Somalia gdp 1965 & 1970

[Hatredfree]

Gdp 1965= 200 M
Gdp 1970=300M

The country was always poor, or Google is lying?

 

[Kratos]

Gdp 1965= 200 M
Gdp 1970=300M

The country was always poor, or Google is lying?

Somalia was always poor. Muqdisho was the only relatively developed part of the country. Most of the northern regions in particular were neglected. But you have to take into account that those 200-300M dollars would be alot more money in todays market due to inflation. Plus our population was like 2-3m. So in terms of GDP per capita we were probably richer back then, but still poor.

 

[Hatredfree]

Somalia was always poor. Muqdisho was the only relatively developed part of the country. Most of the northern regions in particular were neglected. But you have to take into account that those 200-300M dollars would be alot more money in todays market due to inflation. Plus our population was like 2-3m. So in terms of GDP per capita we were probably richer back then, but still poor.

OK I see, even though 1965 wasn't that long ago still 200M would hold more value.

 

[Kratos]

OK I see, even though 1965 wasn't that long ago still 200M would hold more value.

You can google some inflation calculators to find out how much it would be worth today. Most of the calculators are based on USD though, so I'm not exactly sure how it relates to Somalia, but it will give you a good estimate

 

[Bentley]

300m back then is alot more worth now. It's called inflation sxb

http://www.in2013dollars.com/1970-GBP-in-2017?amount=300000000

 

[Rocca Littorio]

You have to consider that lowering a country's GDP helps cover up corruption.

So I think Somalia's GDP was probably near 500 - 700 million.

What I don't understand is how Somalia is now in the Billions at its worst point.

 

[The alchemist]

You have to consider that lowering a country's GDP helps cover up corruption.

So I think Somalia's GDP was probably near 500 - 700 million.

What I don't understand is how Somalia is now in the Billions at its worst point.

We also had working instutions, a good infrastructure and much less corruption that produced safer environment that helped cultivate more practical, innovative and hardworking people. In the 60s countries were much poorer in general, e.g. norway had 5billion in GDP, but now has around 430b.

 

[sheikh al islam]

300m back then is alot more worth now. It's called inflation sxb

http://www.in2013dollars.com/1970-GBP-in-2017?amount=300000000

look in dollars the fact of the matter is that somalia has never been "richer" or better than they are today if you put al shabab aside and the military. life expectancy is upp and so is the gdp so is literacy people like to think about the good old days because of propaganda but let me tell you somalia is far better today than the days of siad barre. Just the money the diaspora sends trumps the gdp of somalia in the 1970s