The National Accounts (or National Account System) involves the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. Somalia currently prides itself with the Gross Domestic Product, Supply and Use Tables (SUT) and Social Accounting matrix techniques to measure the economic activities carried out in the country. Gross Domestic Product (GDP) is the total value of time, usually annually or quarterly. Somalia has regularly been compiling quarterly estimates since 2018.
Basically, the normal and real GDP are computed across the globe. Nominal GDP estimates are commonly used to determine the structure of the economy whereas real GDP affords users the possibility to assess economic performance even among sectors. There are three approaches adopted for producing GDP. Somalia currently produces GDP estimates using the expenditure and production approach. More information is being explored to also produce estimates by the income approach Based on availability of information GDP estimates may either be projected, provisional, revised or final.