shift toward modern industrial techniques. Somalia has the largest population of camels in the world. According to the Central Bank of Somalia, about 80% of the population are nomadic or semi-nomadic pastoralists, who keep goats, sheep, camels and cattle. The nomads also gather resins and gums to supplement their income. Agriculture Agriculture is the most important economic sector of Somalia. It accounts for about 65% of the GDP and employs 65% of the workforce. Livestock contributes about 40% to GDP and more than 50% of export earnings. Other principal exports include fish, charcoal and bananas; sugar, sorghum and corn are products for the domestic market. According to the Central Bank of Somalia, imports of goods total about $460 million per year, surpassing aggregate imports prior to the start of the civil war in 1991. Exports, which total about $270 million annually, have also surpassed pre-war aggregate export levels. Somalia has a trade deficit of about $190 million per year, but this is exceeded by remittances sent by Somalis in the diaspora, estimated to be about $1 billion. With the advantage of being located near the Arabian Peninsula, Somali traders have increasingly begun to challenge Australia's traditional dominance over the Gulf Arab livestock and meat market, offering quality animals at very low prices. In response, Gulf Arab states have started to make strategic investments in the country, with Saudi Arabia building livestock export infrastructure and the United Arab Emirates purchasing large farmlands. Somalia is also a major world supplier of frankincense and myrrh. The modest industrial sector, based on the processing of agricultural products, accounts for 10% of Somalia's GDP. According to the Somali Chamber of Commerce and Industry, over six private airline firms also offer commercial flights to both domestic and international locations, including Daallo Airlines, Jubba Airways, African Express Airways, East Africa 540, Central Air and Hajara. In 2008, the Puntland government signed a multimillion-dollar deal with Dubai's Lootah Group, a regional industrial group operating in the Middle East and Africa. According to the agreement, the first phase of the investment is worth Dhs 170 m and will see a set of new companies established to operate, manage and build Bosaso's free trade zone and sea and airport facilities. The Bosaso Airport Company is slated to develop the airport complex to meet international standards, including a new runway, main and auxiliary buildings, taxi and apron areas, and security perimeters.