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) | $259,989,856,898 (2019) |
| GDP Growth Rate (annual %) | 8.364% (2019) |
| GDP Per Capita, PPP (current international) | $2,320 (2019) |
GDP Country Rank 61/196 (2019)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 15.84% (2019) |
| External debt stocks, total (DOD, current US$) | $28,287,820,759 (2019) |
| Total tax rate (% of commercial profits) | 37.7% (2019) |
| Real Interest Rate (5 year average %) | -17.122% (2008) |
| Manufacturing, value added (% of GDP) | 5.594% (2019) |
| Current Account Balance (BoP, current US$) | ($4,611,293,723) (2018) |
Labor and Employment [1]
| Labor Force, Total | 54,994,539 (2020) |
| Employment in Agriculture (% of total employment) | 65.617% (2020) |
| Employment in Industry (% of total employment) | 10.35% (2020) |
| Employment in Services (% of total employment) | 24.033% (2020) |
| Unemployment Rate | 2.082% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $20,022,064,432 (2019) |
| Exports of goods and services (current US$) | $7,615,437,261 (2019) |
| Total Merchandise Trade (% of GDP) | 0% (2019) |
| FDI, net inflows (BoP, current US$) | $2,516,228,020 (2019) |
| Commercial Service Exports (current US$) | $4,509,285,550 (2018) |
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.