● Each country is a unique chapter in the BOOK OF HUMANITY, written in the sweat and blood of people whose PAGES will now remain forever ● 每个国家都是《人类之书》中独特的一章，由人们的汗水与鲜血写就，而他们的篇章如今将永世留存 ● Каждая страна — уникальная глава КНИГИ ЧЕЛОВЕЧЕСТВА, написанная потом и кровью людей, чьи СТРАНИЦЫ теперь будут оставаться навсегда ●
Ethiopia - Economy
How is the economy of Ethiopia? Based on the information we have, Ethiopia has a <p>low-income, fast-growing Horn of Africa economy; widespread poverty and food insecurity worsened by conflict and environmental factors; landlocked with tensions over seaport access; development aid supporting reforms to boost private-sector growth and financial stability; challenge of creating jobs for growing labor force</p>. Key agricultural products in this country include: maize, cereals, wheat, milk, sorghum, barley, taro, beans, sweet potatoes, potatoes (2023).
More about the economy of Ethiopia
| Labor force | 54.47 million (2024 est.) |
|---|---|
| Industrial production growth rate | 9.2% (2024 est.) |
| Industries | food processing, beverages, textiles, leather, garments, chemicals, metals processing, cement |
| Population below poverty line | 23.5% (2015 est.) |
| Taxes and other revenues | 3.9% (of GDP) (2023 est.) |
| Fiscal year | N/A |
| Exchange rates | |
| Currency | birr (ETB) per US dollar - |
| Exchange rates 2023 | 54.601 (2023 est.) |
| Exchange rates 2022 | 51.756 (2022 est.) |
| Exchange rates 2021 | 43.734 (2021 est.) |
| Exchange rates 2020 | 34.927 (2020 est.) |
| Exchange rates 2019 | 29.07 (2019 est.) |
| Debt - external | |
| Debt - external 2023 | $25.426 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $3.784 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $2.028 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.192 billion (2022 est.) |
| Current account balance | |
| Current account balance 2023 | -$4.788 billion (2023 est.) |
| Current account balance 2022 | -$5.16 billion (2022 est.) |
| Current account balance 2021 | -$4.507 billion (2021 est.) |
| Public debt | |
| Public debt 2019 | 31.4% of GDP (2019 est.) |
| Budget | |
| Revenues | $8.808 billion (2023 est.) |
| Expenditures | $12.49 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | N/A |
| Remittances | |
| Remittances 2023 | 0.33% of GDP (2023 est.) |
| Remittances 2022 | 0.4% of GDP (2022 est.) |
| Remittances 2021 | 0.4% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.5% (2021 est.) |
| Highest 10% | 24.8% (2021 est.) |
| Average household expenditures | |
| On food | 37.9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 3.1% of household expenditures (2023 est.) |
| Imports | |
| Imports 2023 | $22.951 billion (2023 est.) |
| Imports 2022 | $24.187 billion (2022 est.) |
| Imports 2021 | $20.859 billion (2021 est.) |
| Imports (partners) | China 26%, Djibouti 16%, India 7%, Kuwait 7%, Saudi Arabia 6% (2023) |
| Comodities Imports force | refined petroleum, fertilizers, plastics, raw sugar, cars (2023) |
| Exports | |
| Exports 2023 | $10.865 billion (2023 est.) |
| Exports 2022 | $10.971 billion (2022 est.) |
| Exports 2021 | $9.496 billion (2021 est.) |
| Exports (partners) | USA 12%, China 10%, UAE 8%, Saudi Arabia 8%, Netherlands 5% (2023) |
| Comodities Exports force | coffee, garments, dried legumes, cut flowers, oil seeds (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $380.895 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $354.926 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $332.97 billion (2022 est.) |
| GDP (official exchange rate) | $126.773 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $2,900 (2024 est.) |
| Real GDP per capita 2023 | $2,800 (2023 est.) |
| Real GDP per capita 2022 | $2,700 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 34.9% (2024 est.) |
| Industry | 25.4% (2024 est.) |
| Services | 37.6% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 80.2% (2024 est.) |
| Government consumption | 5.5% (2024 est.) |
| Investment in fixed capital | 20.5% (2024 est.) |
| Investment in inventories | 0% (2024 est.) |
| Exports of goods and services | 5.6% (2024 est.) |
| Imports of goods and services | -11.8% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 3.4% (2024 est.) |
| Unemployment rate 2023 | 3.5% (2023 est.) |
| Unemployment rate 2022 | 3.5% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 5.4% (2024 est.) |
| Male | 4% (2024 est.) |
| Female | 7.2% (2024 est.) |
All Important Facts about Ethiopia
Want to know more about Ethiopia? Check all different factbooks for Ethiopia below.
