I can't help but think of how much Somalia relies on its imports. In fact, its imports exceed its exports by $500 million (imports: $800 million, exports: $300 million). That is a serious trade deficit considering how small the Somalia economy is.
If any of you has been in Somalia, you would have saw how practically everything is imported. From soap bars, soda cans, curtains, toilet paper, furniture to glass cups, it is interesting to point out that all these simple things we get from the UAE and China can easily be produced in Somalia. International trade is of course very important and of course its perfectly fine to have these sorts of products imported from foreign countries but there has to be some degree of self-reliance. International trade is usually for things you can't produce (for example: Russia importing bananas).
The next couple of years might be very interesting. Since there is some relative peace and stability in the capital and in large parts of the country, Somalis from the diaspora should flock back home and start these types of industries rather than building a hotel or a restaurant. I always wondered why Somalis didn't focus their time in creating products that we can easily make ourselves.
