Economy of Ethiopia
Population: 109.22 M (2018)
GDP per Capita: 772 USD (2018)
84,360 M.

GDP USD

(2018)

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7,060 M.

EXPORTS USD

(2018)

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19,230 M.

IMPORTS USD

(2018)

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61.04 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.81 % (2018)
GDP of 2010 USD USD 62.30 B. (2018)
GDP Current USD USD 84.36 B. (2018)
GDP per Capita Current USD USD 772 (2018)
GDP per capita, PPP USD 1,794 (2018)
GDP per Capita, 2010 USD USD 570 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 10.24 % (2018)
Government Spending USD 8.64 B. (2018)
Government Debt % GDP 61.04 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 128.74 (2018)
Trade Openness 31.17 % (2018)
Exports of Goods and Services % GDP 8.37 % (2018)
Exports Goods & Services USD 7.06 B. (2018)
Exports Annual Growth 11.78 % (2018)
Imports as % GDP 22.80 % (2018)
Total Imports USD 19.23 B. (2018)
Foreign Direct Investment % GDP 3.98 % (2018)
Foreign Direct Investment USD 3.31 B. (2018)
Current Account Balance % GDP USD -5.47 % (2018)
Current Account Balance USD -4.61 B. (2018)
Trade Balance % GDP -14.43 % (2018)
Trade Balance USD -12.30 B. (2018)
Foreign Exchange Reserves incl Gold USD 3.99 B. (2018)
Remittances % GDP 0.49 % (2018)
Remittances USD 436 M. (2018)
Balance of Payments USD 1,238 M. (2016)

Labor Market

Indicator Value
Labor Force 53.75 M. (2019)
Unemployment Rate 1.79 % (2019)
Unemployment Rate Females 2.76 % (2019)
Unemployment Rate Males 1.49 % (2019)
Youth Unemployment (ages 15-24) 2.76 % (2019)
Labor Force Participation Rate 80.38 % (2019)
Labor Force (Percent Female) 46.52 % (2019)
Female Labor Force Participation Rate 74.37 % (2019)
Male Labor Force Participation Rate 86.50 % (2019)
Dependent People 79.48 % (2018)

Agriculture Sector

Indicator Value
Forest Area 12.50 % (2016)
Forest Area km² 125,396 km² (2016)
Agricultural Land 36.26 % (2016)
Agricultural Land km² 362,590 km² (2016)
Employment 65.33 % (2019)
Value added % GDP 31.19 % (2018)
Agriculture Value added USD 26.31 B. (2018)
Crop Production Index 187.60 (2016)
Precipitation 848 mm (2014)
Arable Land 15 % (2016)
Cereal Yield 2,538 kg/hectare (2017)
Food production index 162 (2016)
Rural Population 79 % (2018)
Fertilizer use of Arable Land 14 kg/hectare (2016)
Livestock Production Index 120 (2016)
Economy of Ethiopia

According to the World Bank and its latest published data, the economy of the Ethiopia presents a growth rate of 6.81 % (2018) to the previous year.

With a population that reaches 109.22 M (2018) and a gross domestic product of USD 84.36 B. (2018), it translates a Gross Domestic Product per Capita of USD 772 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Ethiopia also has a workforce of 53.75 M. (2019) with an unemployment rate of 1.79 % (2019), where women represent 2.76 % (2019) and men 1.49 % (2019), the unemployment rate for young people between 15-24 years old stood at 2.76 % (2019). The total number of dependent people stands at 79.48 % (2018).

The central government spent 10.24 % (2018) of its gross domestic product that year, which in absolute terms is USD 8.64 B. (2018). Its consolidated public debt reached 61.04 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Ethiopia exported USD 7.06 B. (2018), which represents 8.37 % (2018) of its gross domestic product, in that same sense its imports reached USD 19.23 B. (2018) with a direct foreign investment of USD 3.31 B. (2018).

Ethiopia has a forest area of 125,396 km² (2016), which represents 12.50 % (2016) of its total area, an average rainfall of 848 mm (2014) per year and a population of 79 % (2018) living in rural areas. With a total area of 362,590 km² (2016) available for agriculture and 65.33 % (2019) of its employments, the agricultural sector contributes to the economy of the Ethiopia about USD 26.31 B. (2018) (31.19 % (2018) of its GDP).