We examined the socioeconomic importance of goat farming on the island of Socotra. The study included 154 participants from various areas. These data were collected via a questionnaire and statistically analyzed using the Bayesian approach and Kruskal-Wallis test to offer insights into the subject matter. The collected data included important quantitative parameters, such as feeding, watering, herd composition, milk production, and mortality, as well as subjective parameters, including the breeders' reasons for keeping goats. Our study revealed that the main reason for keeping goats on Socotra Island is livelihood purposes (60%), followed by cultural reasons (22%), whereas 18% of respondents keep goats as a companions. In terms of herd composition, generally a Socotri family keeps an average of 107 individuals per herd, of which 59% are adult females, 32% are young under six months, and 9% are adult males. Reproduction patterns indicate that the goats breed twice a year, primarily in May and October. For milk production, goats on Socotra produce an average of 368 ml/day on an annual basis, and the highest production is observed in the mountains. The study also revealed that goats are primarily slaughtered for social reasons, such as family attendance and weddings (55%). According to the respondents, the main cause of mortality in goats was disease (40%). The results of this study have implications for understanding the management of goat farming on the island and conserving the island's biodiversity.