Economic growth in Somalia

Despite two decades of civil war, the economy of Somalia has survived as an informal economy, based mainly on livestock, remittance/money transfers from abroad, and telecommunications.

Somalia is classified by the United Nations as a least developed country, with the majority of its population being dependent on agriculture and livestock for their livelihood.

Due to a dearth of formal government statistics and the recent civil war, it is difficult to gauge the size or growth of the economy.According to a 2007 British Chambers of Commerce report, the private sector has experienced growth, particularly in the service sector. 

Unlike the pre-civil war period when most services and the industrial sector were government-run, there has been substantial, albeit unmeasured, private investment in commercial activities; this has been largely financed by the Somali diaspora, and includes trade and marketing, money transfer services, transportation, communications, fishery equipment, airlines, telecommunications, education, health, construction and hotels. 

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