Somalia earned $65k in exports to Russia against $10.8m imports in 2021

GOOBJOOG NEWS|MOSCOW: Somalia exported goods worth $65,000 only to Russia in 2021 compared to $10.8 million earned by Russia’s export to Somalia highlighting a yawning gap in trade deficits.

According to a report published by the Russian Interfax News Agency, Somalia’s export to Russia consisted of sesame seeds only.

According to the report, Russia’s agricultural exports to Somalia totalled 36,600 tonnes worth $10.8 million in 2021 compared to 29,800 tonnes worth $6.5 million in 2020, when only wheat was exported.

The report further noted that Russia’s export potential to Somalia amounts to $30 million per year. It adds that some of the promising products include grains and leguminous crops, sunflower oil, wheat flour, pasta, yeast and others.

In addition to wheat, wheat flour, sunflower oil, yeast, soft drinks, and water without sugar and additives were also supplied to the Somali market in 2021, Interfax said.