SOMALİ-ÇİN DIŞ TİCARET GÖSTERGELERİ ÜZERİNDE BİR DEĞERLENDİRME

Year 2024, Volume: 11 Issue: 1, 456 - 465, 01.02.2024

Sadak Mohamud Hassan

Abstract

The exchange of products and services between nations through import and export activity is known as international trade. Increasing exports and lowering imports are the goals of a country's international trade strategy, which is formulated by the decisions and actions taken to accomplish these goals. Countries are driven to trade internationally in order to address the growing needs of their populations. In the end, encouraging economic growth is one of the main goals for nations involved in global trade.
The purpose of this study is to assess trade metrics related to Somalia's trade with China from 1992 to 2021. The Chinese Ministry of Commerce, the World Bank, and the United Nations Trade Organization provided the majority of the data used in the analysis. According to the data, Somalia has a trade deficit since more goods are imported from China than are exported. The study's main objective is to look at the two nations' trade volume, import and export values, and trade balance throughout the previous thirty years. The study's conclusions show that trade between the two countries has increased significantly over the last ten years, reaching a total trade value of $1.01 billion in 2021. China is a significant trading partner for Somalia, making up approximately 12.51% of all trade with the nation. While cattle, agricultural products, and minerals are the main exports from Somalia to China, machinery, electronics, textiles, and chemicals are the main goods shipped from China to Somalia. The study suggests actions to boost Somalia's export potential, reduce the trade imbalance with China, and strengthen the economy as a whole.

Keywords

Trade relations, Economic development, Somalia, China

AN ASSESSMENT ON SOMALIA-CHINA FOREIGN TRADE INDICATORS

Abstract

References

• 1. Ademola, O. T., Bankole, A. S., & Adewuyi, A. O. (2016). China-Africa trade relations: Insights from AERC scoping studies. The power of the Chinese dragon: Implications for African development and economic growth, 69-97.
• 2. Farah, A. O. (2016). Geopolitics, Transnational Spaces and Development: Reflections on the Involvement of the US and China in Somalia. In China-Africa Relations in an Era of Great Transformations (pp. 145-162). Routledge.
• 3. Hassan, S. M. (2022). Comparison of Somalia and the East Africa Community in Terms of Economy and Competition. Available at SSRN 4259594.
• 4. Hassan, S. M. (2022). The Developing Trade Relations Between Turkey and Africa in the Last Decade: The Case of Somalia. Daha International University Academic Journal (DIUAJ), 1(1), 50-63.
• 5. Hill, C. W., & Hult, G. T. M. (2017). International Business: Competing in the Global Marketplace, 11e.
• 6. Isak, M. M. M. N. N., & Ali, A. Y. S. (2015). The contribution of crops and livestock production on Somali export: Regression analysis using time series data. Journal of Economics and Sustainable Development, 6(7), 89-92.
• 7. Kulendran, N., & Wilson, K. (2000). Is there a relationship between international trade and international travel? Applied economics, 32(8), 1001-1009.
• 8. Lanteigne, M. (2013). Fire over water: China's strategic engagement of Somalia and the Gulf of Aden crisis. The Pacific Review, 26(3), 289-312.
• 9. Lochery, E. (2020). Somali Ventures in China: Trade and Mobility in a Transnational Economy. African Studies Review, 63(1), 93-116.
• 10. Mhaka, S., & Jeke, L. (2018). An evaluation of the trade relationships between South Africa and China: An empirical review 1995–2014. South African Journal of Economic and Management Sciences, 21(1), 1-15.
• 11. Thakur, M. (2013). Somalia–China relations: China claiming its place as a global actor?, Globalizing Somalia: Multilateral, International and Transnational Repercussions of Conflict, 169.
• 12. Tull, D. M. (2008). China in Africa: European perceptions and responses to the Chinese challenge. Washington, DC: The Johns Hopkins University.
• 13. Tung, R. L. (1982). US-China trade negotiations: Practices, procedures and outcomes. Journal of International Business Studies, 13, 25-37.
• 14. Venkataraman, M., & Gofie, S. M. (2015). The dynamics of China-Ethiopia trade relations: economic capacity, balance of trade & trade regimes. Bandung, 2(1), 1-17.