51 MILLION LABOUR FORCE
Ethiopia is the second most populous country on the continent with a working population of 60%
US$ 846 BILLION GDP PER CAPITA
Ethiopias GDP per Capita is one of the world’s lowest rate
10.2 % ANNUAL GROWTH
Ehtiopia is one of the fastest growing states among the 188 IMF member countries
Ehtiopia – Always a Step Ahead
Ethiopia’s location gives it strategic dominance as a jumping off point in the Horn of Africa, close to the Middle East and its markets. Bordering Eritrea, Somalia, Kenya, South Sudan, and Sudan, Ethiopia is landlocked, and has been using neighboring Djibouti’s main port for the last two decades. However, with the recent peace with Eritrea, Ethiopia is set to resume accessing the Eritrean ports of Assab and Massawa for its international trade.
With about 109 million people (2018), Ethiopia is the second most populous nation in Africa after Nigeria, and the fastest growing economy in the region. However, it is also one of the poorest, with a per capita income of $790. Ethiopia aims to reach lower-middle-income status by 2025.
Ethiopia’s economy experienced strong, broad-based growth averaging 9.9% a year from 2007/08 to 2017/18, compared to a regional average of 5.4%. Ethiopia’s real gross domestic product (GDP) growth decelerated to 7.7% in 2017/18. Industry, mainly construction, and services accounted for most of the growth. Agriculture and manufacturing made lower contribution to growth in 207/18 compared to the previous year. Private consumption and public investment explain demand-side growth, the latter assuming an increasingly important role.
Higher economic growth brought with it positive trends in poverty reduction in both urban and rural areas. The share of the population living below the national poverty line decreased from 30% in 2011 to 24% in 2016. The government is implementing the second phase of its Growth and Transformation Plan (GTP II) which will run to 2019/20. GTP II aims to continue expanding physical infrastructure through public investments and to transform the country into a manufacturing hub. GTP II targets an average of 11% GDP growth annually, and in line with the manufacturing strategy, the industrial sector is set to expand by 20% on average, creating more jobs.
Official Name: Federal Democratic Republic of Ethiopia (FDRE)
Political system: Federal State with multi-party system
Capital City: Addis Ababa, which is also the seat of the African Union (AU) and United Nations Economic Commission for Africa (ECA).
Location: Ethiopia’s location gives it strategic dominance as a jumping off point in the Horn of Africa, close to the Middle East and Europe markets.
Area: 1.104 million square kilometers
Arable land: 513,000 square kilometers (45%)
Irrigated land: 34,200 square kilometers (3%)
Climate: Temperate in the highlands, ranging from 20°C to 30°C (68°F to 86°F) and hot in the lowlands, often reaching 45°C (113°F). Rainfall ranges from 200 mm to 2000 mm.
Rainy Seasons: Abundant rain in June through August; mild rains in February and March.
Topography: Ethiopia has an elevated central plateau varying in height from 2,000 to 3,000 meters above sea level. In the North and center of the country there are some 25 mountains whose peaks reach over 4,000 meters. The most famous Ethiopia river is Blue Nile or Abbay, which flows a distance of 1,450 kilometers from its source to join the White Nile at Khartoum.
Economy: More than 70% of the population earns a living from the land mainly as substance farmers. Agriculture is the backbone of the national economy, and the principal exports from this sector are coffee, oil seeds, pulses, flowers, vegetables, sugar and food stuffs for animals. There is also thriving livestock sector, exporting cattle, hides and skins.