Somalia's GDP per capita 2012

[Abu-Salman]

Rural production such as milk is left out of GDP, which do double the figure; so is the huge informal sector etc.

Nothing about the WB or IMF is the definitive truth, hence experts revising the concepts, mesurations etc.

[Chimera]

Timur;885510 wrote:

The figure you posted is in GEARY-KHAMIS dollars, which is a

hypothetical

unit of currency

The Geary-Khamis dollar, more commonly known as the international dollar, is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time. It is widely used in economics. -- Source

 

used to measure standard of living.

And what the hell are we discussing in this topic if not 'standards of living'?

 

Life in Somalia was cheaper than life in Burundi or Kenya, obviously, and that's why it ranks well for the Geary-Khamis ranking. However, in actual production, Somalia was worse off than Burundi and far worse off than Kenya. We produced nothing, but we also imported very little, which made things balance out. It STILL doesn't excuse the fact that Somalia produced less than Burundi per capita.

Now I am 100% sure that the only reason your still in this discussion is to save face, unsuccessfully I might add. No need to move the goal posts, we are discussing per capita income and standards of living, these aren't necessarily determined by nationwide industrial production only, but I will entertain your silly attempt at a red-herring nonetheless.

 

Clearly you have no idea about the size of the economies in question. Modern Burundi 20 years later still doesn't have the same export volume as 80s Somalia. Yet you want to sell us the hilarious lie that in 'actual production' it produced and exported more than Somalia when 90% of Burundi's exports constitutes coffee? Compare this to Somalia, where agriculture made up 60% and the rest consisted of textiles, frankincense & Myrrh, dairy products, bananas, fruits, fisheries, sorghum, tobacco, processed meat, sugar, and pharmaceuticals.

 

Burundi's population is slightly smaller than that of Somalia, yet even today its exports are 5 times smaller than the supposed figures of war-torn Somalia, the latter's export volume in reality is actually 20 times higher.

 

It's pathetic that you brush off the World Bank stats in favor of your own imagination. You are either a troll, or you refuse to believe anything other than your own myths. The fact that you went this far into the topic running on your own assumptions and beliefs tells me you are not serious at all.

You come into my topic, and dare call me a troll? Now that's amusing. Just admit it, you came in thinking I had all these figures made up and thought you had me in a corner only to be trashed by world renowned economists who completely obliterated your argument for me. The per capita figures aren't my imagination. I couldn't care less if you agree with them, your protestations are irrelevant in the end,

 

If you can bring facts relating to direct production per capita, do so. Otherwise, none of what you say has merit without a credible source, unless of course you want to make up conspiracies for why you don't trust them.

Fact is; the table from a peer-reviewed economic study clearly shows the per capita income of Somalia was the highest in the region for the entire prewar period. This regional status would no doubt be a fact today had the war not regressed the country to such a state, but at the same this economic status will be attained by Somalia by the end of this decade for the following reasons:

 

- Sizable population

- Abundance of resources

- High value crops

- Massive livestock populations

- Multiple Panamax Ports

- Strategic Location

- Skilled diaspora

 

Now if that bothers you and your inferiority complex, TOUGH LUCK!

[GaraadMon]

Is there really any country in the world that's worse off than Burundi? It's like Rwanda without Kigali.