Statistical Release · 2024
Puntland Gross Domestic Product 2024
GDP 2024
$3,120M
3.0%
GDP Per Capita
$652
Real GDP Growth
3.3%
Real GDP annual growth rate, 2013–2024
Year-on-year percentage change in GDP at constant prices
GDP by expenditure, constant prices, percent annual change
Year-on-year growth rates at constant prices
| Component (% Change) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Household final consumption | +1.4% | +0.7% | -0.9% | +5.0% | +9.2% | +1.9% | +1.9% | -4.6% | +6.2% | +4.6% | -3.3% | -0.7% |
| Government final consumption | -25.9% | +5.0% | -4.8% | +55.0% | +38.7% | +4.7% | -35.6% | +17.2% | +17.6% | -2.5% | -17.9% | +12.5% |
| Gross fixed capital formation | +0.0% | +1.7% | -1.7% | +13.8% | +37.9% | -5.5% | +2.3% | +3.4% | +17.6% | +29.0% | -15.9% | -3.4% |
| Exports of goods and services | -2.4% | +15.0% | +8.7% | -14.0% | -12.8% | -2.7% | -8.2% | +9.0% | -11.0% | -4.6% | +24.2% | +23.4% |
| Imports of goods and services | +2.0% | +6.1% | -1.0% | +17.1% | +31.9% | +3.7% | +1.1% | -8.6% | +17.6% | +14.2% | -8.5% | +1.0% |
| GDP at constant prices | +2.3% | +2.6% | +5.3% | +1.4% | +2.3% | +6.7% | +3.2% | +4.0% | -0.1% | +0.0% | +6.5% | +3.3% |
| GDP per capita, constant prices, US dollars | +2.3% | -0.3% | +2.5% | -1.6% | -0.5% | +3.8% | +0.3% | +1.3% | -2.8% | -2.9% | +3.6% | +0.5% |
GDP at Current and Constant Prices
USD Millions, 2012–2024
GDP by expenditure, current prices
Values in millions of US dollars
| Component | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Household final consumption | 2,410.00 | 2,608.00 | 2,716.00 | 2,892.00 | 2,776.00 | 2,749.00 | 2,925.00 | 3,274.00 | 3,494.00 | 3,672.00 | 4,182.00 | 4,445.00 | 4,544.00 |
| Government final consumption | 55.00 | 44.00 | 46.00 | 48.00 | 67.00 | 86.00 | 93.00 | 67.00 | 88.00 | 101.00 | 107.00 | 97.00 | 111.00 |
| Gross fixed capital formation | 119.00 | 125.00 | 132.00 | 139.00 | 146.00 | 182.00 | 180.00 | 201.00 | 233.00 | 272.00 | 382.00 | 352.00 | 350.00 |
| Exports of goods and services | 167.00 | 173.00 | 205.00 | 241.00 | 188.00 | 151.00 | 153.00 | 153.00 | 187.00 | 166.00 | 171.00 | 232.00 | 297.00 |
| Imports of goods and services | 720.00 | 784.00 | 860.00 | 914.00 | 978.00 | 1,172.00 | 1,268.00 | 1,408.00 | 1,441.00 | 1,677.00 | 2,086.00 | 2,096.00 | 2,182.00 |
| GDP at current prices | 2,030.00 | 2,167.00 | 2,240.00 | 2,406.00 | 2,199.00 | 1,995.00 | 2,083.00 | 2,288.00 | 2,560.00 | 2,532.00 | 2,757.00 | 3,030.00 | 3,120.00 |
| GDP per capita, current prices, US dollars | 576.00 | 615.00 | 618.00 | 645.00 | 573.00 | 505.00 | 513.00 | 548.00 | 597.00 | 574.00 | 608.00 | 650.00 | 652.00 |
GDP Share per Component at current prices
Percentage contribution of each expenditure component to total GDP
GDP by expenditure, current prices, percentage shares
Percentage contribution to total GDP
| Component (%) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Household final consumption | 118.7% | 120.4% | 121.3% | 120.2% | 126.2% | 137.8% | 140.4% | 143.1% | 136.5% | 145.0% | 151.7% | 146.7% | 145.6% |
| Government final consumption | 2.7% | 2.0% | 2.1% | 2.0% | 3.0% | 4.3% | 4.5% | 2.9% | 3.4% | 4.0% | 3.9% | 3.2% | 3.6% |
| Gross fixed capital formation | 5.9% | 5.8% | 5.9% | 5.8% | 6.6% | 9.1% | 8.6% | 8.8% | 9.1% | 10.7% | 13.9% | 11.6% | 11.2% |
| Exports of goods and services | 8.2% | 8.0% | 9.2% | 10.0% | 8.5% | 7.6% | 7.3% | 6.7% | 7.3% | 6.6% | 6.2% | 7.7% | 9.5% |
| Imports of goods and services | 35.5% | 36.2% | 38.4% | 38.0% | 44.5% | 58.7% | 60.9% | 61.5% | 56.3% | 66.2% | 75.7% | 69.2% | 69.9% |
| GDP at current prices | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| GDP per capita, current prices, US dollars | 28.4% | 28.4% | 27.6% | 26.8% | 26.1% | 25.3% | 24.6% | 24.0% | 23.3% | 22.7% | 22.1% | 21.5% | 20.9% |
