The Impact of Somali Piracy On The World (INFOGRAPHIC)

Piracy off the coast of Somalia has been a threat to international shipping and global economy since the second phase of the Somali Civil War in the early 21st century.

The cost of Somali Piracy to the world economy has been increased to around $7 billion in 2011 due to the increasing threats to shipments of goods by Somali pirates. Approximately 80 per cent of all costs are borne by the shipping industry, while governments account for 20 per cent of the expenditures associated with countering piracy attacks. The estimated economic cost of piracy was between $6.6 and $6.9 billion in 2011.

Below is the infographic detailing from Travelinsurance showing the impact that Somali piracy has on the world – both in hard numbers and the human element:

Leave a Reply