| Economy | Ethiopia |
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Economy - overview:
|
Ethiopia's poverty-stricken economy is based on agriculture, accounting for almost 50% of GDP, and 85% 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. 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. In November 2001, Ethiopia qualified for debt relief from the Highly Indebted Poor Countries (HIPC) initiative, and in December 2005 the IMF forgave Ethiopia's debt. The global economic downturn led to balance of payments pressures, partially alleviated by recent emergency funding from the IMF. While GDP growth has remained high, per capita income is among the lowest in the world. |
GDP (purchasing power parity):
|
$94.76 billion (2011 est.)
$88.13 billion (2010 est.)
$81.6 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$1,100 (2011 est.)
$1,000 (2010 est.)
$1,000 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$30.5 billion (2011 est.) |
GDP - real growth rate:
|
7.5% (2011 est.)
8% (2010 est.)
10% (2009 est.) |
GDP - composition by sector:
|
agriculture: 49.3%
industry: 11.1%
services: 39.6% (2011 est.) |
Investment (gross fixed):
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25.7% of GDP (2011 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%: 4.1%
highest 10%: 25.6% (2005) |
Distribution of family income - Gini index:
|
30 (2000)
40 (1995) |
Inflation rate (consumer prices):
|
28.8% (2011 est.)
8.1% (2010 est.) |
Central bank discount rate:
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NA% |
Commercial bank prime lending rate:
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15% (31 December 2011 est.)
14.5% (31 December 2010 est.) |
Stock of money:
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$4.93 billion (31 December 2008)
$4.229 billion (31 December 2007) |
Stock of money - per capita:
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55 USD per capita |
Stock of quasi money:
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$3.603 billion (31 December 2008)
$3.258 billion (31 December 2007) |
Stock of quasi money - per capita:
|
40 USD per capita |
Stock of domestic credit:
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$10.92 billion (31 December 2011 est.)
$7.988 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
121 USD per capita |
Stock of narrow money:
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$6.199 billion (31 December 2011 est.)
$4.4 billion (31 December 2010 est.) |
Stock of broad money:
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$10.52 billion (31 December 2011 est.)
$7.589 billion (31 December 2010 est.) |
Labor force:
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37.9 million (2007) |
Labor force participation rate:
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41.71 % of population |
Labor force - by occupation:
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agriculture: 85%
industry: 5%
services: 10% (2009 est.) |
Unemployment rate:
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NA% |
Unemployment, youth ages 15-24:
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total: 24.9%
male: 19.5%
female: 29.4% (2006) |
Budget:
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revenues: $4.645 billion
expenditures: $5.25 billion (2011 est.) |
Budget revenues per capita:
|
52 USD per capita |
Taxes and other revenues:
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15.2% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-2% of GDP (2011 est.) |
Public debt:
|
42.3% of GDP (2011 est.)
48.3% of GDP (2010 est.) |
Industries:
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food processing, beverages, textiles, leather, chemicals, metals processing, cement |
Industrial production growth rate:
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9.5% (2010 est.) |
Electricity - production:
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3.715 billion kWh (2008 est.) |
Electricity - production per capita:
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41 kWh per capita |
Electricity - consumption:
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3.357 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
37 kWh per capita |
Electricity - exports:
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0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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47,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.19 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
33,480 bbl/day (2009 est.) |
Oil - proved reserves:
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430,000 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
24.92 billion cu m (1 January 2011 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:
|
-$1.334 billion (2011 est.)
-$1.915 billion (2010 est.) |
Current account balance - per capita:
|
-14 USD per capita |
Exports:
|
$2.231 billion (2011 est.)
$1.716 billion (2010 est.) |
Exports per capita:
|
25 USD per capita |
Exports - commodities:
|
coffee, qat, gold, leather products, live animals, oilseeds |
Exports - partners:
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China 13.9%, Germany 10.5%, Belgium 7.5%, Saudi Arabia 7.1%, US 6.8%, Sudan 4.6% (2010) |
Imports:
|
$7.888 billion (2011 est.)
$6.992 billion (2010 est.) |
Imports per capita:
|
87 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:
|
China 15.1%, US 9.5%, Saudi Arabia 8.8% (2010) |
Reserves of foreign exchange and gold:
|
$2.029 billion (31 December 2011 est.)
$1.808 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
23 USD per capita |
Debt - external:
|
$6.402 billion (31 December 2011 est.)
$5.593 billion (31 December 2010 est.) |
Debt - external - per capita:
|
71 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
birr (ETB) |
Exchange rates:
|
birr (ETB) per US dollar -
17.2 (2011 est.)
14.41 (2010 est.)
11.78 (2009)
9.57 (2008)
8.96 (2007) |
Fiscal year:
|
8 July - 7 July |
|
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