Household Consumption
Government Consumption
Capital Formation
GDP by expenditure, constant prices
Values in millions of US dollars (2022 base year)
| Component | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Household final consumption | 118.70 | 120.40 | 121.30 | 120.20 | 126.20 | 137.80 | 140.40 | 143.10 | 136.50 | 145.00 | 151.70 | 146.70 | 145.60 |
| Government final consumption | 2.70 | 2.00 | 2.10 | 2.00 | 3.10 | 4.30 | 4.50 | 2.90 | 3.40 | 4.00 | 3.90 | 3.20 | 3.60 |
| Gross fixed capital formation | 5.80 | 5.80 | 5.90 | 5.80 | 6.60 | 9.10 | 8.60 | 8.80 | 9.10 | 10.70 | 13.80 | 11.60 | 11.20 |
| Exports of goods and services | 8.20 | 8.00 | 9.20 | 10.00 | 8.60 | 7.50 | 7.30 | 6.70 | 7.30 | 6.50 | 6.20 | 7.70 | 9.50 |
| Imports of goods and services | 35.50 | 36.20 | 38.40 | 38.00 | 44.50 | 58.70 | 60.90 | 61.60 | 56.30 | 66.20 | 75.60 | 69.20 | 69.90 |
| GDP at constant prices | 2,102.00 | 2,151.00 | 2,208.00 | 2,326.00 | 2,358.00 | 2,412.00 | 2,573.00 | 2,655.00 | 2,760.00 | 2,758.00 | 2,757.00 | 2,937.00 | 3,033.00 |
| GDP per capita, constant prices, US dollars | 597.00 | 611.00 | 609.00 | 624.00 | 614.00 | 611.00 | 634.00 | 636.00 | 644.00 | 626.00 | 608.00 | 630.00 | 633.00 |
Exports composition 2012–2024
Percentage breakdown of export categories over time
GDP by expenditure, current prices, percent annual change
Year-on-year growth rates at current prices
| Component (% Change) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Household final consumption | +8.2% | +4.1% | +6.5% | -4.0% | -1.0% | +6.4% | +11.9% | +6.7% | +5.1% | +13.9% | +6.3% | +2.2% |
| Government final consumption | -20.0% | +4.5% | +4.3% | +39.6% | +28.4% | +8.1% | -28.0% | +31.3% | +14.8% | +5.9% | -9.3% | +14.4% |
| Gross fixed capital formation | +5.0% | +5.6% | +5.3% | +5.0% | +24.7% | -1.1% | +11.7% | +15.9% | +16.7% | +40.4% | -7.9% | -0.6% |
| Exports of goods and services | +3.6% | +18.5% | +17.6% | -22.0% | -19.7% | +1.3% | +0.0% | +22.2% | -11.2% | +3.0% | +35.7% | +28.0% |
| Imports of goods and services | +8.9% | +9.7% | +6.3% | +7.0% | +19.8% | +8.2% | +11.0% | +2.3% | +16.4% | +24.4% | +0.5% | +4.1% |
| GDP at current prices | +6.7% | +3.4% | +7.4% | -8.6% | -9.3% | +4.4% | +9.8% | +11.9% | -1.1% | +8.9% | +9.9% | +3.0% |
| GDP per capita, current prices, US dollars | +6.8% | +0.5% | +4.4% | -11.2% | -11.9% | +1.6% | +6.8% | +8.9% | -3.9% | +5.9% | +6.9% | +0.3% |
Imports composition
Import breakdown by major categories
Average Annual Growth Rate, constant prices
Compound annual growth rate over the full period
| Component (% Change) | 2024 |
|---|---|
| Household final consumption | +1.7% |
| Government final consumption | +2.4% |
| Gross fixed capital formation | +5.6% |
| Exports of goods and services | +1.2% |
| Imports of goods and services | +5.8% |
| GDP at constant prices | +3.1% |
| GDP per capita, constant prices, US dollars | +0.5% |
Average Annual Growth Rate, current prices
Compound annual growth rate over the full period
| Component (% Change) | 2024 |
|---|---|
| Household final consumption | +5.4% |
| Government final consumption | +6.0% |
| Gross fixed capital formation | +9.4% |
| Exports of goods and services | +4.9% |
| Imports of goods and services | +9.7% |
| GDP at current prices | +3.6% |
| GDP per capita, current prices, US dollars | +1.0% |
Methodology
Puntland Statistics Department
Ministry of Planning, Economic Development and International Cooperation
Expenditure approach
·
Base year 2022
·
SNA 2008
·
7 tables
Consumption
SHBS 2022
Government
Min. of Finance
Trade
BoP, UN Comtrade
Deflators
CPI, Stats Dept.