Economy of

Ethiopia

The economy of Ethiopia is a mixed and

transition economy with a large public
sector. The Ethiopian government is in
the process of privatizing many of the
state-owned businesses and moving
toward a market economy.[15] However,
the banking, telecommunication and
transportation sectors of the economy
are dominated by government-owned
companies.[16][17]
 Economy of
Ethiopia
EDZEtU4XYAAaN h.jpg
Addis Ababa

Currency Birr (ETB) (ብር)

Fiscal year 7 – 8 July

Trade organisations AU, AfCFTA, COMESA,

IGAD, WTO (observer),
G24

Statistics

Population Increase 109,224,559

(2018)[1]

GDP $90.968 billion

(nominal, 2019 est.)[2]
$240.705 billion (PPP,
2019 est.)[2]

GDP rank 65th (nominal, 2018)

 ( , )
62nd (PPP, 2018)
GDP growth 7.6% (16/17) 10.2%
(17/18)
7.9% (18/19e) 7.9%
(19/20f)[3]
GDP per capita $951 (nominal, 2019
est.)[2]
$2,516 (PPP, 2019
est.)[2]

GDP per capita rank 168th (nominal, 2018)

164th (PPP, 2018)
GDP by sector agriculture: 34.8%
industry: 21.6%
services: 43.6%
(2017 est.)[4]
Inflation (CPI) 13.815% (2018 est.)[2]
Population below Positive decrease
poverty line
23.5% (2015, World
Bank)[5]
Gini coefficient Negative increase 39.1
medium (2015, World
Bank)[6]
33.6 (2015)[7]

Labour force 52,630,311 (2018)[8]

78.9% employment
rate (2018)[9]

Labour force by agriculture: 72.7%

occupation
industry: 7.4%
services: 19.9%
(2013 est.)[4]

Unemployment 1.8% (2018)[10]

Main industries food processing,

 beverages, textiles,
leather, chemicals,
metals processing,
cement
Ease-of-doing- 159th (2019)[11]
business rank

External

Exports $3.23 billion (2017

est.)[4]

Export goods coffee, qat, gold, leather

products, live animals,
oilseeds
Main export partners  Sudan 23.3%
  Switzerland 10.2%
 China 8.1%
 Somalia 6.6%
 Netherlands 6.2%
United States 4 7%
  United States 4.7%
 Germany 4.7%
 Saudi Arabia 4.6%
(2017)[4]

Imports $15.59 billion (2017

est.)[4]

Import goods Machinery and aircraft,

metal and metal
products, electrical
materials, petroleum
products, motor
vehicles, chemicals and
fertilizers
Main import partners  China 24.1%
 Saudi Arabia 10.1%
 India 6.4%
 Kuwait 5.3%
 France 5.2%
 (2017)[4]

FDI stock N/A

Current account −$6.551 billion (−8.6%

of GDP, 2017 est.)[2][4]
Gross external debt $26.05 billion (31
December 2017 est.)[4]

Public finances

Public debt 54.2% of GDP (2017

est.)[4]
Budget balance −3.2% (of GDP) (2017
est.)[4]

Revenues 11.24 billion (2017

est.)[4]

Expenses 13.79 billion (2017

est.)[4]

Economic aid $308 million (recipient)

(2001)
 (2001)

Credit rating Standard & Poor's:[12]

B (Foreign currency
ratings)
B (Local currency
ratings)
B (T&C assessment),
Moody's:[13]
B1 (Outlook stable)
Fitch:[14]
B (Outlook stable)

Foreign reserves $3.013 billion (31

December 2017 est.)[4]

Main data source: CIA World Fact Book

All values, unless otherwise stated, are in US
dollars.
Ethiopia has one of the fastest-growing
economies in the world and is Africa's
second most populous country.[18] Many
properties owned by the government
during the previous regime have now
been privatized and are in the process of
privatization.[19] However, certain sectors
such as telecommunications, financial
and insurance services, air and land
transportation services, and retail, are
considered as strategic sectors and are
expected to remain under state control
for the foreseeable future. Almost 50% of
Ethiopia's population is under the age of
18, and even though education
enrollment at primary and tertiary level
has increased significantly, job creation
has not caught up with the increased
output from educational institutes. The
country must create hundreds of
thousands of jobs every year just to keep
up with population growth.[20]

History

Sectors

Macroeconomic
trends

External trade

See also
 References

Further reading

External links

Retrieved from
"https://en.wikipedia.org/w/index.php?
title=Economy_of_Ethiopia&oldid=914944456"

Last edited on 10 September 2019, at

08:34

Content is available under CC BY-SA 3.0 unless

otherwise noted.