Bosaso is a major commercial and economic center of the Puntland State of Somalia and an important city in northeastern Somalia. The city has a diversified economy that includes maritime trade, livestock exports, fisheries, mining, agriculture, traditional markets, and a concentration of business enterprises. Its location on the southern coast of the Gulf of Aden, together with its port facilities and transport connections, has supported its development as a center for regional and international commerce.
Port and trade The Port of Bosaso is the largest port in Puntland and one of the busiest ports in Somalia. It serves as the main entry and exit point for imports and exports in northeastern Somalia and connects the region with markets in the Middle East, East Africa, and other destinations. Goods handled at the port include livestock, fish, frankincense, gold, construction materials, and general merchandise. Bosaso plays an important role in Somalia’s livestock trade. Camels, goats, sheep, and cattle are exported from the city, mainly to Gulf countries such as Saudi Arabia, Yemen, and Oman. Livestock exports form a central part of the local and regional economy. The city also functions as a major import and distribution center. Goods arriving in Bosaso are supplied to Puntland, central Somalia, Somaliland, and Somali-inhabited areas of Ethiopia. Local markets provide foodstuffs, consumer goods, fuel, and construction materials, supporting Bosaso’s role as a commercial center for a wide hinterland. The city’s commercial districts accommodate both small traders and larger business enterprises. Bosaso serves as the main commercial center for the frankincense trade, particularly for products sourced from the Cal-Miskaat region. The city hosts markets where different grades of frankincense are traded and prepared for export, mainly to Middle Eastern markets. Bosaso is a city that is experiencing rapid growth. Prior to the Somali civil war, it had a population of under 50,000 inhabitants. Since the conflict, Somalis belonging to the Harti Darod sub-clans began migrating back to their ancestral areas of
Puntland. As a consequence of these migrations, Bosaso's population and the local housing industry have grown tremendously. branch in Bosaso In December 2011, a new commercial market opened in Bosaso's northern Dayaha ("Star") neighborhood, near the port. Approximately in size, it was designed to ensure easy vehicle access. The market is the result of careful planning between Puntland government officials and civil society representatives. In September 2013, Puntland Minister of Fisheries Mohamed Farah Adan also announced that the Ministry in conjunction with the FAO would open a new fish market in the city, complete with modern refrigerators. Bosaso is home to
Golis Telecom Somalia, the largest
telecommunications operator in northeastern Somalia. Founded in 2002 with the objective of supplying the country with GSM mobile services,
fixed line and
internet services, it has an extensive network that covers all of the nation's major cities and more than 40 districts in both Puntland and
Somaliland. According to
The Economist, Golis offers one of the cheapest international calling rates on the planet, at US$0.2 less than anywhere else in the world. In addition,
Netco has its headquarters in the city. Other telecommunication firms serving the region include
Telcom and
NationLink. In September 2013, Puntland Deputy Minister of Environment Burhan Elmi Hirsi also announced a plan by the Puntland government to establish a
gas manufacturing plant in Bosaso. The new project is part of a broader campaign by the Puntland environmental authorities to avert deforestation and promote alternative sources of fuel. making machines on the outskirts of Bosaso The
Hafun Fishing Company was established in 1992 in Bosaso. It was named after the northeastern port town of
Hafun, where HFC also has an office. The firm exports a wide range of fish products, which it mainly sends to partners in the Middle East. The company is exploring additional global markets for its fish goods. It also maintains commercial interests in Puntland's housing market, which are represented by the firm's growing local real estate sales and development division. Principle wet blue exports are to Turkey, Pakistan, India and China. ==Transportation==