New business density in Somalia
Somalia: New business density was 0.0202 new registrations per 1,000 people ages 15-64 in 2024. ◆ Volatile
New business density in Somalia, 2016–2024
Source: Entrepreneurship Database, World Bank (WB). Measured in new registrations per 1,000 people ages 15-64.
Analysis
Somalia recorded 0.0202 new registrations per 1,000 people ages 15-64 for new business density in 2024.
That represents a change of down 38.5% on the previous year and down 90.4% over ten years.
Over the whole period, new business density in Somalia peaked at 0.211 new registrations per 1,000 people ages 15-64 in 2016 and was at its lowest, 0.0165 new registrations per 1,000 people ages 15-64, in 2021.
That places Somalia 177th out of 177 countries with data for 2024, putting it in the bottom quarter.
New business density in Somalia, year by year
| Year | new registrations per 1,000 people ages 15-64 | Change |
|---|---|---|
| 2016 | 0.211 new registrations per 1,000 people ages 15-64 | — |
| 2017 | 0.1756 new registrations per 1,000 people ages 15-64 | -16.8% |
| 2018 | 0.1041 new registrations per 1,000 people ages 15-64 | -40.7% |
| 2019 | 0.1127 new registrations per 1,000 people ages 15-64 | +8.3% |
| 2020 | 0.0967 new registrations per 1,000 people ages 15-64 | -14.3% |
| 2021 | 0.0165 new registrations per 1,000 people ages 15-64 | -82.9% |
| 2022 | 0.0287 new registrations per 1,000 people ages 15-64 | +74.1% |
| 2023 | 0.0328 new registrations per 1,000 people ages 15-64 | +14.3% |
| 2024 | 0.0202 new registrations per 1,000 people ages 15-64 | -38.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 0.1509 new registrations per 1,000 people ages 15-64 | 0.1041 new registrations per 1,000 people ages 15-64 | 0.211 new registrations per 1,000 people ages 15-64 | 4 |
| 2020s | 0.039 new registrations per 1,000 people ages 15-64 | 0.0165 new registrations per 1,000 people ages 15-64 | 0.0967 new registrations per 1,000 people ages 15-64 | 5 |
Countries ranked near Somalia
- 174 Bangladesh 0.0648 new registrations per 1,000 people ages 15-64 compare
- 175 Liberia 0.052 new registrations per 1,000 people ages 15-64 compare
- 176 Kiribati 0.0268 new registrations per 1,000 people ages 15-64
More private sector data for Somalia
- Merchandise trade 40.2% (2025)
- Food imports 22.4% (1982)
- Manufactures imports 54.7% (1982)
- Merchandise imports 3.93 billion current US$ (2025)
- Food exports 93.7% (1982)
- Manufactures exports 1.3% (1982)
- Merchandise exports 1.30 billion current US$ (2025)
- Merchandise exports (current US$), per capita 66.14 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -11.74 % change on previous year (2025)
Frequently asked questions
- What is new business density in Somalia?
- New business density in Somalia was 0.0202 new registrations per 1,000 people ages 15-64 in 2024, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new business density recorded in Somalia?
- The highest recorded value was 0.211 new registrations per 1,000 people ages 15-64 in 2016.
- What is the lowest new business density recorded in Somalia?
- The lowest recorded value was 0.0165 new registrations per 1,000 people ages 15-64 in 2021.
- How does Somalia rank for new business density?
- Somalia ranks 177th out of 177 countries with data for 2024.
- Is new business density rising or falling in Somalia?
- Over the last ten years it is down 90.4%. The long-run trend across the full record is volatile.
- Where does this Somalia data come from?
- The figures come from Entrepreneurship Database, World Bank (WB), published as part of New business density (new registrations per 1,000 people ages 15-64). Statizoid updates them automatically from the source API.
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About this data
The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.