Index, annual, not seasonally adjusted 1998 to 20 oct 21 loans from nonresident banks, amounts outstanding, to gdp for ethiopia. Productive capacity and economic growth in ethiopia the united. Ethiopias economy experienced strong, broadbased growth averaging 9. The largest development is that of the grand ethiopian renaissance dam on the abay river, the blue nile, which is going to generate 6, 000 mw and expected to generate a significant amount of foreign currency when completed in 2017, and will create a reservoir double the volume of lake tana. Desalegn, as the ethiopian peoples revolutionary democratic front was given another popular mandate in the may 2015 national elections. Seizing the occasion i would like to warn about the consequences of exponential population growth in ethiopia. Ethiopias economic miracle is running out of steam foreign. From subsaharan africa, ethiopia is compared with rwanda and uganda, which have hdis ranked 157 and 159 respectively see table b. Ethiopia the second most populous country in africa is a oneparty state with a planned economy. This page provides ethiopia exports actual values, historical data, forecast, chart, statistics, economic calendar and news. Ethiopia population 2020 demographics, maps, graphs. Jul 31, 2015 ethiopia is bursting with a feeling of unprecedented economic optimism owing to its high economic growth in the last twenty years and the ethiopian people wherever they are in the world are upbeat. Machinery including computers was the fastestgrowing among the top 10 export categories, up by 29,091% since 2017.
Objective this technical assistance intervention aims at supporting the ethiopian ministry of foreign affairs. The plant is now grown in various parts of the world. The various reports have been published in 2014 which indicate the economic development in the world. Growth was driven mainly by the services sector from the supply side and public investment from the demand side. This is slightly faster growth than on average over the past 6. Inflation has remained in single digits for the last two years. The country has also continued to post strong and inclusive economic growth. The structure of the ethiopian economy a sambased characterisation1 alemayehu seyoum taffesse and tadele ferede2 may 2004 i. Report for the economics of land degradation initiative. And yet, change in the structure of the ethiopian economy has been relatively slow. Ethiopia religion, economy and politics ethiopia has close ties with all three major abrahamic religions, and it was the first in the region to officially adopt christianity in the 4th century. Hydroelectric power production is anticipated to increase to over 10,000 mws by 2015. Ethiopia has a mixed market economy, which means businesses are owned by both the public and private sectors.
Access the latest politics analysis and economic growth summary through 2011 for ethiopia from the economist intelligence unit ethiopia economy, politics and gdp growth summary the economist intelligence unit. Even more, it provides a guide to the political economy of policy and policy. It however benefits from a liberalized economy since the 1990s. However, in recent months in 2015, domestic food prices are increasing. The ethiopian development research institute working papers about edri founded in august 1999 as a semiautonomous government development research institute, edris primary mission is to conduct quality research on the development of the ethiopian economy and disseminate the results to key stakeholders within and outside of ethiopia. College of agriculture and environmental sciences, department of animal sciences, adigrat university, adigrat, ethiopia 2. Review of honey bee and honey production in ethiopia article pdf available in journal of animal science 510. Economic policy and structural transformation in ethiopia oxford. Cardiff school of geography and planning microfinance and. According to official data, the ethiopian economy has grown at 10.
Early this year masimba tafirenyika travelled to ethiopia to see how much has changed since the infamous famine of the mid1980s. However, the banking, telecommunication and transportation sectors of the economy are dominated by governmentowned companies. The growth opportunities and challenges of the ethiopian economy are also. In 2015, ethiopia has 2,700 millionaires, a number that has more than doubled. The ethiopian economy and financial policy has evolved through three major phases. Livestock plan to boost economy and lift millions out of. Why is the world bank bothering the government of ethiopia. The ethiopian economy energy intensity the ratio of the quantity of energy consumption per unit of economic output was 17. Eighteenth international water technology conference, iwtc18 sharm elsheikh, 1214 march 2015 336 hydrological and environmental impacts of grand ethiopian renaissance dam on the nile river abdelkader t. 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. Review of the role of honey subsector in ethiopian economy. With about 105 million people 2017, ethiopia is the second most populous nation in africa after nigeria, and the fastest growing economy in the region. Dec 14, 2018 a guide to the services provided by bees and the sustainable harvesting, processing and marketing of their products. Ethiopia grain and feed annual grain and feed annual.
