structural:expansion, stylistic:style_transfer, structural:reformatting, stylistic:tone, information:extraction
Economy

According to the CIA and the Central Bank of Somalia, despite experiencing civil unrest, Somalia has maintained a healthy informal economy, based mainly on livestock, remittance / money transfer companies and telecommunications. Owing to a dearth of formal government statistics and the recent civil war, it is difficult to gauge the size or growth of the economy. For 1994, the CIA estimated the GDP at $3.3 billion. In 2001, it was estimated to be $4.1 billion. By 2009, the CIA estimated that the GDP had grown to $5.731 billion, with a projected real growth rate of 2.6%. According to a 2007 British Chambers of Commerce report, the private sector also grew, particularly in the service sector. Unlike the pre-civil war period when most services and the industrial sector were government-run, there has been substantial, albeit unmeasured, private investment in commercial activities; this has been largely financed by the Somali diaspora, and includes trade and marketing, money transfer services, transportation, communications, fishery equipment, airlines, telecommunications, education, health, construction and hotels. Libertarian economist Peter Leeson attributes this increased economic activity to the Somali customary law (referred to as Xeer), which he suggests provides a stable environment to conduct business in.

According to the Central Bank of Somalia, the country's GDP per capita as of 2012 is $226, a slight reduction in real terms from 1990. About 43% of the population lives on less than 1 US dollar a day, with around 24% of those found in urban areas and 54% living in rural areas.

Somalia's economy consists of both traditional and modern production, with a gradual shift toward modern industrial techniques. Somalia has the largest population of camels in the world. According to the Central Bank of Somalia, about 80% of the population are nomadic or semi-nomadic pastoralists, who keep goats, sheep, camels and cattle. The nomads also gather resins and gums to supplement their income.