Somalilands annual GDP per capita

[Nomand]

when qaldaans are high on khat they say anything they want.

GDP $30,000

and who the fok are you supposed to be?

Lets me guess Hinaasi Dhabacayo?

GTFO

and pass the shit your smoking.

[Titanium]

Remittances from overseas workers account for an estimated 80 percent of Somaliland’s $500 million annual gross domestic product, while the sale of livestock mainly to buyers in the Middle East is its biggest generator of export income.

Source: http://www.bloomberg.com/news/2012-11-1 ... malia.html

You divide the Gross Domestic Product to the amount of people living in the country to determine the GDP per capita.

So 500 million / 3.5 million = $142.85 GDP per capita.

you honestly think you figured out some thing? calculating GDP is far more sophisticated than this supper simplistic way. Kulahaa remittance is 500 million and that is 80% of the GDP, forget everything else that is taken into account when calculating GDP, have you ever heard something called the multiplier effect of money on the economy. SXB i don't have time to discuss technical issues but calculating GDP is far more sophisticated than you seem to think.

There is no other way of calculating GDP per capita. You use division. Anyone who took first year macroeconomics would have told you how to calculate GDP per capita. You divide the GDP with the population to get GDP per capita. Per capita means per head (per person). You divide. If I have 10 apples and I want to divide among 5 people, each person will get 2 apples. Same logic here.

I went online to find out the GDP and the population of the following countries: US, Canada and UK. The answer I got for GDP per capita I got myself by using the calculator offered on Microsoft. Now take those GDP per capita numbers and look on Google whether it's similar.


USA: 14 trillion (GDP) / 300 million people = $46,666 GDP per capita
Canada: 1.8 trillion (GDP) / 33 million people = $54,545 GDP per capita
UK: 2.4 trillion (GDP) / 62 million people = $38,709 GDP per capita


If you are thinking I want Somaliland's GDP to be low, you are dead wrong. I want all Somalis the same standards as the countries like those above. I just fixed an error that was said. Inshallah all Somalis enjoy those figures above one day. My own Somalia has a similar GDP per capita as Somaliland. I am not trying to insult anyone.

If you have further doubt, please don't hesitate to visit the following website:

http://www.investopedia.com/terms/p/per ... z2M2qJPgot

[FarIyoAlif]

Remittances from overseas workers account for an estimated 80 percent of Somaliland’s $500 million annual gross domestic product, while the sale of livestock mainly to buyers in the Middle East is its biggest generator of export income.

Source: http://www.bloomberg.com/news/2012-11-1 ... malia.html

You divide the Gross Domestic Product to the amount of people living in the country to determine the GDP per capita.

So 500 million / 3.5 million = $142.85 GDP per capita.

you honestly think you figured out some thing? calculating GDP is far more sophisticated than this supper simplistic way. Kulahaa remittance is 500 million and that is 80% of the GDP, forget everything else that is taken into account when calculating GDP, have you ever heard something called the multiplier effect of money on the economy. SXB i don't have time to discuss technical issues but calculating GDP is far more sophisticated than you seem to think.

The basic formula for calculating the GDP is:

Y = C + I + E + G

where

Y = GDP

C = Consumer Spending

I = Investment made by industry

E = Excess of Exports over Imports

G = Government Spending

so if Y = $500million

the GDP per capita = real GDP per capita = real GDP (in $ terms) / population

$500 million / 3.5 million = $142.85

hadii $30000 ay ahaan lahayd samadaa loo kaaji lahaa, think of it, it would be almost the same as the UK.
if the GDP is wrong just use that formula
hadaan khaldamayna noo sheeg.

[HooBariiska]

^^beenta dhaaf the gdp per capita for the uk is over 40,000 pounds, google it

[FarIyoAlif]

^^beenta dhaaf the gdp per capita for the uk is over 40,000 pounds, google it

no it's actually 39000 USD

http://data.worldbank.org/indicator/NY.GDP.PCAP.CD

[X.Playa]

Obviosuly you guys don't know what you are talking about. When the goverment of somaliland calculate its revenue its around 125 million, that comes mainly from taxsations. Now what this very goverment doesn't tell you is how much incom the nomads , traders of livestocks get and how many head of livestocks is exported , for example their last estimate was around 1.2 million head between the price of 200$-100$ . Also add that to the port revenue thats never included into the goverment revenue that goes straight to Isaaq fat cats. Also in addition add the monthly remmitence thats around 20 million monthly and estimate how much per year people outside somaliland send home.