The government of ethiopia is in the process of privatizing many of the stateowned businesses and moving toward a market economy. Can ethiopias economic growth model become a template for africa despite the world banks objection. 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. Why is the world bank bothering the government of ethiopia on devaluation. Ratio, annual, not seasonally adjusted 1971 to 2015 mar 20 central bank assets to gdp for ethiopia. Ethiopia economy gdp, inflation, cpi and interest rate. Shares of services in total exports, 2005 and 2015 ethiopias. Especially after world war ii, tourism, banking, insurance, and transport began to contribute more to the. Annual economic report ethiopian economic association. Grand ethiopian renaissance dam gerd an interactive qualifying project report submitted to the faculty of worcester polytechnic institute in partial fulfillment of the requirements for the degree of bachelor of civil engineering by. On the other hand, the theory of wagner inclined towards the opposite view. Ethiopia continues its economic ascent world finance. Coffee production in ethiopia is a longstanding tradition which dates back to dozens of centuries.
Over the last ten years, the country has achieved doubledigit growth in real terms, averaging 10. The economy of ethiopia is a mixed and transition economy with a large public sector. Ethiopia is one of the fastestgrowing economies in the world. Global finance magazine ethiopia gdp and economic data. Ethiopias top 10 exports are highly concentrated, representing 88. Review of the role of honey subsector in ethiopian economy amare y. Its economy has experienced between 8% and 11% growth over the last 10 years, although for 2014 and 2015 that rate dropped to 5. Christians account for 63% of the countrys population, with 44% belonging to the ethiopian orthodox church. Given its size, swelling population, and the depths of its poverty, the countrys gains have. Ethiopia s location gives it strategic dominance as a jumping off point in the horn of africa, close to the middle east and its markets.
The statistic shows gross domestic product gdp in ethiopia from 1984 to 2018, with projections up until 2024. In late july 2015, the ministry of agriculture and the international livestock research institute jointly released a brief summary ethiopias fiveyear livestock master plan lmp which covers the period of 2015 2020. Ethiopia economy, politics and gdp growth summary the. Coffee production is vital to the ethiopian economy with about 15 million people directly or indirectly deriving their livelihoods from it. Ethiopia the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. Economic activity gained strength in the 20182019 fiscal year, which ended in july 2019, spurred by a strong services sector and soaring industrial production.
Oec ethiopia eth exports, imports, and trade partners. After years of management under command economy, protracted civil war and recurring drought, the. Ethiopias economy is booming, and despite the countrys current political turmoil, the. The full text of the lmp was recently published online.
Contribution of livestock sector in ethiopian economy. The ethiopian economy continued its strong expansion in fy14 with real gdp growing by 10. Ethiopia is the 129th largest export economy in the world and the 116th most complex economy according to the economic complexity index eci. The gross domestic product gdp in ethiopia was worth 94 billion us dollars in 2019, according to official data from the world bank and projections from trading economics. The federal democratic republic of ethiopia international. Economic growth, development and poverty in ethiopia. The ethiopian economy grew by 8 in 201516 due to the recent drought affecting agricultural production with spillovers on the trade sector. 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.
The annual real gross domestic product gdp growth rate has averaged 10. Bordering eritrea, somalia, kenya, south sudan, and sudan, ethiopia is landlocked, and has been using neighboring djiboutis. Ethiopias currently has the fastest growing economy in africa. 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. Ethiopia gross domestic product gdp 19842024 statista. This web page provides information on the activities of the office, views of the imf staff, and the relations between ethiopia and the imf. Under haile selassie i reigned 193074, ethiopia s economy enjoyed a modicum of free enterprise. Imf executive board concludes 2015 article iv consultation with ethiopia. The compound annual growth rate cagr between 2010 and 2012 was 4. Government spending for economic growth in ethiopia. Ethiopia s gdp is increasing steadily and is expected to surpass the 100 billion mark.
The impact of foreign aid on economic growth of ethiopia. The production and export of cash crops such as coffee were advanced, and importsubstituting manufactures such as textiles and footwear were established. Green economy strategy that shaped the content of this report. Ethiopia also grows a substantial amount 100 thousand tons per year in the 1970s of cotton and processes it into fabric for clothing. It appears quite puzzling that international financial institutions ifis such as the world bank that are supposed to help the development of african countries such as ethiopia offers them unreasonable advise or shall i say order when these. The ethiopian economy grew by 8 in 2015 16 due to the recent drought affecting agricultural production with spillovers on the trade sector. Article iv consultation with the federal democratic republic of ethiopia. Ethiopia s economic system include coffee, livestock products leather, live animals, and meat, fruits, vegetables, flowers, etc. Additional information can be found on the ethiopia and imf country page, including official imf reports and executive board documents in english that deal with ethiopia. 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. Wages and employment in a crowded labor market pdf report. It is mainly produced in the southwestern and southeastern parts of the country. Oct 28, 2019 the statistic shows gross domestic product gdp in ethiopia from 1984 to 2018, with projections up until 2024.
