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Ethiopia Economy 2014
http://www.theodora.com/wfbcurrent/ethiopia/ethiopia_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 29, 2014

Economy - overview:
Ethiopia's economy is based on agriculture, which accounts for 46% of GDP and 85% of total employment. Coffee has been a major export crop. The agricultural sector suffers from poor cultivation practices and frequent drought, but recent joint efforts by the Government of Ethiopia and donors have strengthened Ethiopia's agricultural resilience, contributing to a reduction in the number of Ethiopians threatened with starvation. The banking, insurance, and micro-credit industries are restricted to domestic investors, but Ethiopia has attracted significant foreign investment in textiles, leather, commercial agriculture and manufacturing. Under Ethiopia's constitution, the state owns all land and provides long-term leases to the tenants; land use certificates are now being issued in some areas so that tenants have more recognizable rights to continued occupancy and hence make more concerted efforts to improve their leaseholds. While GDP growth has remained high, per capita income is among the lowest in the world. Ethiopia''s economy continues on its state-led Growth and Transformation Plan under its new leadership after Prime Minister MELE's death. The five-year economic plan has achieved high single-digit growth rates through government-led infrastructure expansion and commercial agriculture development. Ethiopia in 2013 plans to continue construction of its Grand Renaissance Dam on the Nile-the controversial multi-billion dollar effort to develop electricity for domestic consumption and export.

GDP (purchasing power parity):
$109 billion (2012 est.)
country comparison to the world: 69

$100.4 billion (2011 est.)
$90.11 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$41.94 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
8.5% (2012 est.)
country comparison to the world: 14

11.4% (2011 est.)
10.6% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,300 (2012 est.)
country comparison to the world: 207

$1,200 (2011 est.)
$1,100 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
18.2% of GDP (2012 est.)
country comparison to the world: 83

22.9% of GDP (2011 est.)
23.1% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 85.6%
government consumption: 8.2%
investment in fixed capital: 26.8%
investment in inventories: 0%
exports of goods and services: 12.7%
imports of goods and services: -33.3%

(2012 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 46.2%
industry: 10.6%
services: 43.2% (2012 est.)

Agriculture - products:
cereals, pulses, coffee, oilseed, cotton, sugarcane, potatoes, khat, cut flowers; hides, cattle, sheep, goats; fish

Industries:
food processing, beverages, textiles, leather, chemicals, metals processing, cement

Industrial production growth rate:
9.2% (2012 est.)
country comparison to the world: 21
[see also: Industrial production growth rate country ranks ]

Labor force:
44.02 million (2012 est.)
country comparison to the world: 15
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 85%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
services: 10% (2009 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
29.2% (FY09/10 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 25.6% (2005)

Distribution of family income - Gini index:
30 (2000)
country comparison to the world: 116

40 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $6.388 billion
[see also: Budget revenues country ranks ]
expenditures: $7.54 billion (2012 est.)

Taxes and other revenues:
15.2% of GDP (2012 est.)
country comparison to the world: 193
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.7% of GDP (2012 est.)
country comparison to the world: 109
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
39.7% of GDP (2012 est.)
country comparison to the world: 90

47% of GDP (2011 est.)
note: official data cover central government debt, including debt instruments issued (or owned) by government entities other than the treasury and treasury debt owned by foreign entities; the data exclude debt issued by subnational entities, as well as intragovernmental debt; debt instruments for the social funds are not sold at public auctions
[see also: Public debt country ranks ]

Fiscal year:
8 July - 7 July

Inflation rate (consumer prices):
22.9% (2012 est.)
country comparison to the world: 219

33.1% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA%
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.5% (31 December 2012 est.)
country comparison to the world: 35

16% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$9.107 billion (31 December 2012 est.)
country comparison to the world: 79

$6.532 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$13.35 billion (31 December 2012 est.)
country comparison to the world: 93

$11.51 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$16.09 billion (31 December 2012 est.)
country comparison to the world: 88

$11.73 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-2.031 billion (2012 est.)
country comparison to the world: 142

$-783 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$3.039 billion (2012 est.)
country comparison to the world: 130

$3.029 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
coffee, khat, gold, leather products, live animals, oilseeds

Exports - partners:
China 13%, Germany 10.8%, US 8%, Belgium 7.7%, Saudi Arabia 7.6% (2012)

Imports:
$10.25 billion (2012 est.)
country comparison to the world: 99

$8.329 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
food and live animals, petroleum and petroleum products, chemicals, machinery, motor vehicles, cereals, textiles

Imports - partners:
China 13.1%, US 11%, Saudi Arabia 8.4%, India 5.4% (2012)

Reserves of foreign exchange and gold:
$3.272 billion (31 December 2012 est.)
country comparison to the world: 105

$3.102 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$10.03 billion (31 December 2012 est.)
country comparison to the world: 99

$8.597 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
birr (ETB) per US dollar -

17.705 (2012 est.)
16.899 (2011 est.)
14.41 (2010 est.)
11.78 (2009)
9.57 (2008)


NOTE: The information regarding Ethiopia on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Ethiopia Economy 2014 information contained here. All suggestions for corrections of any errors about Ethiopia Economy 2014 should be addressed to the CIA.



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