual growth rate -100 % change on previous year (2012)
- Universal right to vote, annual growth rate -100 % change on previous year (2012)
- Universal right to vote in practice, annual growth rate -100 % change on previous year (1991)
- Arms imports 2.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 0.2104 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 0 % change on previous year (2024)
Frequently asked questions
- What is taxes on income, profits and capital gains in Somalia?
- Taxes on income, profits and capital gains in Somalia was 1.02 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Somalia?
- The highest recorded value was 1.02 trillion current LCU in 2024.
- What is the lowest taxes on income, profits and capital gains recorded in Somalia?
- The lowest recorded value was 79.63 billion current LCU in 2017.
- How does Somalia rank for taxes on income, profits and capital gains?
- Somalia ranks 37th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Somalia?
- Over the last ten years it is up 1,177.2%. The long-run trend across the full record is volatile.
- Where does this Somalia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (current LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.