Fdi flows in the host economy, by industry, 19922000 millions of dollars table 6. The designations employed and the presentation of material in this information product do not. From subsaharan africa, ethiopia is compared with rwanda and uganda, which have. This represents a marked improvement on the 20 performance of 4. Rwanda united nations economic commission for africa. Ethiopia economic outlook macroeconomic performance and outlook real gdp growth slowed to an estimated 7. Womens economic empowerment is a prerequisite for sustainable development, propoor growth and the achievement of all the mdgs. Under haile selassie i reigned 193074, ethiopia s economy enjoyed a modicum of free enterprise. The economic outlook is positive, and real gdp growth is projected to stabilize at 7. Growth should benefit from the homegrown economic reform program, which seeks to address macroeconomic imbalances and unlock structural. Figure 2 ethiopia actual and projected poverty rates and real gdp per capita. Prospects and challenges of structural transformation in ethiopia. Ethiopia is the 129th largest export economy in the world and the 116th most complex economy according to the economic complexity index eci.
Ethiopia s economy experienced strong, broadbased growth. It is borne out of the governments vision to propel ethiopia into middle income country status by 2025. Over the last ten years, the country has achieved doubledigit growth in real terms, averaging 10. For more than a decade before 2016, gdp grew at a rate between 8% and 11% annually one of the fastest growing states among the 188 imf member countries. The structure of the ethiopian economy a sambased characterisation1 alemayehu seyoum taffesse and tadele ferede2 may 2004 i.
Country profile rwanda rwanda at a glance economic growth the gross domestic product gdp of rwanda grew by 7 per cent in 2014, and is estimated to have grown by 7 per cent again in 2015. Ethiopias climateresilient and green economy crge strategy, also built upon the. Ethiopia has registered impressive economic growth for several years, ranging between 8 percent and 12 percent. Over the last decade, the county has made tremendous development gains in education, health, and food security, yet it still remains one of the poorest countries in the world. Ethiopia economy, politics and gdp growth summary the. Management achievements in 2015 include closure of all 2015 external audit observations within six months. Ethiopia s agriculture sector policy and investment. Preliminary gender profile of et hiopia 7 acknowledgements ethiopia is one of the 16 countries implementing the global financing for gender equality programme whose main objective is to increase the volume and effective use of aid and domestic resources to implement national commitments to gender equality and womens empowerment gewe. In may 2015, the headline inflation continued its upwards trend, albeit on relatively low levels, and reached 9. Shares of services in total exports, 2005 and 2015. However, the contribution of the industrial sector to gdp, employment and exports remains low. It however benefits from a liberalized economy since the. The staff report prepared by a staff team of the imf for the executive boards consideration on september 21, 2015, following discussions that ended on june 17, 2015, with the officials of the federal democratic republic of ethiopia on economic developments and policies. Average annual gdp growth rate for the last decade was 10, 9%.
Exports are almost entirely agricultural commodities with the exception of gold exports, and coffee is the largest foreign exchange earner. However, the banking, telecommunication and transportation sectors of the economy are dominated by governmentowned companies. Country profile 2015 united nations economic commission. In the fiscal year 2012 ethiopia s economy grew by 9, 7%. Apart from a fiveyear occupation by mussolinis italy. The oxford handbook of the ethiopian economy fantu cheru. Access the latest politics analysis and economic growth summary through 2011 for ethiopia from the economist intelligence unit.
A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. The capital is addis ababa new flower, located almost at the centre of the country. While the drought slowed down growth in 2015 16 the economy still expanded by 8 percent, which is a sign of increased economic resilience. This is slightly faster growth than on average over the past 6 months mainly due to an increase in food inflation. Economy profile of ethiopia doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company dealing with construction permits procedures, time and cost to complete all formalities to build a warehouse and the quality control and. Unicef ethiopia successfully updated and rolled out the revised table of authority, updated its risk profile and harmonized its business continuity plan with the united nations economic.
The ethiopian economy grew by 8 in 2015 16 due to the recent drought affecting agricultural production with spillovers on the trade sector. The growth opportunities and challenges of the ethiopian economy. Economy wide labour productivity growth has been accompanied by. Economic activity gained strength in the 20182019 fiscal year, which ended in july 2019, spurred by a strong services sector and soaring industrial production. Ethiopia is also a vavilov center of diversity for domesticated crops, including enset, coffee and teff. Economic growth and employment patterns, dominant sector, and. Figure 1 ethiopia real gdp growth and contributions to real gdp growth. Ethiopia has a mixed market economy, which means businesses are owned by both the public and private sectors.
