WATCH: Somalia's economy heavily dependent on $2 billion in annual remittances

[Deeq A.]

Mogadishu (HOL) — Somalia's economy depends heavily on remittances from its diaspora, with funds sent from abroad accounting for an estimated 30% to 50% of the country's GDP, one of the highest ratios in the world. These remittances, totalling around $2 billion annually, are crucial for covering essential needs such as food, healthcare, and education for countless Somali families.

Source: Hiiraan Online