Ethiopia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Ethiopia's economy is based on agriculture, which accounts for 46% of GDP and 85% of total employment. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2018): China, United States, and India |
| Top Industries Source: CIA World Factbook | Food Processing; Beverages; Textiles; Leather |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $306,447,087,761 (2021) |
| GDP Growth Rate (annual %) | 5.637% (2021) |
| GDP Per Capita, PPP (current international) | $2,600 (2021) |
GDP Country Rank 58/197 (2021)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 26.84% (2021) |
| External debt stocks, total (DOD, current US$) | $30,364,411,863 (2020) |
| Total tax rate (% of commercial profits) | 37.7% (2019) |
| Real Interest Rate (5 year average %) | -17.122% (2008) |
| Manufacturing, value added (% of GDP) | 4.605% (2021) |
| Current Account Balance (BoP, current US$) | ($2,718,803,790) (2020) |
Labor and Employment [1]
| Labor Force, Total | 55,899,088 (2021) |
| Employment in Agriculture (% of total employment) | 65.617% (2020) |
| Employment in Industry (% of total employment) | 10.35% (2020) |
| Employment in Services (% of total employment) | 24.033% (2020) |
| Unemployment Rate | 3.694% (2021) |
Trade [1]
| Imports of goods and services (current US$) | $18,540,745,791 (2021) |
| Exports of goods and services (current US$) | $8,448,635,570 (2021) |
| Total Merchandise Trade (% of GDP) | 17.731% (2021) |
| FDI, net inflows (BoP, current US$) | $2,395,799,881 (2020) |
| Commercial Service Exports (current US$) | $4,318,052,360 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Ethiopia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.