Now adding all that together is between 700 million to 1.5 billion. You laso add how much the goverment of somaliland gets in "aid" and thats minimum of 200 million from the European union per year in various forms. All that is part of the GDP if you took economics 101. Lets even take 400 million and divide it by 4 million (the population is even less then that), still thats one of the best african per capita incomes

So my estimate in fact is very conservative, There is huge amount of money thatr goes into somaliland but the local fat cats will always play the game that they are starving , in fact somaliland among the top per/capita incom in Africa and all somalia for that matter, you have to understand that today unlike the 1980's there are around 2 million somalis outside of the country that send monthly at least $100 , thats at least. The last somaliland's minister of finance estimated that around 40 million per month enters somaliland through remmitence.


Now why are these people poor and starving and suffer from inflations , 4 reasons:

1- 90% of that money that enters the country leavs as fast as it came through buying foreign goods and the lack of banking. Lets say somaliland diaspora send $100, now that $100 will be spent on , food which mostly comes from outside the country. like, oil, rice, flour sugar, tea , qaad , cloths and meat. Now notice all the items there only the meat is produced locally, in another word 90% of that money goes to these countries that produce these goods basically. The merchants in addition will deposit their profits in foreign countries like UAE and deprive the country of that hard currency. Its a parasatic trade , 100% exploitations with zero benefits in retrurne.

2- Main reasons for somaliland inflations is , too much money chasing too few goods, and thats man made not real economics , since the market is monoplized by few rich merchants. The main reasons for that kind of inflations is as the following, example the price of coffee in Hargaysa , in all major hotels in Hargaysa the price of coffee is around the same price as Starbucks in north America , now imagin that a dude in Hargaysa paying $2 for a coffee that comes from the next door?? why? because they can afford too, easy money comming from the West + savy traders that know these people have money that comes from outside that they will spend regardless. In somaliland even teenagers kids will aske you for more then $200 , a cousin of mine aged $18 once told me $100 is chump change , now imagine that. In ethopia thats the income of an entire family in 4 months.

3- Corruption , the main one in terms of economics the fact that even after 22 years of independence somaliland's various goverment as of yet refuse to ban merchants from doing the foreighn exchange, now imagine if you can send $100 to somaliland's centeral bank and have the goverment exchange that money for your grandmother instead of the street merchants. By doing that simple actions the goverment of somaliland will fix and control the exchange rate and get $100 in hard currnecy that can be used to build the country.

4- Somaliland is the only country in Africa where the currency is exchanged in the street and the the few merchant in the street decide how much the $ will be traded for through a genetelmen agreement, so when they sell their prodcuts they charge people by the $ and make the most in the deal, in the otherside they manupilate the exchange rate between somaliland shilling and the dollar and get a double wammy, both ways win win.

[Jaidi]

Why wouldn't the government include revenue from livestock trade in the GDP calculation?

You're saying those estimates are only based on revenue from taxes and nothing else?

[FarIyoAlif]

Obviosuly you guys don't know what you are talking about. When the goverment of somaliland calculate its revenue its around 125 million, that comes mainly from taxsations. Now what this very goverment doesn't tell you is how much incom the nomads , traders of livestocks get and how many head of livestocks is exported , for example their last estimate was around 1.2 million head between the price of 200$-100$ . Also add that to the port revenue thats never included into the goverment revenue that goes straight to Isaaq fat cats. Also in addition add the monthly remmitence thats around 20 million monthly and estimate how much per year people outside somaliland send home.

Now adding all that together is between 700 million to 1.5 billion. You laso add how much the goverment of somaliland gets in "aid" and thats minimum of 200 million from the European union per year in various forms. All that is part of the GDP if you took economics 101. Lets even take 400 million and divide it by 4 million (the population is even less then that), still thats one of the best african per capita incomes

So my estimate in fact is very conservative, There is huge amount of money thatr goes into somaliland but the local fat cats will always play the game that they are starving , in fact somaliland among the top per/capita incom in Africa and all somalia for that matter, you have to understand that today unlike the 1980's there are around 2 million somalis outside of the country that send monthly at least $100 , thats at least. The last somaliland's minister of finance estimated that around 40 million per month enters somaliland through remmitence.


Now why are these people poor and starving and suffer from inflations , 4 reasons:

1- 90% of that money that enters the country leavs as fast as it came though buying foreign goods and the lack of banking.

2- Main reasons for somaliland inflations is , too much money chasing too few goods , since the market is monoplized by few rich merchants.

3- Corruptiion

4- Somaliland is the only country in Africa where the currency is exchanged in the street and the the few merchant in the street decide how much the $ will be traded for through a genetelmen agreement, so when they sell their prodcuts they charge people by the $ and make the most in the deal, in the otherside they manupilate the exchange rate between somaliland shilling and the dollar and get a double wammy, both ways win win.

that's exactly what I said but in a more detailed way, you just didn't use the Y = C + I + E + G formula that's all, I don't know about the amount of money that is lost through corruption and etc. but as you said "thats one of the best african per capita incomes" it is something to be proud of considering the de-facto status of somaliland, I was just surprised by the $30000 that you mentioned earlier.

