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Ethiopia's economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20. Ethiopia's real gross domestic product (GDP) growth slowed down to 6.1% in 2019/20 due to the COVID-19 pandemic. [77] Industry, mainly construction, and services accounted for most of the growth.
Apr 9, 2024 · Overview. With about 126.5 million people (2023), Ethiopia is the second most populous nation in Africa after Nigeria, and one of the fastest-growing economies in the region, with an estimated 7.2% growth in FY2022/23. However, it also remains one of the poorest, with a per capita gross national income of $1,020.
Jul 13, 2017 · July 13, 2017. The 16th edition of the African Economic Outlook highlights the fact that Africa’s economic performance is reflecting the perils of the global economy. The region’s real GDP growth slowed down to 2.2% in 2016, mainly due to the continued fall in commodity prices and weak global economic growth. East Africa was the fastest ...
Jan 8, 2024 · Author: Dorothy Krok. Ethiopia’s economic framework stands at a crossroads, navigating between the tenets of varying economic systems. From the dichotomy of a mixed economy to the nuanced balance between state control and private enterprise, the nation grapples with defining a system best suited for its socio-economic evolution.
Dec 4, 2018 · In 2017/18, Ethiopia’s economic growth dipped to 7.7 percent due to reduced government public expenditure aimed at tackling the growing current account deficit and indebtedness. Political uncertainty and severe foreign exchange shortages also dampened growth.
The major focus of this book, however, is the recent economic history, policies, and performance of the Ethiopian economy during a moment of ongoing and significant structural change. Recent experiences are set against the deeper background of the long-run trajectories and features of Ethiopian economic history and the wider sub-Saharan African ...
Economic history of Ethiopia. Development of GDP per capita. The Economy of Ethiopia remained very traditional until the later 20th century, although Ethiopia —unlike most sub-Saharan countries —had maintained trade and contacts with the outside world for centuries.
