GROSS DOMESTIC PRODUCT 2012-2018

Introduction

Gross Domestic Product (GDP) is the total market final value of all goods and services produced within the boundaries of a given country in a given period of time. The goal of calculating GDP is to measure the value of the production of goods and services. Normally GDP is calculated on yearly basis to gauge how the capacity to produces changes overtime by quantifying the total output difference between two consecutive given periods.

2011 was the last time Puntland GDP has been estimated with the assistance of UNDP. For technical issues, it was not possible to produce GDP reports for the years between 2011-2014. However, from 2016 to date, Puntland statistics department invested efforts toward estimating GDP with the assistance of Statistics Sweden. This was not a simple task; data extraction process and adjustment techniques were very sophisticated. The standardization, coherence, consistency and comprehensiveness of data was fundamental target for the calculation methodology. Finally, the process completed in 2019 and therefore, this GDP estimation report contains the data for the period 2012-2018. However, the GDP report for the subsequent years will be published hopefully on time.

GDP_Table 2

wdt_ID GDP by expenditure, constant prices in millions of USDs 2012 2013 2014 2015 2016 2017 2018
1 Household final consumption 2,000 2,083 2,177 2,267 2,400 2,556 2,731
2 Government final consumption 38 42 49 51 61 78 92
3 Gross fixed capital formation 156 161 168 186 197 212 226
4 Exports of goods and services 187 190 218 249 213 181 197
5 Minus: Imports of goods and services -770 -815 -941 -936 -1,051 -1,215 -1,365
6 GDP at purchasers' prices 1,611 1,661 1,670 1,817 1,821 1,813 1,881
7 GDP per capita, constant prices, US dollars 383 395 386 408 398 385 389
GDP by expenditure, constant prices in millions of USDs 2012 2013 2014 2015 2016 2017 2018

PL GDP Report 2012-2018