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Ethiopia's economy in numbers:
Nominal GDP of USD 119.0 billion in 2021.
Nominal GDP of USD 120.4 billion in 2021.
GDP per capita of USD 1,156 compared to the global average of USD 10,589.
GDP per capita of USD 1,143 compared to the global average of USD 10,589.
Average real GDP growth of 7.6% over the last decade.
Average real GDP growth of 8.4% over the last decade.
Economic structure:
In 2021, services accounted for 41% of overall GDP, manufacturing 5%, other industrial activity 16%, and agriculture 38%. Looking at GDP by expenditure, private consumption accounted for 72% of GDP in 2021, government consumption 9%, fixed investment 28%, and net exports -9%.International trade:
In 2020, manufactured products made up 13% of total merchandise exports, mineral fuels 0%, food 78%, ores and metals 0% and agricultural raw materials 9%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 68% of total merchandise imports, mineral fuels 12%, food 18%, ores and metals 1% and agricultural raw materials 1%, with other goods accounting for 0% of the total. Total exports were worth USD 4 billion in 2022, while total imports were USD 19 billion.Economic growth:
The economy recorded average annual growth of 8.4% in the decade to 2021. To read more about GDP growth in Ethiopia, go to our dedicated page.
Fiscal policy:
Ethiopia's fiscal deficit averaged 2.6% of GDP in the decade to 2021. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 3.0% in the decade to 2022. For more information on Ethiopia's unemployment click here.
Inflation:
Inflation averaged 16.1% in the decade to 2022. Go to our Ethiopia inflation page for extra insight.
Monetary Policy:
Ethiopia's monetary policy rate ended 2022 at 7.00%, down from 7.50% a decade earlier. See our Ethiopia monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the birr weakened by 65.7% vs the U.S. dollar. For more info on the birr, click here.
34 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 10 expert analysts.
Want to get insight on the economic outlook for Ethiopia in the coming years? FocusEconomics collects projections out to 2034 on 34 economic indicators for Ethiopia from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Ethiopia economy. To download a sample report on the Ethiopia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.