Soil degradation and sustainable land management in the rainfed agricultural areas of ethiopia. Poverty defined as the number of people unable to attain the minimum living standard 3. Behind livestock, grain production is the second most important sector in the countrys agriculturebased economy. Introduction since 1992 the government of ethiopia has introduced a variety of reforms aimed at improving. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about ethiopia. But a new ethiopia is emerging from troubled times and the latest international monetary fund imf forecast says ethiopia will be the fastestgrowing economy in subsaharan africa in 2018. 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. Especially after world war ii, tourism, banking, insurance, and transport began to. During this period a structural change is observed as agriculture declined in its share and. Country report 2017 includes ethiopia real gross domestic product growth rate, with latest forecasts and historical data, gdp per capita, gdp composition and breakdown by sector.
Productive capacity and economic growth in ethiopia. By lawrence freeman, politicaleconomic analysist for africa june 24, 2016 it is common these days, when western nations are discussing the government of ethiopia, to hear a raft of attacks on that nation for human rights violations. Through extensive infrastructure construction and largescale agricultural production, the government of ethiopia seeks to reach middleincome status by 2015. Just as ethiopian farming is at the mercy of the rainfall so the ethiopian export economy is at the mercy of the international market price of coffee. While the drought slowed down growth in 201516 the economy still expanded by 8 percent, which is a sign of increased economic resilience. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor. Ethiopia s growth miracle, coupled with its large population and significant land mass, has attracted.
In 2004, ethiopian gdp gross domestic product was about 63% of kenyan gdp and 4. This is slightly faster growth than on average over the past 6 months mainly due to an increase in food inflation. Federal democratic republic of ethiopia, addis ababa. Remittances ethiopia east and horn of africa development of a. Statistics manual gfsm standards is an urgent task. The ethiopian livestock is also significant with over 50 million cattle, 50 million poultry, 20 million sheep and 20 million goats in 2015 csa, 2015. Ethiopias real gross domestic product gdp growth decelerated to 7.
Can ethiopias economic growth model become a template for. This is the second part of a series on a country in transition. Ahmed 1and mohamed helmy elsanabary 2 1 civil engineering department, faculty of engineering, aswan university, egypt. Gross domestic product gdp denotes the aggregate value of all services and goods. D july 7, 20 introduction on july 5, 20 the central statistical agency of ethiopia announced that the ethiopian population has reached 86 million people.
College of agriculture and environmental sciences, school of agricultural economics and agro business. Under haile selassie i reigned 193074, ethiopias economy enjoyed a modicum of free enterprise. Industry, mainly construction, and services accounted for most of the growth. Now ethiopia is determined raising the present 2178 mws of electricity to 10, 000 mws from geothermal, biogas, hydropower, solar and wind energy. Ethiopia of agriculture in gdp remaining at about 42 per cent. Overall, this is a book that must be read before anyone can claim to have an understanding of the ethiopian economy. Considering 2015 is the year the first growth and transformation plan. It amounted to 63 % of gross domestic expenditure gde, or equivalent to 70 % of gdp. Economic highlights o ethiopia s fy2012 gdp growth was 9.
This news is a boon to the aviation industry in particular, given ethiopian airlines status as africas largest and fastestgrowing airline. Command an economy in which investment, prices, and incomes are determined by central government. Ethiopia is where coffea arabica, the coffee plant, originates. In may 2015, the headline inflation continued its upwards trend, albeit on relatively low levels, and reached 9. The ethiopian economy continued its strong expansion in fy14 with. Degu y, kebebew z, hodel e, amdihun a, mekuriaw a, debele b, deichert g, hurni h. While the drought slowed down growth in 2015 16 the economy still expanded by 8 percent, which is a sign of increased economic resilience. The second theory argues that an increase in the national income cause more public spending mwafaq m. United nations university world institute for development economics research wider. Economic growth and poverty in ethiopia economic growth refers to an increase in the national income or per capita income 2.