Ocean Economy

According to the Regional State of Coast published by Nairobi Convention in 2015, Somalia’s Blue Economy has shown satisfactory promise, although it remains significantly affected by persistent civil strife.

Fisheries: The Agulhas and Somali Current Large Marine Ecosystems (ASCLME) project in 2012 assessed that there is an operative small-scale fishery sector in Somalia, with approximately 50 fishing centres and an estimated 30,000 people from coastal communities engaged by the end of 2012. Despite rich biodiversity and an extensive coastline, exports of fishery products only accounted for around 3% of total exports and contributed about 2% to GDP in 2012. During 1981 – 2014, Somali domestic fishing vessels caught 1,182,995 mt.[1]

Ports and Harbors:  Somalia serves as an important departure / entry point of one of the world’s most important international commercial shipping lanes (the Suez Canal and via the Cape), through which the bulk of global sea-borne trade moves. Four major ports with sheltered deep-water facilities handle practically all of Somalia ocean transport. They are Mogadishu, which imports much of the country’s general cargo and exports bananas; Berbera, which exports mostly livestock; Bossaso, which handles livestock and general cargo; and Kismayo, which exports bananas, livestock and seafood.

The Somali Ports Authority (SPA), created in 1962, is responsible for the administration, operation and maintenance of the country’s ports.

Oil and gas: Somalia have proven gas reserves of 200 billion cubic feet (bcf) as well as prospective oil fields in the northern zone and in the Nuggal and Dharoor basins.

[1] Cashion, T., Glaser, S. M., Persson, L., Roberts, P. M., and Zeller, D. (2018). Fisheries in Somali waters: reconstruction of domestic and foreign catches for 1950 – 2015. Mar. Pol. 87, 275–283. doi: 10.1016/j.marpol.2017.10.025