[X.Playa]

Yes the port is never included and airport revenue which is $60 at least and also the foreign aid , when they tell you our budget is $120 million this year , they are only telling you how much they expect from thier taxations, and thats the mistake these guys doing when calculating GDP.

GDP doesn't mean goverment revenue , it means the amount of wealth exchanged (total good and service exchanged), even getting $100 from your cousin in UK is considered a GDP. in

[X.Playa]

Obviosuly you guys don't know what you are talking about. When the goverment of somaliland calculate its revenue its around 125 million, that comes mainly from taxsations. Now what this very goverment doesn't tell you is how much incom the nomads , traders of livestocks get and how many head of livestocks is exported , for example their last estimate was around 1.2 million head between the price of 200$-100$ . Also add that to the port revenue thats never included into the goverment revenue that goes straight to Isaaq fat cats. Also in addition add the monthly remmitence thats around 20 million monthly and estimate how much per year people outside somaliland send home.

Now adding all that together is between 700 million to 1.5 billion. You also add how much the goverment of somaliland gets in "aid" and thats minimum of 200 million from the European union per year in various forms. All that is part of the GDP if you took economics 101. Lets even take 400 million and divide it by 4 million (the population is even less then that), still thats one of the best african per capita incomes

So my estimate in fact is very conservative, There is huge amount of money thatr goes into somaliland but the local fat cats will always play the game that they are starving , in fact somaliland among the top per/capita incom in Africa and all somalia for that matter, you have to understand that today unlike the 1980's there are around 2 million somalis outside of the country that send monthly at least $100 , thats at least. The last somaliland's minister of finance estimated that around 40 million per month enters somaliland through remmitence.


Now why are these people poor and starving and suffer from inflations , 4 reasons:

1- 90% of that money that enters the country leavs as fast as it came though buying foreign goods and the lack of banking.

2- Main reasons for somaliland inflations is , too much money chasing too few goods , since the market is monoplized by few rich merchants.

3- Corruptiion

4- Somaliland is the only country in Africa where the currency is exchanged in the street and the the few merchant in the street decide how much the $ will be traded for through a genetelmen agreement, so when they sell their prodcuts they charge people by the $ and make the most in the deal, in the otherside they manupilate the exchange rate between somaliland shilling and the dollar and get a double wammy, both ways win win.

that's exactly what I said but in a more detailed way, you just didn't use the Y = C + I + E + G formula that's all, I don't know about the amount of money that is lost through corruption and etc. but as you said "thats one of the best african per capita incomes" it is something to be proud of considering the de-facto status of somaliland, I was just surprised by the $30000 that you mentioned earlier.

Saying the per/capita income is 30k per head doesn't mean every person in somaliland makes as such, it only means the total revenue be it even the profit of the traders and the goverment revenue etc , divided by the population is equal to 30k per person. So 30,000 is in fact a conservative estimate , the remmitence alone is between 20-40 million per month. And that goes for also Puntland and the South , nothing special about somaliland , the entire former Somali Republic's GDP at least has gone 300% mainly due to the power of remmitence. Now the former Somali republic gets more har currency per/month then the entire goverment of the 1970's or 1980's got in a year.

[LiquidHYDROGEN]

.

[Titanium]

The only argument presented was that the GDP per capita is not $3000 or $30,000.

Let's say for arguments sake that Somaliland has a GDP of $5 billion. So all of the consumption, investment, government spending, exports minus imports equals $5 billion.

5 billion / 3.5 million = $1428 GDP per capita.

Impossible for the $3000 or $30,000 figures to be floating around

[X.Playa]

Well unless you are Chines i have already answered that in a long essay. I even added 30k is conservative, the problem is less then 1000 people in somaliland take 90% of that wealth., If you people had any sense of economics you wouldn't be surprised , for sintance the biggest open air prison in the world is Gaxa strip and their GDP is 1.5 billion a year.

[Somalistan]

tit,

It's like 95% of Somaliland wealth goes directly into the pockets of top 1%. If the wealth was spread around evenly and responsibly, the average farax and xalimo,
It would have positive affect on the overall economy. The money is there, it's just sitting on bank accounts of the few.

[X.Playa]

Simply banning the local merchants from doing the exchange in the streets will benefits somaliland goverment and give them $$$ to creat jobs by building the country, what is only missing is hard currency to buy, tar , cement , steel and fuel.The know how and the labour is there.

So let say the entire diaspora remmitence can go to somaliland goverment bank isntead of Dahabshiil and then to the street merchant ( who takes the Dollar and depose it in Dubay) that alone is enough.