| People | Ethiopia |
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Economy - overview:
|
Ethiopia's poverty-stricken economy is based on agriculture, accounting for almost half of GDP, 60% of exports, and 80% of total employment. The agricultural sector suffers from frequent drought and poor cultivation practices. Coffee is critical to the Ethiopian economy with exports of some $350 million in 2006, but historically low prices have seen many farmers switching to qat to supplement income. The war with Eritrea in 1998-2000 and recurrent drought have buffeted the economy, in particular coffee production. In November 2001, Ethiopia qualified for debt relief from the Highly Indebted Poor Countries (HIPC) initiative, and in December 2005 the IMF voted to forgive Ethiopia's debt to the body. Under Ethiopia's constitution, the state owns all land and provides long-term leases to the tenants; the system continues to hamper growth in the industrial sector as entrepreneurs are unable to use land as collateral for loans. Drought struck again late in 2002, leading to a 3.3% decline in GDP in 2003. Normal weather patterns helped agricultural and GDP growth recover during 2004-07. |
GDP (purchasing power parity):
|
$62.19 billion (2007 est.) |
GDP (official exchange rate):
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$19.43 billion (2007 est.) |
GDP - real growth rate:
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11.4% (2007 est.) |
GDP - per capita (PPP):
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$800 (2007 est.) |
GDP - composition by sector:
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agriculture: 47%
industry: 13.2%
services: 39.8% (2007 est.) |
Investment (gross fixed):
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26% of GDP (2007 est.) |
Population below poverty line:
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38.7% (FY05/06 est.) |
Household income or consumption by percentage share:
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lowest 10%: 3.9%
highest 10%: 25.5% (2000) |
Distribution of family income - Gini index:
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30 (2000) |
Inflation rate (consumer prices):
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17% (2007 est.) |
Labor force:
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27.27 million (1999) |
Labor force participation rate:
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34.85 % of population |
Labor force - by occupation:
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agriculture: 80%
industry: 8%
services: 12% (1985) |
Unemployment rate:
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NA% |
Budget:
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revenues: $2.947 billion
expenditures: $3.687 billion (2007 est.) |
Budget revenues per capita:
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38 USD per capita |
Public debt:
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45.6% of GDP (2007 est.) |
Industries:
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food processing, beverages, textiles, leather, chemicals, metals processing, cement |
Industrial production growth rate:
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11% (2007 est.) |
Electricity - production:
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2.864 billion kWh (2005) |
Electricity - production per capita:
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37 kWh per capita |
Electricity - consumption:
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2.577 billion kWh (2005) |
Electricity - consumption - per capita:
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33 kWh per capita |
Electricity - exports:
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0 kWh (2005) |
Electricity - imports:
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0 kWh (2005) |
Oil - production:
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7.334 bbl/day (2005 est.) |
Oil - production per capita:
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1 bbl/day per capita |
Oil - consumption:
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29,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
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0.14 bbl/year per capita |
Oil - exports:
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0 bbl/day (2004) |
Oil - imports:
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28,460 bbl/day (2004) |
Oil - proved reserves:
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428,000 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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0 cu m (2005) |
Natural gas - proved reserves:
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23.9 billion cu m (1 January 2006 est.) |
Agriculture - products:
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cereals, pulses, coffee, oilseed, cotton, sugarcane, potatoes, qat, cut flowers; hides, cattle, sheep, goats; fish |
Current account balance:
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-$881 million (2007 est.) |
Current account balance - per capita:
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-11 USD per capita |
Exports:
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$1.216 billion f.o.b. (2007 est.) |
Exports per capita:
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16 USD per capita |
Exports - commodities:
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coffee, qat, gold, leather products, live animals, oilseeds |
Exports - partners:
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China 11%, Germany 9.1%, Japan 7.8%, US 7.2%, Saudi Arabia 6.1%, Djibouti 6%, Italy 5.2% (2006) |
Imports:
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$4.783 billion f.o.b. (2007 est.) |
Imports per capita:
|
62 USD per capita |
Imports - commodities:
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food and live animals, petroleum and petroleum products, chemicals, machinery, motor vehicles, cereals, textiles |
Imports - partners:
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Saudi Arabia 18.1%, China 11.4%, India 8.1%, Italy 5.1% (2006) |
Reserves of foreign exchange and gold:
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$1.261 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
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17 USD per capita |
Debt - external:
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$2.622 billion (31 December 2007 est.) |
Debt - external - per capita:
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34 USD per capita |
Stock of direct foreign investment - at home:
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void |
Stock of direct foreign investment - abroad:
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void |
Market value of publicly traded shares:
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$NA |
Economic aid - donor:
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void |
Economic aid - recipient:
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$1.6 billion (FY05/06) |
Economic aid - recipient per capita:
|
21 USD per capita |
Currency (code):
|
birr (ETB) |
Exchange rates:
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birr per US dollar - 8.96 (2007), 8.69 (2006), 8.68 (2005), 8.6356 (2004), 8.5997 (2003)
note: since 24 October 2001, exchange rates are determined on a daily basis via interbank transactions regulated by the Central Bank |
Fiscal year:
|
8 July - 7 July |
|
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