Article iv consultation with the federal democratic republic of ethiopia. Ethiopia mining sector and business prospects introduction ethiopia, with a population of roughly 95 million, is the second most populous country in subsaharan africa, and one of the fastest growing economies in the world. The ethiopian economy grew by 8 in 201516 due to the recent drought affecting agricultural production with spillovers on the trade sector. Country profile kenya kenya at a glance economic growth real gross domestic product gdp expanded by 5. The country lies completely within the tropical latitudes and is relatively compact, with similar northsouth and eastwest dimensions. The government of ethiopia is in the process of privatizing many of the stateowned businesses and moving toward a market economy. There is scope for increasing donor investments in womens economic empowerment. Ethiopia mining sector and business prospects introduction.
Ethiopia tuberculosis profile world health organization. To allow for useful comparison, the profile also provides data for other selected economies comparator economies for each indicator. The economy of ethiopia is a mixed and transition economy with a large public sector. Fdi flows in the host economy, by geographical origin, 19922004 millions of dollars unctad wid country profile. Pdf growth options and poverty reduction in ethiopia. Ethiopia economy gdp, inflation, cpi and interest rate. Productive capacity and economic growth in ethiopia 1 introduction ethiopia is one of the largest least developed countries ldcs in subsaharan africa, with a popula. Oec ethiopia eth exports, imports, and trade partners.
Ethiopia the second most populous country in africa is a oneparty state with a planned economy. Our assistance supports ethiopian efforts to increase economic. The oxford handbook of the ethiopian economy edited by fantu cheru, christopher cramer, and arkebe oqubay oxford handbooks. The political economy of growth in ethiopia chapter 4 of volume 2 alemayehu geda1 we are pleased to tell you that we have finally submitted the growth project manuscripts to cambridge university press.
The ethiopian livestock is also significant with over. Ethiopia s growth miracle, coupled with its large population and significant land mass, has attracted. The community questionnaire was administered to a group of community members to collect information on the socio economic indicators of the enumeration areas where the sample households reside. Bordering eritrea, somalia, kenya, south sudan, and sudan, ethiopia is landlocked, and has been using neighboring djiboutis main port for the last two decades. The government estimates that the economy grew by 5. Ethiopia is the largest and most populated country in the horn of africa. In 2014, the fastestgrowing sectors of the economy were. The lead author of the ethiopia profile was pedro martins of the sub regional office for. Ethiopia economic outlook african development bank.
Ethiopia is africas oldest independent country and its second largest in terms of population. Gilgel gibe ii 420 mw and takezze 300 mw and tana beles 460 mw have started generating power. Inflation has remained in single digits for the last two years. Now ethiopia is determined raising the present 2178 mws of electricity to 10, 000 mws from geothermal, biogas, hydropower, solar and wind energy. With about 109 million people 2018, ethiopia is the second most populous nation in africa after nigeria, and the fastest growing economy in the region. The growth and transformation plan gtp, launched late 2010, is the government of ethiopia s goe response to these challenges. At the same time it is about rights and equitable societies. The economic indicators for ethiopia are very encouraging. Annual economic report ethiopian economic association. Sustainable development and poverty reduction program federal democratic republic of ethiopia fdre. Hydroelectric power production is anticipated to increase to over 10,000 mws by 2015.
The ethiopian economy continued its strong expansion in fy14 with real gdp growing by 10. The production and export of cash crops such as coffee were advanced, and importsubstituting manufactures such as textiles and footwear were established. Ethiopia s economy sustained a rapid growth over during the last decade. Pif preparation was guided by existing policies and strategies of the government of ethiopia.
Small and micro enterprises smes development in ethiopia. Its economy has experienced between 8% and 11% growth over the last 10 years, although for 2014 and 2015 that rate dropped to 5. Productive capacity and economic growth in ethiopia. Ethiopia s national development plans place emphasis on promoting exportled industrialization with a focus on light manufacturing. Learn more about the ethiopia economy, including the population of ethiopia, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Ethiopia aims to reach lowermiddleincome status by 2025. Introduction since 1992 the government of ethiopia has introduced a variety of reforms aimed at improving. This growth was driven by government investment in infrastructure, as well as sustained. Fdi stock in the host economy, by geographical origin, 1995 millions of birrs table 5.
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