Growth Potential in Somalia
(By Razni)
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The following statistics show the growth potential of Somalia, based on its abundant natural resources and position relative to global trade routes . Of course, to optimize its geographic advantages and resources, this divided nation on the Horn of East Africa would have to at least stabilize and possibly re-unite. The following is meant as a encouragement for nationals of Somalia and for the diaspora the world over.
Somalia has some prime real estate in terms of accessing global trade. Let’s have a look at this fun little map of global trade: http://bioval.jrc.ec.europa.eu/products/gam/index.htm
access-map
Travel time to major cities (in hours and days)
The ochre and brick-to-brown palette indicates travel time to major cities (in hours and days).
The light blue is shipping lane density based on the thickness of the lines in the ocean.
Now a zoom to Somalia:
somalia trade
As you can see the sea trade that passes Somalia is substantial. Nearly 8% of global trade passé through the Gulf of Aden (the space between Somalia and Yemen). 1. In slightly easier-to-imagine terms that’s 20,000 ships and 30% of Europe’s oil imports. 2. Most of the news around the Gulf of Aden in the past years has been about the piracy. 3. It is important to note that piracy is in decline and is now at a 6 year low.
1 http://www.bloomberg.com/news/2011-01-3 ... lence.html
2 http://www.reuters.com/article/2009/04/ ... JR20090415
3 http://www.businessweek.com/news/2012-1 ... rade-route
This means:
If Somalia could tap that trade through locally owned businesses then it could have a growth boom like Singapore, as pictured at the center of the spider web below.
Source: Singapore Bureau of Statistics
http://www.pacificbridge.com/publicatio ... singapore/